Description: This article provides an overview of the GI Course within the SOA’s Climate Risk Certificate Program

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 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 benefits from insurers’ ability to better understand and price flood risk. This research takes a closer look at flood risk modeling and flood insurance pricing.

Description: Article looks at various catastrophic events in past years specifically around insurance claims and the negative impact this has had on the insurance/reinsurance industries. It suggests better communication strategies for companies when dealing with the public.

Description: This report provides a comprehensive guide for actuaries, insurance companies and regulators to understand the scope and challenges of earthquake risk and insurance in the U.S. It also looks at Canada and Puerto Rico due to their proximity.

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: 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: There is value in a framework that allows a smooth transition from a qualitative assessment to a quantitative analysis as entities mature in their understanding of climate risk. In this report, a case study on climate change impact on home prices is used to illustrate a Bayesian network iterative approach to building a model for scenario analysis.

Description: This article examines the property losses sustained by homeowners and the economic losses sustained by insurance companies and government agencies due to California wildfires.