Environmental Risk Series

Authors

Authors vary by report and include the following individuals: Margaret Conroy, PhD, FCAS, MAAA; Robert Erhardt, PhD ACAS; Max J. Rudolph, FSA, CFA, CERA, MAAA; Natalie Howe, PhD; Therese Klodnicki, ACAS, MAAA; Alexandra Baig, MBA, CFP; Kimberley Ward, FCAS, MAAA, CPCU, ARM; A. Stanley Meiburg, PhD; Beckett Sterner, PhD; Esther Boyle; Ann Kinzig, PhD;  Petar Jevtic, PhD.

Description

This report series explores various aspects of environmental risks.

Podcast

Reports

Climate System, A Primer for Actuaries
This paper provides a high-level review of climate models for the actuary and shows they are not impenetrable, intriguing the reader enough to seek out additional resources.

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New Fire Hazard Risk from Policy Responses to Climate Change
The unprecedented losses associated with recent wildfires are yet another call to insurers to understand how climate change is impacting the landscape of fire hazards. In this report, to further advance understanding of relationship between fire hazard and climate change, for both academic and practitioner communities, we review emerging evidence showing that policies surrounding tree planting are increasingly important for fire hazard insurance. Furthermore, we discuss relevant risk factors and potential mechanisms when accounting for these policies.

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Sustainable Insurance: A Changing International and National Landscape
We summarize some of the developments in corporate sustainability. The guiding principles of corporate sustainability are developed on the global stage, but implementation of these principles necessarily occurs at the individual company level.

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Climate Change and Environmental Risks 
Climate change is occurring. As a result, insured and uninsured losses are increasing. Billion-dollar (CPI adjusted) disaster events have increased in each decade in which they have been tracked since 1980.

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Environmental Risk from Globalization 
Globalization causes insurable loss through disease, crop damage, infrastructure damage, and ecosystem services damage.

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Introduction to Environmental Risk 
This report will endeavor to introduce the reader to some of the known and developing environmental risks that impact the business of insurance, with a specific focus on North American risks.

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Acknowledgments

The researchers’ deepest gratitude goes to those without whose efforts this project could not have come to fruition: the Project Oversight Group and others at the Society of Actuaries.

Project Oversight Group members:

Priya Rohatgi, ASA, Chair of Project Oversight Group
Rachit Agarwal, FSA, CERA, FCIA
Mark Alberts, FSA, MAAA
Jessica Chen, ACAS
Robert Erhardt, PhD, ACAS
Alexander Hoffman, ASA MAAA
Eric Holley, PhD
Petar Jevtic, PhD
Joe Kennedy, FIA, FSAI
Jiani (Maggie) Ma, FSA, FCIA
Max Rudolph, FSA, CFA, CERA, MAAA
Robert Zhan, FSA, CERA
Ruobing Zhang, ASA, ACIA, CERA

At the Society of Actuaries:

Dale Hall, FSA, CERA, MAAA, Director of Research
Scott Lennox, FSA, FCAS, FCIA, Staff Actuary
Robert Montgomery, ASA, MAAA, Consultant and Research Project Manager
Erika Schulty, Research Associate

Questions Or Comments?

If you have comments or questions, please send an email to research@soa.org.