Program Description

Insurance customers are responding to climate change in a myriad of ways, many of which involve adoption of new technologies and practices. In some cases they are avoiding old risks and/or invoking new ones. Meanwhile, the bar is being raised for corporate governance and asset management in the context of climate change. The presentation will briefly summarize the vulnerabilities of insurers to climate change, but the central emphasis will be on business opportunities going forward. The presenter will share the results from a new international review of “green” activities emanating from the insurance sector, including enhancing disaster resilience, launching new products and services, performing climate science, investing in low-carbon technologies, improving corporate governance, reducing in-house energy use and carbon footprints, and engaging in public policy at the national and international levels. The case studies include 643 specific activities on the part of 246 insurance entities from 29 countries (as well as 34 non-insurer collaborators). They span most insurance lines. This represents a 50% year-over-year increase in the level of activity compared to that observed through 2007. Participants in these activities include insurers, reinsurers, brokers, catastrophe modelers, actuaries, institutional investors, and regulators, plus a host of non-insurance entities across the public and private sectors. The presentation will conclude with opportunities for actuaries to participate in this vibrant revolution.

Intended Audience

This webinar is targeted to those working in virtually all areas of insurance and risk management. The topic spans underwriting, product development, consulting services, asset management, corporate governance, and enterprise risk management. Actuaries interested in performing related work will find useful information in the presentation.