Annual Meetings-Emerging Trends Weather & Climate: Volatility or Change in the Air?

Pdf Summary

The document discusses the volatility and changes in weather and climate patterns, particularly focusing on the impact on catastrophe events in North America. It explores the increasing acknowledgment of more frequent and severe extreme weather events globally. The text highlights the rise in global insured catastrophe losses from 1970 to 2018 and notes disruptions in natural cycles, such as the disputed pause in global temperatures in the 2000s.<br /><br />Specific events like the 2016 Mega El Niño, acceleration of Arctic sea ice loss, extreme rainfall events, and atmospheric rivers are examined. The text also touches on the increase in crippling US snowstorms and wildfires, noting anomalous heat and earlier onset of spring contributing to record-setting loss years. The document emphasizes the importance of understanding climate change and its link to extreme weather events.<br /><br />As climate patterns evolve, the document suggests leveraging analytics and technology for objective risk assessment, risk differentiation, and mitigation. Lessons learned include the need for improved disaster management, supply chain risk technology, and real-time monitoring to address the escalating volatility in weather patterns. Overall, the text delves into the complexities of weather and climate trends, underlining the necessity for proactive measures to adapt to and mitigate the impacts of changing weather patterns.

Asset Caption

Presented by : Josh Darr, Guy Carpenter

Keywords

volatility

weather patterns

climate change

catastrophe events

extreme weather events

insured catastrophe losses

Arctic sea ice loss

US snowstorms

wildfires

risk assessment