Climate change is a reality which already impacts people around the world. The effects for marine insurers are evident not least in view of the growing number of extreme weather events. When it comes to understanding risks from natural disasters to cargo, a first essential step is knowing the product location and how it is stored. This will offer a sense of what perils the products could be exposed to and the potential damage mechanisms.
Blair Feltmate, Head of Intact Centre on Climate Adaptation, Faculty of Environment at the University of Waterloo provides research insights into the effects of and ways to adapt to climate change. Joss Matthewman, Senior Director, Model and Data Product Management at RMS discusses risk assessment models based on the “new normal” of more extreme weather phenomena. This is complemented by the views from Andreas Ristelhuber, Regional Marine Manager EMEA, Property & Specialty Underwriting at Swiss Re who shares the perspective of a cargo underwriter covering risks around the globe.
Following the presentations the attendees were invited to participate in a Q&A session which is moderated by Isabelle Therrien, Senior Vice President, Falvey Cargo Underwriting and IUMI’s Cargo Committee Chair.