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.
Revolutionizing Carbon Trading with Novel Insurance Offering
Revolutionizing Carbon Trading with Novel Insurance Offering
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
Share this news item:
| 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 |
| Income Protection Insurance: Balancing Cost with Adequate Coverage Income protection insurance is a critical safety net for anyone who relies on a steady paycheck to meet their financial obligations and maintain their lifestyle. It offers a replacement income if you are unable to work due to illness or injury, ensuring that your financial responsibilities can be met even when you're not at your earning best. In today's fast-paced world, income protection has become an essential consideration for the modern working individual. - read more
|
| Income Insurance: The Safety Net for Your Financial Goals in Australia Financial security is pivotal for anyone striving to meet their life goals, be it owning a home, educating children, or ensuring a comfortable retirement. In Australia, where uncertainties can disrupt our best laid-out financial plans, having a safety net in place is essential. Income insurance offers just that—protection against the unforeseen events that could impact your income earning abilities. - read more
|
| Navigating Pre-existing Conditions in Income Protection Insurance Income protection insurance is a safety net that many Australians rely on to secure their financial future in the event of illness or injury preventing them from working. It's a type of policy that provides a replacement income if you are unable to earn your regular income due to a health-related absence from the workplace. - read more
|
| The Role of Rehabilitation Benefits in Income Protection Insurance When the unexpected strikes, such as an illness or injury hindering our ability to earn a living, the financial repercussions can be devastating. This is where income protection insurance becomes a pivotal part of our financial safety net, ensuring a stream of income during challenging times. - read more
|
| Understanding the Process: A Beginner's Guide to Income Insurance Claims Income insurance, an often-overlooked component of financial security, is gaining traction among Australia's burgeoning self-employed population. In an economy where traditional employment is no longer the sole path to success, this form of insurance has become a cornerstone for proactive financial planning. Touted as a safety net, it ensures that personal livelihoods and business operations remain secure in the face of adversity. - read more
|