We are a proud member of the Financial Services Online network!
Connect with us on your favourite social media platform for the latest financial news, views, tips, tricks, resources and information.
Designed to streamline the process, CFC's new insurance offering boasts immediate quoting and binding on the same day. It's tailored for buyers engaging with any of over 300 recognized carbon initiatives, marking a significant leap in the carbon credits insurance landscape.
The distinction of this insurance product lies in its comprehensive coverage. It is the inaugural policy catering to both the material and governmental obstacles confronted by entities acquiring voluntary carbon credits with a forward-looking approach. Unlike traditional policies, CFC's inventive underwriting method scrutinizes the carbon programme, thus circumventing the need for lengthy policyholder vetting and simplifying the quotation process.
George Beattie, proficient at the helm of CFC's Innovation Team, shares an optimistic vision about the insurance's role. "This is more than just a policy—it's a catalyst for ushering in a positive environmental impact, positioning early adopters on the vanguard of a market poised to amplify to upwards of $1 trillion by mid-century," elucidated Beattie, illuminating the anticipated growth trajectory of the carbon market.
Asserting further on the user-oriented nature of this insurance solution, Beattie quotes, "We're delivering a tool that furnishes investors within the voluntary carbon sector with the sought-after assurance and reliability."
Gateway to this serviceable insurance product is provided via broker distribution networks. Further amplifying their potential, CFC has established a strategic partnership with IncubEx, a trailblazer in carbon market innovation domains.
Proving the necessity and timing of such an insurance tool resonates with market sentiments, CFC's comprehensive survey across 500+ corporate purveyors found that a striking 75% are seriously apprehensive about the risks of delivery flaws. 65% have already been on the receiving end of losses due to non-delivery scenarios, and a solid 80% indicated their likelihood of contemplating underwriting support to shield against such prospects in their future carbon credit transactions.
Published:Sunday, 24th Mar 2024
Source: Paige Estritori
| Antique Car Claim Hits the Brakes: Home Insurance Does Not Cover Vehicle Damage 24 Apr 2024: .Paige Estritori In an intriguing turn of events, a dedicated car enthusiast's claim for damages to his vintage vehicle under home insurance has been denied after a careful review by the Australian Financial Complaints Authority (AFCA). The individual's relic, a 1970 Mercedes-Benz 280e sedan, which was being lovingly restored and was far from operational, rolled into an adjacent van following the snap of a winch cable. - read more |
| Communities Laud Insurance Improvements Post-Flood Events 23 Apr 2024: .Paige Estritori Residents and officials from regions affected by flooding have observed a discernable shift in insurers' handling of claims following natural catastrophes, with recent proceedings reflecting a more positive trajectory. This outlook emerged during a federal inquiry session that gave a voice to flood-impacted communities in Heathcote, Victoria. - read more |
| Traveler's Appeal on Wildfire Claim Denied by Adjudicator 22 Apr 2024: .Paige Estritori An individual's anticipation of a serene vacation in Hawaii was met with a grievous twist when wildfires ravaged Maui, leading to an urgent evacuation and unplanned expenses. A customer of Mitsui Sumitomo ventured to the Pacific paradise only to have plans upended by nature's wrath. The ensuing insurance claim denial sparked a dispute which has now been resolved by the authoritative voice of the industry’s dispute resolver, leaving a glaring reminder of the importance of scrutinizing insurance options. - read more |
| Life Insurance Participation Drops By Nearly One-Fifth in Five Years 19 Apr 2024: .Paige Estritori Last year, research from a major insurance provider signaled a significant shift in the life insurance landscape within Australia, showing a marked decrease in the percentage of insured non-dependent adults of working age. Only 77% now carry some form of life insurance, a stark contrast to the 94% coverage rate recorded in 2017. Industries evolve, yet the dip in these figures marks a noteworthy trend within the life insurance sector. - read more |
| London's CFC Gears Up for Australian Expansion With Local Acquisition 18 Apr 2024: .Paige Estritori In a strategic move to fortify its Australian footprint, the prominent London-based cyber insurance firm CFC has announced the procurement of Melbourne's Solution Underwriting. Already an experienced player in the Australian insurance sector, CFC’s recent acquisition marks a significant augmentation of its local operations. - read more |
| Understanding the Coverage: What Your Farm Insurance Should Include The serene morning mists settling over green pastures and the peaceful clucking of poultry might paint an idyllic picture of farm life, but seasoned farmers know that this lifestyle comes with its own set of risks and uncertainties. In the world of agriculture, each new day could bring events that threaten your way of life and the heart of your business. This is where farm insurance becomes not just important, but essential. - read more
|
| Custom Farm Insurance: Tailoring the Perfect Policy for Your Agricultural Needs Welcome to the world of farm insurance, where no two policies are the same, just as no two farms mirror each other in operations and risks. As a farmer, you are acutely aware that your agricultural endeavors bring a unique set of challenges and needs. Recognizing this diversity is the first step in protecting your livelihood. - read more
|
| Adapting to Change: How Australian Farms Can Thrive Amidst Climate Shifts Australia's agricultural sector stands as a testament to the resilience and ingenuity of its farmers. Yet, this stalwart industry faces one of its greatest challenges: climate change. Rising temperatures, erratic weather patterns, and extreme events, from droughts to floods, are now common hurdles on the landscape of Australian farming. - read more
|
| Safeguarding Your Harvest: The Importance of Crop Insurance In the ever-unpredictable world of farming, crop insurance emerges as a pivotal ally for farmers, hedging against the myriad of risks that come with cultivating the land. As the first step to understanding this crucial safeguard, let's unfold the question: What is crop insurance, exactly? In essence, crop insurance is a type of cover designed to cushion farmers from financial losses due to unavoidable circumstances such as adverse weather conditions, pests, disease, or even market fluctuations. - read more
|
| New Technologies in Crop Protection: How Precision Agriculture Enhances Insurance Coverage For generations, farmers have faced the challenge of protecting their crops from an array of threats, such as pests, diseases, and extreme weather. Traditional crop protection strategies have relied heavily on blanket approaches, as in using widespread pesticide application, or generalized irrigation systems, regardless of the varying needs across a field. While these methods have had their successes, they also come with limitations in efficiency, environmental impact, and the precision needed for optimal crop health and yield. - read more
|