UNSW Workshop on Risk and Actuarial Frontiers
Climate Risk and Insurance
The “UNSW Workshop on Risk and Actuarial Frontiers: Climate Risk and Insurance” brought together UNSW experts and industry thought leaders to discuss the role of insurance and actuarial science in addressing climate risks. The workshop was hosted by the School of Risk and Actuarial Studies at UNSW in collaboration with the UNSW Innovations in Risk, Insurance and Superannuation (IRIS) Knowledge Hub and the UNSW Institute for Climate Risk & Response. The workshop addressed key issues such as climate risk projections, impact analysis, risk mitigation, insurance pricing, and insurance affordability.
The workshop featured short industry and research presentations, discussions, and networking opportunities for the 130 participants.
Session 1: Understanding climate risk
Moderator: Katja Hanewald, School of Risk and Actuarial Studies (RAS), UNSW Business School
Speakers:
Ben Newell (UNSW ICRR), “Climate endgame? (how) do people understand projections about future climate change?”
Alex Pui (Commonwealth Bank), “Financial Risks of Climate Change: Piranhas or Red Herrings?”
Tim Neal (UNSW ICRR), “The Importance of External Weather Effects in Projecting the Economic Impacts of Climate Change”
Qihe Tang + Eugenia Fang (RAS), “Understanding compound weather and climate events through the lens of systemic financial crises”
James Basman (Allianz), “Climate change implications for financial risk management / scenario analysis and APRA's CPG 229”
Session 2: Insurance affordability
Moderator: JK Woo, School of Risk and Actuarial Studies (RAS), UNSW Business School
Speakers:
Jeremy Moss (UNSW Political Philosophy), “Justice and disaster insurance”
Sharanjit Paddam (Finity) “Home insurance affordability”
Alison Drill (Swiss Re), “Natural disaster risk and insurance affordability”
Elaine Collins (RAS), “Cyclone reinsurance pool”
Fei Huang (RAS), “Fairness-welfare analysis: A framework for ethical decision-making”
Session 3: Pricing for climate risk in financial institutions
Moderator: JK Woo , School of Risk and Actuarial Studies (RAS), UNSW Business School
Speakers:
Lisa Ye (Suncorp), “Pricing for natural perils in general insurance”
Peiman Asadi (IAG), “Pricing hailstorms in general insurance”
Matteo Malavasi (RAS), “Real option approach to flood risk management”
Patrick Laub (RAS), “Dependence modelling for natural catastrophes”
Ramona Meyricke (IFM), “Pricing and modelling transition risk”
Yuhao Liu (RAS), “Green bond pricing”
Katja Ignatieva (RAS), “Challenges in electricity price modelling due to climate change”
