JBA Risk Management’s Post

🌍📊 New Blog Alert: Climate Resilience Dialogue Report! 📊🌍 The Actuarial Association of Europe is excited to share the latest blog on our website about the Climate Resilience Dialogue's Final Report. Authored by Jerome Crugnola-Humbert, Chairperson of the AAE Sustainability and Climate-related Risk Working Group, the blog delves into the key findings and future steps. 🌟 Read the full blog and report to see how you can contribute to implementing these crucial recommendations for a more resilient Europe. 🔗 Read the blog here: https://lnkd.in/e4uRTXr4 #ClimateResilience #AAE #ClimateAdaptation #Insurance #RiskManagement #Sustainability

Building climate resilience across urban environments… You can read the inspiring case study on page 12 of the report: ➡️🔗 https://lnkd.in/eFnbaMPs 💙

Natural catastrophes are becoming more frequent and intense, threatening not only lives but also the economic stability of entire communities. Yet, only about 25% of climate-related losses are covered by insurance in Europe. To address the climate protection gap and build climate resilience, the Climate Resilience Dialogue, backed by the European Commission, proposes a new report with actionable steps. From increasing risk awareness to leveraging data and fostering public-private partnerships, the insurance industry has a pivotal role in closing this gap. Read more in this Actuarial Post article here: https://lnkd.in/ePiMN9gy #Insurance #Climiteresilience #riskmanagement #Europe

💥 Have you already registered for the #IAIS webinar regarding the public consultation on #ClimateRisk supervisory guidance? 📅 15 April 2024  ⏰ 13:00 – 14:00 (CEST) ✍ Register now: https://lnkd.in/ey4Hf75F 🔹 The IAIS recently published a third #PublicConsultation aimed at promoting a globally consistent approach in addressing climate-related risk, which includes proposed changes to selected Insurance Core Principles (#ICP) guidance material and climate risk supporting materials. Comments are invited by: 📅 19 June 2024  ⏰ 24:00 (CEST) 📑 Learn more about the public consultation: https://lnkd.in/eYWrQgCR ✍ Use the consultation tool to input comments: https://lnkd.in/eqrCpB4Y 👉 Learn more about climate risk at the IAIS: https://lnkd.in/eTfbbNqQ #IAIS2024 #Insurance #InsuranceNews #InsuranceSector #InsuranceIndustry #Climate

ADB’s Regional Workshop on #ClimateFinance explores the role of insurance in financing climate risk, adapting to #climatechange impacts, as well as preventing and protecting from climate hazards. It also explains how the private #insurance market can help developing countries reach the objectives of the Paris Agreement. 🟠 Access the presentation materials at https://buff.ly/3WJBaa5 #SDG13 Thomas Kessler, Mio Oka, V Anantha Nageswaran, Rowan Douglas CBE, Nick Moody

With continued climate volatility and increase in peril events, insurers are further restricting policy coverage across exposed regions. Alternative Risk Transfer solutions (such as parametric solutions) are being used to secure appropriate insurance cover now more than ever. #Aon #RiskManagement #ClimateRisk #Parametrics #BetterDecisions

Are historical data enough to predict future risks in a changing climate? Florida’s insurance market faces tough questions. My White Paper addresses these concerns. Request a copy or visit my website: www.the9guidelines.com and check out the 'Blog & Articles' page. Like and share if you believe in proactive planning. #the9guidelines #floridahomeownersinsurance #RiskAssessment #ClimatePreparedness

❗Deadline extended! Comments to the fourth #PublicConsultation of the #IAIS on #ClimateRisk can be submitted until 28 October. The consultation includes proposed new supporting material to better reflect climate-related risk as part of effective supervisory practice. It covers issues related to supervisory reporting and public #Disclosure, as well as #Macroprudential considerations and supervisory cooperation. Comments are invited by:  📅 28 October 2024   ⏰ 24:00 (CET)  📑 Learn more about the public consultation: https://lnkd.in/eNTXrGzb   A public background session will be held to present the consultation material and answer questions from stakeholders. 📆 27 August 2024  ⏰ 13:00-14:00 CEST  👉 Register now! hhttps://lnkd.in/eS7r_R2R 🔷 Learn more about our work on climate risk: https://lnkd.in/eTfbbNqQ #IAIS2024 #IAISConsultation #InsuranceSupervision #ClimateDisclosure #Insurance #InsuranceSector #InsuranceIndustry

Natural catastrophe and climate modeling are helping Australian organisations understand and assess their most significant exposures. They also support efforts to mitigate the impact of climate risk through alternative risk transfer solutions, such as parametric insurance, which are available in areas where traditional risk transfer solutions may not be available. Learn more about climate modeling and how it's helping companies prepare for change in our 2024 Client Trends Report: https://aon.io/3Rv9K5N #Megatrends #RiskManagement #ClimateModeling #BetterDecisions

The Moody's paper highlighted below is well worth a read. It explains how to develop short term stresses from long term scenarios - this is especially useful in the context of the ORSA.