CRP107-Modeling, Measuring and Pricing the Flood Risk
This project, undertaken by the Society of Actuaries (SOA), reviews the existing literature on the flood risk models, and provide commentaries of relevance to actuaries. One goal of the review is to educate the actuarial community about the various shades of the flood risk, as well as about the state of the art in quantitative flood risk modeling. Another goal is to examine the possibility of employing the actuarial knowledge tank in order to refine the inventory of the existing flood risk models.
TCFD-based Reporting to Become Mandatory for PRI Signatories in 2020
The strategy and governance indicators of the Principles for Responsible Investment (PRI’s) climate risk indicators are to become mandatory for signatories to report on from 2020.Supporting the adoption of the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) is a high priority for the PRI as they provide a global framework for translating information about climate into financial metrics. You can read more on the report on the PRI website.
Launch of ClimateWise Physical and Transition Risk Frameworks
New open-source models from ClimateWise, the global insurance network, offer step-by-step guides to help the financial industry prepare for risks posed by climate change. In Physical risk framework: Managing the physical risks of climate change, the ClimateWise Advisory Council offers a practical guide for investors and lenders based on natural catastrophe models to help them understand changing physical risks and the impacts on their portfolios.