On 16 March 2022, the International Actuarial Association (IAA) announced the publication of Climate Science: A Summary for Actuaries, prepared by the IAA’s Executive Committee’s Climate Risk Task Force in association with the United Nations Intergovernmental Panel on Climate Change (IPCC) Working Group I Technical Support Unit. This Summary, based on the IPCC Working Group I Sixth Assessment Report released in August 2021, is tailored to the actuarial community to provide helpful insights into what the IPCC report means for the Actuarial profession.
Actuaries, as risk professionals, need to understand the physical impacts of climate systems and climate changes. Such impacts will affect how risks are underwritten, priced, managed, and reported, whether for general, life or health insurance, pensions, other financial institutions, or social security. It is important for actuaries to understand the magnitude of the potential changes, the uncertainty of their frequency and intensity, and the inherent volatility of such risks.
The complete News Release can be accessed online in English and French.
On April 13 at 8:00 AM (EDT), the IAA Climate Risk Task Force will host a complimentary webinar jointly with the IPCC) Working Group I Technical Support Unit to present this publication. To register for the webinar, please click here. Registration is open to actuaries of IAA member associations but also to all who are interested in this topic. Please share this message to parties in your jurisdiction who might be interested.