Description: The Society of Actuaries (SOA) Research Institute commissioned a study to understand how insurers are responding to the framework used for climate disclosure practices, attempting to identify current practice and best and emerging practice. Used by firms to ensure they manage climate risk appropriately, the framework from the Task Force on Climate-related Financial Disclosures (TCFD) focuses on disclosure of governance, risk management, strategy, and metrics.

Description: Just in the recent two years, COVID-19 has demonstrated very impressively that a pandemic is not something for which one can fully prepare. However, what makes a pandemic so special and difficult to manage compared to other low frequency and high severity events such as volcanic eruptions or tsunami damage? Frank Schillerexplains what makes a pandemic so different, viz, information uncertainty, exponential growth, and time lags.

Description: The Society of Actuaries (SOA) Research Institute commissioned a study to understand how insurers are responding to the framework used for climate disclosure practices, attempting to identify current practice and best and emerging practice. Used by firms to ensure they manage climate risk appropriately, the framework from the Task Force on Climate-related Financial Disclosures (TCFD) focuses on disclosure of governance, risk management, strategy, and metrics.

Description: The Society of Actuaries Catastrophe/Climate Strategic Research Program engaged Risk & Regulatory Consulting LLC (“RRC”, “we”, “our”, or “the researchers”) to conduct research on the projected changes in insurability and affordability of insurance coverages due to climate change.

Description: Now that Covid and other viruses seem to be leaving us (hopefully!), what is left of the aftermath? For two locked-down years, we no longer could network face-to-face, meet with colleagues at work, do lunch or breakfast, enjoy meeting for coffee, nor attend conferences or other events to experience great speakers up close. Nor could we show up as one of those great speakers ourselves! This article explores what's next in our newly virtual world of public speaking!

Description: Three consultants offer their views on a pandemic and post-pandemic economic future that awaits Mexico. COVID-19 deepened the contraction of the Mexican economy. As manufacturing and consumption bounce back, sustaineddemand for services can help recovery. But a policy push is needed. The global pandemic came at a time when the Mexican economy had contracted for five straight quarters due to avariety of factors such as deceleration in investment and private consumption and uncertainty around the free tradeagreement with the United States and Canada. The COVID-19 crisis accelerated this trend, resulting in the largest contraction since the Great Depression of 1929.

Description: This article highlights some of the key elements included in the United States Government Accountability Office (GAO) report to Congress in July 2023 regarding the National Flood Insurance Program (NFIP).

Description: The research provides a modeling framework for assessing the inundation risk of properties and their expected flood damages, thereby laying a foundation for flood insurance pricing. The researchers studied over 50 years of claims data from the National Flood Insurance Program with 2.5 million records and identify property characteristics that predict flood damages for inundated properties. The development of a private flood insurance market hinges on insurers’ ability to better understand and price flood risk. This research takes a closer look at flood risk modeling and flood insurance pricing.

Description: With large parts of Italy back in lockdown due to a second wave of COVID 19, the P&C insurance market is still waiting for potential legal actions to emerge from those seeking compensation for negligent conduct during this exceptional catastrophe.

Description: The world of climate risk disclosures has seen dizzying levels of change in the last few years. In 2023, many regulators have publicly issued guidance on what insurance companies and other FIs should look to disclose. So what are we seeing in these disclosures and how do we use this information? Join our panel of experts to learn about the evolution of U.S. life insurance industry's climate disclosures and how insurers of all sizes and complexities are responding to NAIC's requirements.