AFIR-ERM Webinar: Taking concrete steps to modelling climate change risk in insurance.

Join us in our upcoming webinar on:

 

 Taking Concrete Steps to Modelling Climate Change Risk in Insurance

 

 06 March 2023

 07:00 AM (EST)| 12:00 PM (BST)

ABSTRACT

 The insurance industry would need to develop approaches to model the long-term impacts of climate risk to insurance liabilities. A collaboration on this complex topic is necessary to bridge the link between climate science to the insurance domain. Actuaries play an important role in helping shape this new frontier, against the backdrop of increased regulatory interest and challenge of insurability.
In this second session moving on from the first session, Stuart Wason will share insights for actuaries at the recent COP27. Nigel Winspear will discuss in more detail how catastrophe models can be adjusted for a long-term view. Paul Wee will present updates from the IAA AFIR-ERM Environmental Risk Working Group.

SPEAKERS


 

  Speaker 

 Paul Wee
FIA KPMG UK

Paul Wee is a senior manager from KPMG UK in the non-life actuarial team and has almost 20 years actuarial experience across reserving, pricing and risk management from reinsurance and direct insurers. He is the co-chair of the AFIR-ERM Environmental risk working group looking at the long term climate modelling of insurance liabilities.


 
      Speaker 

Dr Nigel Winspear
Sompo International

Dr. Nigel Winspear is Head of Natural Catastrophe Analytics Research at Sompo International, based in London. With over twenty years of catastrophe management experience, Nigel has worked with model vendors, insurers, brokers and reinsurers, across the London, U.S. and Asia-Pacific markets. His PhD examined evidence for climate change impacts in the United States over the past few thousand years, caused by major changes in global atmospheric circulation. Nigel will speak to us today on ideas for adjusting catastrophe models to allow for climate change projections; and will highlight many of the issues and uncertainties we need to consider when doing so.


 
 

Speaker 

Stuart F. Wason
FSA, FCIA, Hon FIA, CERA

Stuart Wason has more than 40 years of actuarial, insurer, consulting and supervisory management experience. Mr. Wason is actively involved in the work of the actuarial profession, currently serving as a member of the IAA's Climate Risk and Pandemic Task Forces and as an IAA Delegate to the IAALS Board. In 2022 he assisted in the development of a CRTF paper on climate adaptation and represented the IAA at COP27.

Mr. Wason has been an author of a number of IAA papers including,

"A Global Framework for Insurer Solvency Assessment" (2004)
"Actuarial Function" (2015)
"Importance of Climate-Related Risks for Actuaries" (2020)

 

 

       
  Session Moderator 

 Annie Tay
FIA CERA

Annie Tay Insurance practitioner, and experienced Chief Risk Officer, with about 30 years of insurance experience. She specializes in Corporate Governance, Life Insurance, Finance and Investments and Risk Management. She is currently Vice Chair of IAA AFIR ERM section Board and Board Lead for all AFIR ERM working parties. She also sits on the Board and Audit and Risk Board Committees for the Institute of Risk Management (IRM) and the Chartered Insurance Institute (CII) respectively

 

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