Future Flood Risk and the PRA Climate Change Stress Tests

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Presented by

Tom Philp, Maximum Information; Matthew Jones, Nasdaq; Andrew Smith and Natalie Lord, Fathom; Matthew Grant, InsTech London

About this talk

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 we are supported and joined by Fathom and Nasdaq talking about some of the practical steps insurers can take to assess the risk. We'll review how Fathom's flood models are being climate conditioned and how these will be supported by the Nasdaq risk modeling 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. This event builds on previous discussions we have had with Fathom including a podcast with co-founder Andy Smith (https://bit.ly/3qptby8) and past events on flooding with Nasdaq (https://bit.ly/3zUPmks). Matthew Grant explains here (https://bit.ly/3vVcNGO) why this and other climate regulation is so significant for the industry. The panel for this event includes: 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 The learning objectives for this Live Chat are: - Understand the requirements recently released by the Prudential Regulation Authority for banks and insurers regarding future climate change risk - Learn about how it is going to impact future flood and catastrophe risk modelling - Learn from industry experts about best practice for performing climate change stress tests in line with recent regulatory changes

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InsTech London is the fastest growing community of people and companies working together to bring the best technology, data and analytics to solve today's insurance and risk management challenges. Based in the UK but with over 50% of our members accessing us from around the world, we are bringing together people from companies of all sizes in insurance, technology, risk management and investment. The primary roles of InsTech London are 1) to help insurance companies find the best solutions to their needs, and 2) help technology companies find markets, investors and clients. We also offer individual membership and corporate membership. More details at www.instech.london