Description: Presenters will explore how climate risks are measured scientifically, and in what ways the insurance and reinsurance industries can play a larger role in managing risk. In an accessible manner and assuming no scientific background from the audience, we will review and discuss the background of climate science, and the unique role that the insurance industry can play. Specifically, we will discuss outcomes from a recent interdisciplinary workshop, 'The Nexus of Climate Data, Insurance, and Adaptive Capacity,' held November 2018 at The Collider in Asheville, NC. The workshop facilitated a national, interdisciplinary scientific research discussion on modeling and managing climate change risks between three different, but related research communities: the climate modeling and data community, statisticians, and researchers within the insurance and reinsurance industries. Co-sponsors of the workshop include the Society of Actuaries (SOA), the Casualty Actuarial Society (CAS), the National Science Foundation (NSF) and the Statistics and Applied Mathematical Sciences Institute (SAMSI)

Description: This report examines weather conditions for precipitation, drought conditions, and tornadoes that are extreme in an historical context.

Description: Actuarial Weather Extremes: November 2021 Extreme Precipitation, Drought, and Late Season Tornadoes This report examines weather conditions for precipitation, drought conditions, and late season tornadoes that are extreme in an historical context. Extreme Precipitation in the Pacific Northwest: Many Global Historical Climatology Network (GHCN) stations in Northwest Washington state and Southwest British Columbia had record November daily precipitation amounts on November 14 and 15, 2021 when looking back to 1960. During and after those dates, many U.S. Geological Survey (USGS) stream gage stations in Washington had readouts that were from Flood Stage to Major Flood Stage. Drought Conditions increase in Continental U.S. as Drought Moves East: Severe drought conditions in the Western U.S. dissipated somewhat, but in the Continental U.S. as a whole, the footprint where drought conditions exist has increased overall, and is driven primarily by increased drought in South-central and Middle Atlantic states. Late Season Tornado Activity: Comparing the historical database of tornado activity and the recent activity in the state of New York, of 24 November tornadoes reported in New York since 1950, nine occurred on November 13, 2021. These late season tornadoes are rare in New York, and November 2021 was exceptionally active for these storms.