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
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.