NIA - Swiss Re International Seminar. th th. 7-8 February, Swiss Re

Transcription

1 NIA - Swiss Re International Seminar th th 7-8 February, 2019 Swiss Re

2 Introduction CHALLENGES OF CLIMATE RISKS ON INSURANCE BUSINESS - RISK MITIGATION AND ADAPTATION STRATEGIES Climatic change brings new risks but also new opportunities for the economy in general and insurance sector in particular. The impact of climate risk on Asian region has been severe and disproportionate. However, this differs according to a country s topography, demography, and degree of economic development. Many Afro-Asian countries are characterised by high vulnerability of their population with regard to climate risk. Therefore, the potential impact of climate risk calls for mitigation and adaptation measures. The contribution of insurance industry to help mitigate these impacts is still far from the desired level. However, the industry has proven to be forward looking by nature, and it can endeavour to devise long term comprehensive approach in collaboration with other economic actors like Government Authorities, NGOs etc. It thus has a strong interest in understanding the impacts of climate risk and identifying mitigation and adaptation approaches. About the Seminar The seminar on Challenges of Climate Risks on Insurance Business will focus on - Creating and designing innovative insurance schemes for public at large. Informing decision-makers, at industry as well as country level to decide appropriate risk financing solutions for effective risk mitigation and adaptation, survivability and sustainability; by highlighting the assessment of risks from climate change on long term as well as short term basis. From the Risk Management perspective, this seminar will also explore the implications of climate change across the world, in terms of both physical impact and regulatory responses. The seminar will also identify and develop approaches that will enable the insurance industry to support effectively the climate change adaptation and mitigation, by providing catastrophe reinsurance cover against extreme weather events. Areas to be Covered 1. Climate Change and the Insurance Industry: Preparedness and Adaptation 2. Regulatory Preparedness and their Response to combat Climate Risk 3. Integrated Approach by the Policymakers to Manage Extreme Events and Climate Risks 4. Rising Extreme Cat Events and Industry's Response to mitigate them 5. Evaluating the Economics of Climate Risks and Opportunities in the Insurance Sector 6. Impact of Climate Risk on Property, Pandemic Risks, Agriculture and Life 7. Impact of Climate Risk and Risk Assessment to Support Risk Financing and Risk Transfer Methods 1. Rising Severity of Climate Risks and its implications on Insurance Business Global Scenario; o Global Warming and its consequences on Catastrophic Risks: A Global Perspective o The potential impacts of climate risk on Asian Region and how do we manage these extreme risks.

3 2. Integrated Approach by the Policymakers to Manage Extreme Events and Climate Risks o Regulatory Preparedness and Possible Regulatory Changes fostering insurance industry response to combat Climate Risk. o Role of Government Climate Risk Management Policy to Identify and Quantify socio-economic risks of climate change and conduct cost-benefit analysis of possible measures. o Develop Comprehensive and Integrated Risk Management Plans. o Improving Financial Resilience of Governments against Extreme Weather Events o Reducing vulnerability to Climate Change through efficient cooperation between Financial Institutions and Insurers o The way forward strengthening climateresilient development through concerted effort 3. Evaluating the Economics of Climate Risks and Opportunities in the Insurance Sector o Rising Extreme NATCAT Events and Industry's Response to mitigate them. o Increasing the resilience of societies and the most vulnerable what is the role of climate risk insurance? o Covering vulnerable regions where are the gaps and how can they be filled? o Catastrophic Risk Models Need to improve the accuracy of CAT Models 4. Insurer's response to mitigate the Severity of Climate Risk on Property, Pandemic Risks, Agriculture and Life ; o Impact on Property Insurance and NATCAT Insurance o Impact on Health, Life and Pandemic Risks o Impact on Agriculture Insurance o From Micro Insurance to Climate Risk Insurance: new ways to transfer risk for the poor and vulnerable. 5. Impact of Climate Risk and Risk Assessment to Support Risk Financing and Risk Transfer Methods o Adequacy of Reinsurance coverage Challenges for Reinsurers o Alternative Risk Transfer (ART) A need to develop Hybrid CAT Bonds o Risk Pools How to strengthen the NATCAT Risk Pools o Innovative Risk Transfer to mitigate Agriculture Risks Dates 7th & 8th February, 2019 Seminar Coordinators: Mr. Aswathanarayana Chair Professor (General Insurance) aswathanarayana@niapune.org.in Dr. S. Doss Associate Professor gdoss@niapune.org.in Who Should Attend? This Seminar would be an ideal platform for Insurers (Life, Non- Life, Health), Reinsurers, Brokers, Regulators, Insurance Associations, Consultants, Risk Managers, Corporates, Banks, Educational Institutions, Government Agencies, NGOs and MFIs to exchange views, debate emerging issues and gain new perspectives on the challenges of climate risks on the economy at large and particularly insurance and or reinsurance business.

