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

IAA's CAT Modelling Task Force facilitated the webinar with Verisk and Moody's examined the evolving landscape of climate risk and catastrophe (CAT) modeling, exploring how advancements in modeling methodologies are shaping risk assessment across the insurance and reinsurance industry.

Presenters from Moody's and Verisk delivered a joint presentation covering key concepts and developments in CAT modeling — including how climate is expressed within catastrophe models, areas of active study, and treatments across different peril types. The session concluded with an interactive Q&A, giving participants the opportunity to engage directly with the presenters on practical considerations, emerging trends, and the implications for decision-making in a changing risk environment.

This webinar was designed to help actuaries:
• Understand how catastrophe models are being adjusted to reflect climate risk
• Recognize the limitations of relying solely on historical data
• Understand the implications for actuarial applications
• Critically interpret and use catastrophe model outputs