As one of the biggest emerging risks of our generation, climate change poses complex and materially unique risks to insurance companies. Limited availability of data is proving to be a challenge to accurately modeling these risks. While climate change poses a major risk to financial institutions it also presents tremendous opportunities to risk managers, risk carriers, and actuaries. Explore recent ESG initiatives from the Biden administration, NAIC, and New York regulators on climate change scenarios and what it means for insurance companies.
By attending the session, you will:
- Understand recent updates and news surrounding ESG and insurance.
- Realize lessons learned globally from other countries shifting to an ESG environment.
- Comprehend the unique risks of climate change versus typical stress/scenario testing.
- Understand how climate change scenarios are developed.