YAWC video 24. An Actuary’s Role in Climate Change Solutions
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- Опубліковано 12 жов 2024
- Climate change and the increased frequency and severity of catastrophic events continues to be one of the most substantial global issues. This video explores the modern actuary’s role in creating a sustainable future and presents a potential corporate funded insurance product that could indemnify under and uninsured property losses associated with major catastrophic events.
Video keywords: Catastrophe Insurance Climate Change Future
Thanks for the informative presentation and creative insurance product.
Awesome idea and video Devyn!!!
That's an innovative idea! Well done!
Such an important initiative that is meeting (a hard) reality.
Creative, yet practical solution to a very visible issue at hand!
Very good forward thinking here. What a great way to use the systems that already exist and actuarial expertise to solve a problem that isn't being addressed sufficiently right now.
I remember back in 2017 sitting through a nauseating amount of seminars where the presenters were trying to convince us that the HIM hurricanes did not signal a new normal in CAT activity. Well now it's 5 years later and those people have lost their companies billions of dollars. The unfortunate reality is that climate change is no longer an issue we will only need to deal with in the future, it is an issue we need to deal with today. Like you said this alone will not solve the monumental challenge we are facing but it addresses a critical need that is sorely undercapitalized. Further it helps to reframe the issue of climate change from a future issue that is easily ignored to a current issue that is impossible to ignore. Companies have been making long term climate pledges for years now and the closer we get to 2030 the more outlandish many of them seem. This idea would be a great way for companies to prove that they are doing more than just greenwashing. Plus the PR would write itself! Truly Win-Win-Win. Excellent idea!
It's possible to walk and chew bubblegum at the same time: future mitigation coupled with practical immediate solutions like these work well together and can still be highly cost effective. Good stuff!
Great idea to have a product that focuses a company's resources towards loss mitigation from climate damage that's already taken place. Emission reduction and "greener" production standards are nice goals, but they are planned using long (5+ year) roadmaps and don't address immediate crises.
Excellent and very practical idea. Be the change!