4 Participation Fees Bank Details Participants from India / Nepal / Bhutan Fees Per Participant Overseas Participants Participants from India, Nepal, Bhutan (Fees in INR) Account Holder - National Insurance Academy Bank of Maharashtra, Pune Overseas Participants (Fees in US $) Account Holder - National Insurance Academy Bank of Maharashtra, Pune (India) Branch Code 1121 Branch Code * 10% flat discount for three nominations Nominations Nominations should be made in the prescribed form not later than 1st February, For registration, send your mail to: mvijay@niapune.org.in; ramtekes@niapune.org.in The course fee may be made through Bank transfer or Demand Draft, in favour of National Insurance Academy, payable at Pune. Bank charges shall be borne by delegate. LANGUAGE OF COMMUNICATION English INR 11,800/- US$ 472/- (Rs % GST) (US$ % GST) Account No Account No Type of Account - Savings MICR Code IFSC Code - MAHB Type of Account - Savings SWIFT Code - MAHBINBBOCP Kindly pay an additional amount of US $ 8 towards SWIFT transfer charges Mode of electronic transfer available : RTGS / NEFT / SWIFT Venue Taj Santacruz, Mumbai Chhatrapati Shivaji International Airport (Domestic Terminal) Off Western Express Highway, Santacruz (East) Mumbai , Maharashtra, India M: T:

5 NATIONAL INSURANCE ACADEMY (NIA) NIA is a premier organization in India with a vision to be a global institution of excellence in learning and research in insurance, pension and allied areas. Established in 1980, under the aegis of Ministry of Finance (Government of India); Life Insurance Corporation of India (LIC), General Insurance Corporation of India (GIC) and Public Sector General Insurance Companies National Insurance Co. Ltd., The New India Assurance Co. Ltd., The Oriental Insurance Co. Ltd. and United India Insurance Co. Ltd. as its promoters. NIA has been conducting activities for insurance industry in the area of education, training and research. The Management Development Programmes of the Academy cater to the working professionals of the industry to update their domain knowledge and hone management skills. The Post Graduate Diploma in Management, a two year flagship programme of NIA fulfills the rising demand of qualified young talent in insurance and risk management. NIA is a recognized Research centre for PhD. degree of Savitribai Phule Pune University. Swiss Re The Swiss Re Group is one of the world s leading providers of reinsurance, insurance and other forms of insurance-based risk transfer, working to make the world more resilient. It anticipates and manages risk from natural catastrophes to climate change, from ageing populations to cyber-crime. The aim of the Swiss Re Group is to enable society to thrive and progress, creating new opportunities and solutions for its clients. Headquartered in Zurich, Switzerland, where it was founded in 1863, the Swiss Re Group operates through a network of around 80 offices globally. It is organised into three Business Units, each with a distinct strategy and set of objectives contributing to the Group s overall mission. Swiss Re Bangalore: Swiss Re Global Business Solutions Centre (BSC) Bangalore is an analytics-driven operational hub of Swiss Re, and one of the three BSCs that partner with business functions globally to deliver on the Swiss Re strategy. In today's dynamic business environment, especially with technology-spurred disruptions, Bangalore BSC is helping accelerate Swiss Re's competitiveness across markets through R&D-focused initiatives, innovation, and analytics. Established in 2001, Swiss Re Bangalore has traversed a remarkable journey of growth, acquiring deep capabilities, and today, is poised to establish itself as a Centre of Excellence. Address For Communication 25, Balewadi, Baner Road, NIA P.O., Pune India Tel. : , mvijay@niapune.org.in;ramtekes@niapune.org.in; contactus@niapune.org.in Fax. : , Website :