Climate Change Stress Tests: Implications for Insurers & Catastrophe Models

In this discussion with RMS we continue our theme of reviewing the impact of the Bank of England Climate Biennial Exploratory Scenario (CBES) released in June.

Matthew and Joss Matthewman, Senior Director, Climate Change Product Management & Strategy at RMS reviewing the cornerstones of climate change forecasting and terminology, breaking the various reporting requirements and outlooks into their fundamental elements.

Using the different Representative Concentration Pathways (RCP) and the corresponding temperature increases, Matthew and Joss review what the physical changes to catastrophic loss could be and how these can be represented in a model.

Issues such as climate conditioning of models, and why these require key changes in how catastrophe models are provided and used are identified with useful guidelines for users of RMS and other models.

Watch the discussion in full using the video player below. 

Continuing Professional Development - Learning Objectives

InsTech London is accredited by The Chartered Insurance Institute (CII). By watching an InsTech London Live Chat, you can claim up to 0.5 CPD hours towards the CII member CPD scheme.

Let us know you attended the event by emailing cpd@instech.london and if your organisation is a member of InsTech London, you will receive a quarterly summary of the CPD hours you have earned.

The Learning Objectives for this live chat are:

• Review the Bank of England Climate Biennial Exploratory Scenario (CBES) and its consequences for catastrophe modelling
• Learn the fundamental elements and requirements of climate change forecasting from specialists
• Hear useful guidelines and advice for using various models and see examples of climate conditioning impacting physical changes to catastrophic loss

Please take a minute to fill in this short CPD feedback form and let us know what you thought of this event.