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Practical guide to climate change for general insurance practitioners

Author

Listed:
  • Rothwell, M.
  • Earle, M.
  • Ooi, C. H.
  • Orr, J.
  • Shroff, S.
  • Siew, J.

Abstract

Climate change is one of the biggest challenges facing the world. Scientific research points out that it is predominately driven by human activity. There are three different types of risks that arise from this change. These have been broadly grouped into physical, transition and liability risks. These risks can impact general insurers to different degrees, depending on their business areas and investment strategies. These may pose different strategic, investment, market, operational and reputational risks. This paper provides General Insurance Practitioners with an overview of different aspects of insurance operations that may be affected by climate change. It highlights the impact of these risks on pricing and underwriting, reserving, reinsurance, catastrophe modelling, investment, risk management and capital management processes.

Suggested Citation

  • Rothwell, M. & Earle, M. & Ooi, C. H. & Orr, J. & Shroff, S. & Siew, J., 2020. "Practical guide to climate change for general insurance practitioners," British Actuarial Journal, Cambridge University Press, vol. 25, pages 1-1, January.
    • Handle: RePEc:cup:bracjl:v:25:y:2020:i::p:-_18
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