Data group
Insurance sector's exposure to climate risk
Metric Type
Physical vulnerability
Methodology/ Standard / Classification/ Taxonomy / Reference
Insurance and takaful claims due to natural catastrophes
Unit (e.g. CO2)
Currency (e.g. MYR)
Dimension (e.g. Sector, Customer)
By Entity
Time horizon
Backward-looking
Link
Frequency
Not available
Time series
Not available
Accessibility
Confidential
Observation on data availability/gaps
Data by entity can be requested on ad-hoc basis from Insurance Services Malaysia. ISM collects data on insured related natural catastrophes, but only applicable to flood under fire class. Munich RE, Swiss RE and BoE have reported this information but on a global basis and aggregated level.
Global for Munich RE only: 1.https://www.munichre.com/content/dam/munichre/mrwebsiteslaunches/natcat-2022/2021_Figures-of-the-year.pdf/_jcr_content/renditions/original./2021_Figures-of-the-year.pdf
2. https://www.swissre.com/institute/research/sigma-research/sigma-2021-01.html
3. https://www.bankofengland.co.uk/-/media/boe/files/quarterly-bulletin/2017/the-banks-response-to-climate-change.pdf?la=en&hash=7DF676C781E5FAEE994C2A210A6B9EEE44879387
Data on "Number of Policies/Certificates", "Number of Claims", "Gross Claims Incurred" and "Net Claims Incurred" by climate change-related products, such as Flood under Motor class, Fire class and Other class are collected from insurers and takaful operators on a half-yearly basis by BNM via CCPT reporting.