Join us in our upcoming webinar on:
Taking
Concrete Steps to Modelling Climate Change Risk in Insurance
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06
March 2023
07:00 AM (EST)| 12:00 PM (BST)
The insurance industry would need to
develop approaches to model the long-term impacts of climate risk
to insurance liabilities. A collaboration on this complex topic is
necessary to bridge the link between climate science to the
insurance domain. Actuaries play an important role in helping shape
this new frontier, against the backdrop of increased regulatory
interest and challenge of insurability.
In this second session moving on from the first session, Stuart
Wason will share insights for actuaries at the recent COP27. Nigel
Winspear will discuss in more detail how catastrophe models can be
adjusted for a long-term view. Paul Wee will present updates from
the IAA AFIR-ERM Environmental Risk Working Group.
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Speaker
Paul
Wee
FIA KPMG UK
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Paul Wee is a senior manager from KPMG UK in
the non-life actuarial team and has almost 20 years actuarial
experience across reserving, pricing and risk management from
reinsurance and direct insurers. He is the co-chair of the AFIR-ERM
Environmental risk working group looking at the long term climate
modelling of insurance liabilities.
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Speaker
Dr Nigel Winspear
Sompo International
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Dr. Nigel Winspear is Head of Natural
Catastrophe Analytics Research at Sompo International, based in
London. With over twenty years of catastrophe management
experience, Nigel has worked with model vendors, insurers, brokers
and reinsurers, across the London, U.S. and Asia-Pacific markets.
His PhD examined evidence for climate change impacts in the United
States over the past few thousand years, caused by major changes in
global atmospheric circulation. Nigel will speak to us today on
ideas for adjusting catastrophe models to allow for climate change
projections; and will highlight many of the issues and
uncertainties we need to consider when doing so.
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Speaker
Stuart F.
Wason
FSA, FCIA, Hon FIA, CERA
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Stuart Wason has more than 40 years of
actuarial, insurer, consulting and supervisory management
experience. Mr. Wason is actively involved in the work of the
actuarial profession, currently serving as a member of the IAA's
Climate Risk and Pandemic Task Forces and as an IAA Delegate to the
IAALS Board. In 2022 he assisted in the development of a CRTF paper
on climate adaptation and represented the IAA at COP27.
Mr. Wason has been an author of a number of
IAA papers including,
"A Global Framework for Insurer Solvency
Assessment" (2004)
"Actuarial Function" (2015)
"Importance of Climate-Related Risks for Actuaries" (2020)
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Session Moderator
Annie
Tay
FIA CERA
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Annie Tay Insurance practitioner, and
experienced Chief Risk Officer, with about 30 years of insurance
experience. She specializes in Corporate Governance, Life
Insurance, Finance and Investments and Risk Management. She is
currently Vice Chair of IAA AFIR ERM section Board and Board Lead
for all AFIR ERM working parties. She also sits on the Board and
Audit and Risk Board Committees for the Institute of Risk
Management (IRM) and the Chartered Insurance Institute (CII)
respectively
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