How Climate Risk Applies to All Actuaries
Climate risk and climate change involve physical risks that impact all forms of financial security systems for which actuaries aim to identify and manage risks. Financial security systems—embodied by insurance products (whether property/casualty, life, or health) and, more indirectly, pensions and retirement products—are touched by climate risks.
During this webinar, our speakers—members of the Academy's Climate Change Joint Committee—discussed how climate risks impact all actuaries. The discussion featured a look at the recently released report, Climate Risks Pose Broad Impact on Financial Security Systems, which provides actuaries with a practical guide for considering a broad range of impacts that climate change may have on their work. They also touched upon the new Glossary of Climate Change Terms and Definitions, which provides an explanation of various terms relating to climate change appearing in publications and presentations published by the Academy.