Insurance industry to hear from climate change risk expert

From

Ryan Springall

This month, the insurance industry will hear from climate change risk expert Dr Ryan Springall in an upcoming ANZIIF live webinar ‘Allocating capital for climate extremes’.

Springall will discuss climate change in terms of the insurance context, including how catastrophe models can be used to help quantify the impact of a change in climate variables on organisations.

‘The first point for someone who attends the webinar to appreciate is how global risk financing occurs and the concept of diversification,’ says Springall.

‘In terms of climate change, hurricanes in the United States could have just as big an impact on Australian risk financing as local bushfires. That’s because we rely on global capital to finance risk.’

Dr Ryan Springall is the General Manager at catastrophe modelling specialist Risk Frontiers, a company that helps ‘provide an objective view of the impact climate change will have on physical risk in Australia’.

He encourages insurers to register for the webinar to continue their education and discussion in the industry around what climate change means for the industry.

‘It’s important to have a clear understanding of the issues when talking to potential clients about the actual impact of climate change on their risk profile, versus the other risks out there that all individuals and businesses face,’ he says.

ANZIIF’s ‘Allocating capital for climate extremes’ webinar will take place on May 20 and is worth 1 CIP Point. ANZIIF recently launched its live webinar program to support the industry and ensure professional development learning opportunities continue during the COVID-19 pandemic.

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