Description: Over the course of ImpAct conference, we have taken you on a journey to understand the impact of climate change to the insurance industry. We have examined the risks to the industry both on a short and long term. We looked at tools and approaches, both on the liability and asset sides, to address this emerging risk. Evidences have shown, not only the need to incorporate climate risks is pressing, as an industry, we shall recognize the responsibilities to lead the evolution. This session aims to put everything together and explore progress on company's enterprise risk management (ERM) process to incorporate climate risks and enterprises' attempt to provide sustainability information to audiences in need. We will discuss the latest development in international standard on sustainability disclosure. We will diagnose the challenges on implementation and effort to resolve them. We will compare the requirements and latest developments across different jurisdictions and possible cross learning among them. To conclude, we will land on what opportunities are available to the actuarial community! At the end of this session, participants will be able to: - Discover requirements on sustainability reporting standards across different jurisdictions - Appreciate the challenges and progress to integrate climate risks in company's ERM approaches - Comprehend actuaries' opportunities and responsibilities to contribute

Description: Climate change will lead to an increase in the frequency and severity of many weather-related hazards. In turn, these hazards will impact health outcomes for individuals. Explore examples of this connection with a climate scientist, including how the increase in wildfire severity in the western U.S. is expected to drive a 40% increase in organic carbon aerosols by 2050 and howheat stress will impact vulnerable populations and workers in non-air-conditioned environments. Investigating these relationships will increase literacy on disproportionate impacts of climate change-related health outcomes. Presenters will illustrate the disproportionate impacts by geographically analyzing climate change signals and comparing them with socioeconomic data. Last but not least, you will learn about the evolution in both voluntary and required disclosures for payors and the landscape of why understanding climate risk is relevant for many payors.

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.

Description: Recognizing the benefit for actuarial discussions about how COVID-19 will affect our work, the Smaller Insurance Company Section of the Society of Actuaries hosted “COVID-19: What a Smaller Insurance Company Actuary Needs to Know Virtual Town Hall” on April 17, 2020. The following delves into these presentations and discussions.

Description: Learn about the climate-related risks and opportunities that are relevant to life insurers. Additionally, you will also discover an overview of key regulatory drivers around the globe that will require life insurers to take action in the near future.

Description: This study presents a comprehensive approach of real option analysis to climate adaptation policies aiming to mitigate flood risk. The framework focuses on pricing catastrophic risk in coastal regions, allowing for economic growth and uncertainty in the mean sea level rise.

Description: A call for project proposals to study the impacts of climate-induced migration on various areas which can influence the delivery of services and availability of insurance coverages.

Description: Join us for an analysis of the impact of climate change on financial institution solvency, profitability, and how other key performance metrics are, or likely will be, required by financial regulators in most major economies in the very near future. Regulators are signaling that such impacts should be assessed through the use of scenario analysis, both qualitatively and quantitatively. Explore an overview of the emerging regulatory landscape for insurers as it relates to the disclosure of climate risk. After that, check out the mechanics and current best practices that actuaries and risk modelers may use in performing qualitative and quantitative climate risk scenario analyses, covering both physical and transition risks.