ASTIN Masterclass Model Risk Management - The Quest for a Unifying Approach by Andrew Smith Part.1

This session explores how actuaries can apply their expertise to understand, model, and mitigate water-related risks and contribute to sustainable and informed decision-making in a changing world.

Water is both an essential resource and a source of significant risk — influencing ecosystems, economies, and societies around the world. From floods and droughts to pollution and ocean acidification, water-related challenges are now recognized as systemic risks that affect financial stability, food security, and social resilience.

In this webinar hosted by Banking Virtual Forum (BVF) held on 28 October 2025, the speakers will provide an overview of the key changes to the capital requirements for banks under finalized Basel III – their background, implications and considerations going forward. Speakers: Monique de Waal and Stephen Scott Moderator: Michael Tichareva

In this session we explore how the localized nature of severe weather events leads to a concentration of correlated risks that can substantially amplify aggregate losses. We propose a copula-based regression model for replicated spatial data to characterize the dependence between property damage claims from a common storm. The factor copula captures spatial dependence between properties and aspatial dependence induced by the common shock. The framework allows insurers to incorporate heterogeneity in marginal models of skewed, heavy-tailed, and zero-inflated insurance losses, while retaining model interpretation. Using hail damage insurance claims data from a US insurer, we demonstrate the effect of dependence on claims management decisions.


Speaker: Lisa Gao
Session moderator: Brian Fannin

Join us for a rousing, informative presentation on a controversial and timely topic that delves into whether actuaries should engage in the political discourse on Climate Change—and whether doing so strengthens or undermines the profession.

This webinar explores the following key questions:
💠Should the actuarial profession be making pronouncements about Climate Change when it manifestly lacks the necessary expertise on the topic?
💠Should actuaries stay out of the political debate on Climate Change?
💠Does it help the profession to comment on topics not covered in the syllabus?


Speaker: Ira Robbin
Session moderator: Michael Clark

Commercial insurance has long been a people and SME driven business, where success depends on underwriter expertise and effective management of client relationships. While the rise of Generative AI is transforming many processes, the underwriter’s role as a trusted expert remains central. In this insightful webinar hosted by the Data Analytics Virtual Forum (DAVF) held on October 21st, 2025, speakers explore how technology is reshaping commercial underwriting reducing process friction, enhancing decision-making, and enabling underwriters to focus on risk quality, portfolio health, and client engagement.

The International Sustainability Standards Board (ISSB), overseen by the IFRS Foundation, published IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures in June 2023. These standards are effective for annual reporting periods beginning on or after January 1, 2024, subject to national adoption. With their expertise in quantitative and qualitative analysis of contingent and uncertain events, actuaries are uniquely well-positioned to contribute to the identification, modeling, assessment, and disclosure of climate-related risks and opportunities as required under IFRS S2. To support this role, the International Actuarial Association (IAA) is developing the International Standard of Actuarial Practice 8 (ISAP 8), a model standard designed to guide actuaries in providing services that support the preparation of climate-related disclosures in line with IFRS S2. In parallel, the IAA is also preparing International Actuarial Note 200 (IAN 200), an educational resource offering practical examples of how actuaries may apply their expertise in the context of IFRS S1 and IFRS S2. This webinar aims to raise awareness of the IAA’s work related to the IFRS Sustainability Standards and to highlight how actuaries can play a meaningful role in advancing sustainability reporting and governance.