Future Flood Risk and the PRA Climate Change Stress Tests

In June this year the Prudential Regulation Authority, part of the Bank of England, released its requirements for banks and insurers to explain their future exposure to climate change risk. This event was hosted by Instech and joined by Fathom and Nasdaq talking about some of the practical steps insurers can take to assess the risk. Expect the usual lively discussion, deep learning and audience participation.

In June this year the Prudential Regulation Authority, part of the Bank of England, released its requirements for banks and insurers to explain their future exposure to climate change risk. Three specific scenarios for 2050 have been proposed. Catastrophe models are widely used by insurers, but estimating losses into the future still provides many challenges. For this event, InsTech hosted Fathom and Nasdaq to discuss some of the practical steps insurers can take to assess the risk. We'll consider how our flood models are being climate conditioned and how these are being supported by the Nasdaq risk modelling for catastrophes platform. Tom Philp from Maximum Information will help set the scene and bring his experience from talking to and helping insurers address climate change stress tests. Expect the usual lively discussion, deep learning and audience participation.

The panel for this event includes:

Matthew Grant, Partner, Instech
Dr Tom Philp, Chief Executive Officer, Maximum Information
Dr Matthew Jones, Head of Catastrophe Risk Products, Nasdaq
Dr Andrew Smith, Chief Operations Officer, Fathom
Dr Natalie Lord, Senior Climate Change Expert, Fathom

RESOURCE: Want to learn more about CBES? Read our short explainer.

BLOG: In this interview, we spoke with Nasdaq to discuss how our latest climate conditioned model can support insurers to stress test against climate related flood risk.

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