Joint Meeting Climate & Catastrophic Events and Reinsurance Working Parties

The seventeenth meeting of the CCEWP took the form of a joint meeting with the AIDA Reinsurance WP and was held between 14:00hrs and 15:30 hrs on Friday 13 April 2018 at the Hotel Sofitel Victoria in Warsaw during the 7th AIDA Europe Conference (12-13 April 2018).

Topic: The role and requirements of reinsurance in addressing potentially greater future catastrophe losses.

• Where and how reinsurance can/does best help provide effective protection against the risk of ever-greater losses being suffered worldwide from natural and man-made catastrophes
• Essential features and requirements, both contractual, regulatory and otherwise
• Limitations of, and challenges to, traditional reinsurance products and catastrophe risk modelling
• Illustrations in both developed and emerging markets of techniques, innovations and applications necessary to realise essential goals of: capacity/availability/affordability of cover; contract and regulatory certainty/limitation of risk/cashflow; interface with State support/finance/relief; and contribution to risk management and Climate Change mitigation and adaptation efforts.
• Cat modelling; cat bonds; recent event/aggregation/loss coverage scenarios, lessons and responses; examples of State scheme interfaces; microinsurance; contrasting levels worldwide of insured/uninsured ratios and proposed responses.

Moderation: Tim Hardy, Chairman of the Climate & Catastrophic Events Working Party/UK and Jorge Angell, LC Rodrigo Abogados, Madrid / Spain, Chairman of the AIDA Reinsurance Working Party

Speakers:

Francisco Javier Zabala/ Spain - Challenges for Reinsurers and Governments in Risk-Sharing Catastrophe Perils

Rich Traub/US - Impact of Technology on Insurance and the Pricing of Reinsurance

Shivaun Moreno/Germany - Reinsurance & Climate Change - Challenges & Contributions

Prof. Dorota Masniak/Poland - A Polish perspective upon State support in Flood Loss coverage and the role of prevention

A Report was also produced for the meeting by the Mercosur Group - Drought in the Mercosur Region.