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Wildfire Lessons Learned and State of Wildfire Risk Modeling

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Submitted by EMacKenzie on March 03, 2022
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Recent wildfire seasons, especially in western states, have been some of the most costly and destructive on record. Speakers provided an overview of wildfire peril, the importance of mitigation methods, and the impacts of climate change. They discussed the current effects of recent wildfire seasons on the insurance industry and policyholders and provide a review of recent regulatory actions and potential public policy responses.

Wildfire Lessons Learned and State of Wildfire Risk Modeling

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Wildfire Lessons Learned and State of Wildfire Risk Modeling

March 17, 2022 | Noon to 1:30 p.m. EDT

Recent wildfire seasons—especially in western states—have been some of the most costly and destructive on record. Join us on March 17 for a webinar that will feature a discussion of the recently released Wildfire: An Issue Paper—Lessons Learned from the 2017-2021 Events.

Contingencies, March/April 2022

In the March/April Contingencies, “At the Dry-Erase Board” covers how an enterprising company can provide small-amount life insurance to individuals with low and extremely variable income; “Taking Stock: The Feeling Is Mutual” notes that insurance company ownership structure is a strategic decision; and “‘Dr. Robot Will See You Now’” shows how nimble companies are using artificial intelligence and machine learning to improve patient outcomes.

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Committee Publishes Issue Brief on Social Security Retirement Age

The Social Security Committee released an issue brief examining the potential effects of increasing the Social Security normal retirement age, which it has identified as likely to be a key component of any legislation considered to restore Social Security’s long-term financial health.

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Actuarial Update, February 2022

The February Actuarial Update covers the Academy’s input into implementation of Colorado’s new insurance anti-discrimination law. Also in the issue: The Actuarial Standards Board adopted a revision to ASOP No. 4 and the Academy is planning a spring webinar on the topic; Ali Khawar, acting assistant secretary of the U.S.

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This Week, Feb. 21–25, 2022

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Read the latest news from the Academy.

Casualty Quarterly, Winter 2022

The Winter Casualty Quarterly leads with a Q&A on the recent wildfires issue paper from the Casualty Practice Council’s P/C Extreme Events and Property Lines Committee. Also in the issue, the Committee on Property and Liability Financial Reporting released its annual P/C practice note; the P/C Loss Reserves Opinion Seminar and the Annual Meeting and Public Policy Forum included examination of key casualty topics; a P/C public policy webinar covered diversity, equity & inclusion, COVID-19, and other issues; and recent legislative and regulatory activity.

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Cyber Risk Task Force Updates Cyber Risk Toolkit

The American Academy of Actuaries’ Cyber Risk Toolkit, developed by the Academy’s Cyber Risk Task Force, is comprised of a series of papers addressing issues pertinent to cyber risk insurance and cyber exposure. Since the initial publication of the Cyber Risk Toolkit, this document has been updated to include the “War, Cyberterrorism, and Cyber Insurance” section and the “Cyber Risk Resource Guide” section. The toolkit will continue to be updated periodically to reflect new and emerging work from the task force.

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This Week: Capitol Forum Webinar on Retirement Issues Set for March; Academy Presents on New Colorado Insurance Unfair Discrimination Law; Year-in-Review Alert

Read the latest issue of This Week—the Academy's end-of-week digital newsletter, compiling a week’s worth of news, updates, and media coverage in one convenient, easy-to-use publication.

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