The ACI has been developed by a consortium of North American actuarial bodies - American Academy of Actuaries, the Casualty Actuarial Society, the Canadian Institute of Actuaries and the Society of Actuaries. It is intended to serve as a tool to provide information about climate-related extreme events to the insurance industry and the general public. It is based on six key elements:
- High temperatures
- Low temperatures
- High precipitation
- Drought
- Strong winds
- Sea level
Measures of these elements are combined into an index that looks at changes compared to the period from 1961 – 1990. Currently, the ACI covers only North America.
UK/Europe Feasibility Study
The IFoA commissioned a feasibility study to explore whether would be possible to extend the ACI to cover the UK and Europe. The study concluded that an extension would be technically feasible, and that no changes to the formulation of the index would be required; the main challenge would be that of selecting the optimal datasets.
Outputs:
| Research commissioned by: | The IFoA |
|---|---|
| Project conduted by: |
Charles Curry |
| Oversight group: |
Louise Pryor, Kenneth Donaldson |
| Status: | Ongoing |
| Commenced: | September 2015 |
Events calendar
No results found.