Members of the Net-Zero Banking Alliance voted overwhelmingly today to loosen climate obligations, following a year-long strategic review of the UN-backed global initiative. The changes adopted by NZBA are a response to a changed external landscape, it said – one in which many of its 129 member banks are subject to “significant new external climate reporting requirements”.

Nat cats and unmodelled extreme weather risks are emerging as a defining challenge for renewable energy markets worldwide, according to sector specialists at GCube. The insurer warns that the long-term viability of clean energy projects may be at risk as the industry scales.

The UK Government has this week launched a new Code of Practice outlining standards for cyber governance, with the goal of improving cyber security in medium-sized and large organisations. The Cyber Governance Code of Practice sets out the most critical governance actions for which directors are responsible, rather than serving as guidance for those managing cyber security on a day-to-day basis.

FERMA has announced that Typhaine Beaupérin will step down from her roles as CEO and secretary-general of the federation in June. She took up the post of CEO in 2015 and became secretary general in 2019. FERMA said she had significantly enhanced its voice within EU institutions and elevated the profile of the risk management profession. It said a new CEO and secretary general would be announced in due course.

Business credit data provider CRIF has announced a new partnership with claims management solutions provider Crawford and Company. Using open banking technology, the partnership aims to reduce the time spent on claims management by 30%.

RSA Insurance is to rebrand and trade as Intact Insurance. RSA was acquired in June 2021 by the Canadian insurer Intact Financial Corporation and Scandinavian insurer Tryg A/S. With a global team of 31,000 employees, Intact Financial Corporation writes CAD$24 billion in total annual DWP.