Chemical, Biological, Radiological, Nuclear - understanding and insuring these perils
In this IIL London Market lecture Stephen Coates ACII and Stephen Johnson MCSFS examined how Pool Re are working with academia to understand perils not commonly insured in the property market. The speakers considered how these perils differ from conventional loss drivers and how they might be modelled and quantified.
In this lecture the unique nature of CBRN perils was examined from the perspective of how they might cause loss or damage to property. Though Pool Re have covered these perils since 2003, it is only with recent advances in modelling techniques more generally that the possibility emerged of building a contamination model that would attempt to quantify losses that could be triggered by these perils. The speakers considered the science that might underpin the modelling of these perils and the key drivers of loss that would need to be dealt with.
By the end of this lecture members would have gained an insight into:
- The nature of CBRN perils and how each of these could trigger very different losses
- How some of these compounds/isotopes may affect property and the issues insurers may have to deal with
- How we are working the academia, government agencies and catastrophe modellers to understand and quantify these perils
Speakers Bios:
Stephen Coates is currently CUO, Pool Re, responsible for underwriting, actuarial, claims and retrocession. Prior to this he worked for Allianz UK, latterly as Head of UK Property & Casualty, Independent and Eagle Star. He is an expert witness in insurance matters.
Stephen Johnson is the Course Director for the MSc in Forensic Explosive and Explosion Investigation, which explores other hazardous incidents e.g. CBRN and Fire. He actively works with Police, Fire, OGDs and International Organisations on themes of terrorism, CBRNE, intelligence and forensic science.
Chair:
John Wallace ACII, M.InstE, M.Spe, Price Forbes & Partners Ltd.
Venue
Registration & Security
CPD events are open to CII and PFS members
Registration closes at 12pm two working days before the event date
For events held in The Old Library, Lloyd's pass holders may also attend and do not need to register
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Please contact Patricia Pedraza (07463 028327) with any queries regarding the CPD events programme.
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