http://www.lloyds.com/~/media/Lloyds/Reports/Emerging%20Risk%20Reports/CC%20and%20modelling%20template%20V6.pdf
http://www.theguardian.com/commentisfree/2014/may/11/insurers-climate-change-lloyds-catastrophe-modelling-hurricane-katrina-superstorm-sandy Many types of business we insure are affected by climate change. There are the obvious ones such as property, catastrophe and crop insurance. But Superstorm Sandy taught us that the reach of extreme weather is far greater than that. The destruction Sandy brought to the eastern US seaboard was responsible for claims of up to $300m in lost fine art, a consequence of the many expensive US beachfront homes damaged. Modelling has shown that the approximate 20cm of sea-level rise at the southern tip of Manhattan Island increased Sandy's surge losses by 30% in New York alone. As a response, our recent Catastrophe Modelling and Climate Changereport calls for the insurance industry to take seriously the impact of climate change and the implications it poses for the industry. The first step has to be making sure that catastrophe models can properly account for climate change. This will be challenging. Uncertainties associated with the estimation of the extent and frequency of the most extreme events can make assessing future impacts difficult within traditional modelling. Consequently, this will require investigation into new modelling approaches that build in forward projection, not just historical data. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
