Insurance experts rank climate change as top risk for 2019
It’s no secret that climate change comes at a cost — so much so that even the insurance industry has flagged it as a priority. According to a new industry survey, actuaries (the people who calculate insurance risks and premiums based on available data) ranked climate change as the top risk for 2019, beating out concerns over cyber damages, financial instability, and terrorism.
When actuaries correctly measure and manage climate risks, they can help nudge societies away from poor planning — such as overbuilding in high-risk coastal flood zones — and towards better choices — like building more resilient infrastructure designed to withstand anticipated sea level rise.
“The survey shows actuaries are engaged and tackling this risk frontier,” Steve Kolk, actuary and climate data scientist, told Grist. “It thrills me to see actuaries join the effort and help us all build a sustainable planet more quickly.”
The survey, published by the Joint Risk Management Section and two other organizations that represent professional actuaries, found that out of 267 actuaries surveyed, 22 percent identified climate change as their top emerging risk. It was also the top-ranked choice for combination risk and tied with…
15 Photos of Resilience and Commitment Around the World This Week
Workers around the world celebrated International Labor Day on May 1, demanding safer working environments, minimum wage hikes, unemployment benefits, provision of maternity leaves, and an end to discrimination against temporary or foreign workers.
And elsewhere in the world, people are calling for change amid political turmoil.
The crisis in Venezuela is still far from being resolved, worsening the country’s decade-long economic struggle. The two most prominent leaders, President Nicolás Maduro and opposition leader Juan Guaidó, are now calling on their supporters to rally against the other…
Integrating Green and Gray : Creating Next Generation Infrastructure
A new generation of infrastructure projects that harness the power of nature can help achieve development goals, including water security and climate resilience, according to a new report from the World Bank and World Resources Institute. Both organizations are calling for green infrastructure, such as mangroves and wetlands, to play a bigger role in traditional infrastructure planning.
Integrating Green and Gray – Creating Next Generation Infrastructure shows how weaving the power of ‘green’ natural systems, including flood plains and forests, into ‘gray’ traditional infrastructure systems can lower cost and increase resilience….