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Catastrophe Modelling Task Force

Catastrophe models are predominantly calibrated to long-term historical data that may no longer reflect present or near-future climate conditions. This creates material risk for pricing, capital modelling, ERM, reinsurance purchasing, and regulatory disclosures (ISSB/IFRS S2, ORSA). The Task Force directly addresses this gap.

Leadership

Alexander Wong

Chair

Role

Examine how catastrophe models are being adjusted for climate risk with a focus on how actuaries who use the models need to think about the issue.
Deliver early outputs such as a series of webinars in collaboration with catastrophe modelling vendors to create awareness about the models, the issues relevant to actuaries.
Engage with practitioners, FMAs, and relevant experts to develop useful educational materials and tools for actuaries.
Provide input to and collaborate with key Supranational stakeholders on this topic to promote the role of the actuary and create awareness.

Resources

Task Force Members

List of Members and Observers

Terms of Reference

Webinars

Catastrophe Modelling in a Changing Climate: What Actuaries Need to Know