APRA releases details on insurance Climate Vulnerability Assessment

News Financial services Guidance

Date: 5th Dec, 2024 Source: Australian Prudential Regulation Authority Country: Australia Original Source

Brief

"On May 12, 2024, the Australian Prudential Regulation Authority issued an update regarding APRA releases details on insurance Climate Vulnerability Assessment. The insurance Climate Vulnerability Assessment aims to improve understanding of potential future insurance affordability challenges by modelling two climate scenarios and a baseline scenario with Australia's five largest general insurers. This initiative builds on the 2022 banking Climate Vulnerability Assessment, which examined the possible effects of climate change on bank credit risk."

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Australian Prudential Regulation Authority

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APRA releases details on insurance Climate Vulnerability Assessment

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APRA releases details on insurance Climate Vulnerability Assessment

Brief

Australian Prudential Regulation Authority

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