CRE Insurance

A Cautionary Tale – Nickel, Lithium, Capital Markets, Operational Sustainability and Risk

By CRE Insurance  |    |  Comments are closed

In recent years, the mining sector has experienced substantial gains in metal and mineral prices, prompting many shareholders to push companies away from traditional hedging practices.

However, the landscape has shifted as global risk sentiment has increased, driven by geopolitical and macroeconomic factors.  Equity markets have faced increasing volatility with the VIX spiking again since it went into a frenzy post Covid.

Amidst the ongoing conflict in Ukraine, growing geopolitical risks on the horizon in the Middle East and the lead up to the US Presidential election, investors and central banks continue to support gold as a strategic safe-haven.

But what about critical energy transition commodities?

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Cyber risks in heavy industry: perpetual motion

By Adam Battista  |    |  Comments are closed

At a recent Mining Insurance & Risk Association conference in Vancouver, a cyber risk specialist informed a travel-weary auditorium of insurance and risk professionals on their 2nd cup of joe, that she had researched the Dark Web (basically the underground hackers hangout) and found that 28 out of 30 attendee companies had some form of exposed data available for sale or freely available for use by others.

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Climate Litigation

UN convened Net-Zero Insurance Alliance (NZIA) starts to split

By CRE Insurance  |    |  Comments are closed

The United Nations convened, Net-Zero Insurance Alliance (NZIA) has been eviscerated in the last month with the wholesale exodus of the (re)insurance market from its membership.

As part of its charter, NZIA members must commit to transition their insurance and reinsurance underwriting portfolios to net-zero greenhouse gas (GHG) emissions by 2050, consistent with a maximum temperature rise of 1.5°C above pre-industrial levels by 2100, in order to contribute to the implementation of the Paris Agreement on Climate Change.

Part of this NZIA protocol compels member companies to meet NZIA’s “emissions reduction target” by choosing either an overarching insurance associated emissions reduction target of between 34-60% by 2030, or targeting emissions on a sector-by-sector basis in line with a net zero pathway for that sector.  Much of the language used within its requirements refers to ‘pressuring’ its ‘insureds’ in ‘dirty’ industries to fall into line.

Now only 17 insurers remain, with the founding and major member companies alike, including giants Munich RE, Swiss RE, Lloyds, Zurich, Hannover, QBE, and even Paris headquartered AXA and Scor, all vacating their association with the NZIA.

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CRE establishes Perth, WA business

By CRE Insurance  |    |  Comments are closed

NATIONAL BUSINESS, GLOBAL REACH, REGIONALLY FOCUSSED

CRE, in partnership with Woods Insurance Brokers, has joined forces to establish CRE in Western Australia, commencing from 1st February 2023.
Operating as an extension of CRE, CRE WA will now connect with us nationally to specialise in mining, construction, and energy risks both locally and on those clients with international assets.

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