Recent estimates suggest that insured losses from the Los Angeles, California wildfires could be higher than anticipated. As a result, catastrophe bond prices are showing signs of weakness, with the market’s benchmark recording its first-ever negative January return since its inception over two decades ago, according to cat bond fund manager Icosa Investments AG.With a … Read more
The world was hit by so many floods and landslides in 2024 that it triggered the aid sector’s first multi-disaster insurance pay-out, the Red Cross told Reuters, signaling both the scale of the problem and the need for new financing solutions. The International Federation of the Red Cross and Red Crescent Societies (IFRC) said such … Read more
IFRC announces first-ever insurance payout for disaster fund | Insurance Business America Insurance News IFRC announces first-ever insurance payout for disaster fund Undersecretary general highlights the escalating need for humanitarian aid Insurance News By Jonalyn Cueto The International Federation of Red Cross and Red Crescent Societies (IFRC) has announced a historic milestone in humanitarian finance: … Read more
