Economic scenario generators can be a useful tool in modelling and forecasting, and can also be used to effectively reflect the risks associated with climate change. In this episode, economist Sohini Chowdhury joins us once again to explain how economic scenario generators can be used by insurance companies and pension plans, and what impact climate can have on these scenarios.
The inter-related and combined influences of climate and cities – temperature, moisture, infrastructure, and ultimately people – on urban extreme weather events needs to be better understood. This is especially so as many cities adapt too slowly to keep pace with our changing climate.
Climate-related financial risks have emerged as some of the most important topics among risk professionals. While plenty of material has been produced to provide essential learning about the sources and definitions of climate-related risk, a practical climate-risk exercise focused on the Canadian financial system was notably absent. The 2021 Bank of Canada (BoC)/Office of the Superintendent of...
The Canadian Institute of Actuaries (CIA) is proud to give its support to the final report of the Office of the Superintendent of Financial Institutions (OSFI) and the Bank of Canada’s climate scenario analysis pilot, released in January 2022. The report, the first of its kind in Canada, assesses and discloses climate transition risk associated with six major financial institutions and...
What do risk managers see as the major risks confronting us in a not so far future? The 15th annual survey of emerging risks – sponsored by the CIA, Society of Actuaries, and Casualty Actuarial Society – provides insight into that question. Max Rudolph, FSA and author of the survey report, joins us to highlight the survey’s key findings.
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