Description: 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.

Description: This research paper studies catastrophe insurance pools covering losses caused by extreme weather events.

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: Actuarial Weather Extremes: August 2020 Hurricanes, Earthquake, Derecho, Extreme Heat and Wildfire

Description: This report evaluates the impact and evolution of societal risk management due to projected future changes in frequency, severity, and variety of weather-related catastrophes.

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: Integrated Assessment Models (IAM) combine scientific scenarios that project changes in greenhouse gas (GHG) levels, resulting in global temperature increases and meteorological volatility when GHG increases, with quantitative economic models expanding on an aligned narrative.

Description: Climate change affects everyone. Proactive responses that look forward to anticipate future conditions will optimize infrastructure investments rather than dealing with the crisis as extreme events arrive. Cities can address local concerns utilizing a process that is repeatable in other jurisdictions.

Description: This report provides results from a recently conducted study using the AIR Wildfire Model for the United States and available climate and climate change information to estimate how climate change may influence wildfire losses to U.S. property by mid-century. The climate change conditioned catalogs were used to evaluate climate change impacts (relative change in losses) to the AIR Worldwide US Industry Exposure Database, with all factors other than area burned held constant.

Description: In this short report, we summarize Dorian’s rainfall totals as measured via data from the Global Historical Climatology Network3 (GHCN).