Description: On March 5, 2022, an EF-4 tornado hit Iowa and caused 6 fatalities, according to preliminary reports.1 The supercell thunderstorm that produced the destructive tornado also produced damaging wind and hail events. According to the National Weather Service, this tornado was the first EF-4 tornado in Iowa since 2013 and was the second longest tornado path since 1980, with a path length of 69.5 miles.

Description: On May 20, 2022, an EF-3 tornado hit Gaylord, Michigan and caused 2 fatalities and 44 injuries, according to the National Weather Service Damage Survey [2]. The supercell thunderstorm that produced the destructive tornado also produced damaging wind and hail up to 3 inches in diameter [3]. According to data from the National Center for Environmental Information, this tornado was the first EF-3+ tornado in Michigan since 2012 and first EF-3+ tornado in Michigan in May since 1991 [1].

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: January 2021 update on activities of the Catastrophe and Climate Research Program.

Description: Catastrophe & Climate Strategic Research Program Newsletter, December 2021

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: This report categorizes weather datasets into 8 main types, of which 5 are historical data and 3 are forecast data. Each of the 8 dataset types is described, and an illustrative example of each is provided.

Description: In the early morning of July 26, 2022, an extreme precipitation event hit St. Louis, leading to a new all-time record for daily precipitation and widespread flash flooding in the metro area, with one fatality reported so far. Government officials at the state, county, and city levels declared states of emergency, allowing affected residents and business to access assistance and resources. Several roads and Metrolink stations were submerged and impassable. Metrolink damage is estimated at $18-20 million, with some stations expected to be shut down for two weeks.

Description: This report was developed by the CESRC as an update of one Rob Erhardt prepared in 2016 that compiled a collection of sources that deal with what scientists know and what actuaries could do. Sources have been chosen with practicing actuaries and the public in mind. In the original report, nearly all governmental sources come from the United States. In the update an attempt was made to include sources from actuarial bodies and regulators worldwide. Please let us know if you have a source we did not include as it is anticipated that the SOA will continue to update a list of sources for these topics in the future.

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.