About 300 insurance companies active in the US will be required to detail the risks they face from climate change, following regulatory moves in California, New York and Washington State.

This year is set to see the second highest insured losses from natural and man-made catastrophes in history, at $108 billion, according to preliminary estimates by reinsurer Swiss Re.

Booming investment in renewable energy has led insurance broker and risk advisor Marsh to form a renewable power and clean-tech practice.

Insurance companies are still failing to adequately incorporate climate change risks into their investment portfolios, according to an initiative designed to help the industry respond to global warming.

The UK would be better off creating a green insurance agency rather than a Green Investment Bank (GIB), according to a specialist in climate change risks.

The US government should establish a reinsurance programme to support the roll-out of innovative clean technologies, according to a white paper.

The vast majority of insurers are unprepared to handle climate risks even though they acknowledge the impact of climate change on extreme weather events, according to a report by investor coalition Ceres.

Heavy June flooding in China has caused $5.4 billion in economic losses, while the Philippines and the US also face hefty damage bills following catastrophic events, according to research by reinsurance broker Aon Benfield.

Climate change will exacerbate the risk of property damage caused by soil subsidence, according to insurer Swiss Re.

Renewable energy project developers should consider using ‘captive’ insurance companies to cover risks that are difficult or expensive to insure in the commercial market, according to a top insurance broker.

Widespread flooding in northern Australia has caused economic disruption and sent coal prices soaring, but reinsurers are likely to avoid heavy losses, according to industry participants.

Catastrophes such as earthquakes and the explosion of BP’s oil rig in the Gulf of Mexico caused $222 billion of damage in 2010, more than triple the losses suffered in 2009.

Insurance companies must do more to act on climate change or risk developing countries becoming uninsurable, says UK-based environmental think tank Forum for the Future.

As Germany switches increasingly from fossil fuels to renewable power, the country’s insurance sector will see a 240% rise in policy premiums for solar, wind and other renewables over the next decade, according to reinsurance giant Munich Re.

Government action is required if the insurance industry is to realise its potential to help developing countries adapt to climate change, according to a statement backed by more than 100 leading insurance companies.

BP and its partners on the Deepwater Horizon oil rig do not have enough insurance to cover the potential damages sought in litigation so far, according to an analysis by insurance information provider Advisen.

The Gulf of Mexico oil disaster is projected to be a sizeable insurance event, but could also be the largest non-insured business interruption loss in US history, one insurer has predicted, potentially leading to a surge of new environmental insurance purchases to plug coverage gaps.

Insurance companies have escaped lightly from the eruption of a volcano in Iceland, described as one of this year’s most disruptive and costliest natural disasters.

An online facility meant to make it easier for renewable energy projects in developing countries to access insurance has been launched by a group of insurers and the UN.

Australian asset manager AMP Capital Investors has awarded Nephila Capital a A$44 million (US$35 million) mandate to invest in insurance-linked securities