Assessing the impact of future climate change using catastrophe models

This was the fifth in a series of joint catastrophe modelling webinars between the Insurance Institute of London and AIR Worldwide (a Verisk business), aimed at improving members understanding of developments in extreme event modelling and risk evaluation in today’s insurance world. In this webinar, Dr Peter Sousounis explained how CAT modellers are developing new tools for estimating the future risk of climate change.

This session provided an overview of how existing catastrophe modelling tools can be adapted to help industries, governments, and financial organisations better prepare for the potential consequences of climate change. Three kinds of tools being developed include:

1. Creating climate change – conditioned catalogues that simulate catastrophic weather events under future climate regimes
2. Augmenting existing catalogues with more extreme events to better reflect future risk
3. Creating bespoke scenarios by perturbing historical or present climate catalogue events in ways that climate change would affect them

Examples from each of the three adaptations were presented along with some sample use cases.

By the end of this webinar members would have gained an insight into:

• Climate change impacts on extreme weather
• How CAT models reflect the current and near future climate
• Three techniques for adapting CAT models to reflect the future risk of climate change

You will be sent a confirmation email shortly after booking. If you have not received this within one hour, please contact Patricia Pedraza (020 7397 3911).