This cross practice Working Party will focus on a broad range of topics covering all practice areas likely to be effected by climate change. Topics include but are not limited to; Impacts on general insurance risks, mortality and morbidity, effect on risk, growth and investment (including ‘asset stranding’) of government (and regulatory) actions to adapt to and mitigate the effect of climate change, and opportunities for actuaries being created by these changes

The objectives of the Climate Change Working Party are to build on the comprehensive work of the General Insurance climate change working party which reported and disbanded in 2007. The Working Party is currently focussed on three key areas:

  • the specific impact on the insurance and finance industry for different timelines, including liability risk and the interdependencies of the risks
  • implications of climate change mitigation and adaption for capital markets, including the opportunity to develop capital and insurance tools useful in addressing climate change inter alia through the more efficient allocation of risk
  • approaches to communicating the risks and uncertainties of climate change to different audiences.

Outputs:

  • Working Party update GIRO 2015
  • specific impact on the insurance and finance industry for different timelines, including liability risk and the interdependencies of the risks. The Working Party will look at direct and indirect impacts of climate change (for example the impacts of adaptation and mitigation measures are in scope as well)
  • implications of climate change mitigation and adaptation for capital markets, including the opportunity to develop capital and insurance tools useful in addressing climate change, inter alia through the more efficient allocation of risk
  • approaches to communicating the risks and uncertainties of climate change to different audiences. 
Chair Carol Storey
Membership 12
Established 2014

 

Related documents

Contact Details

If you want more information about this research working party please contact the Communities Team.

professional.communities@actuaries.org.uk