Managing the Risk of Extreme Weather Events in a
First Wednesday Seminar
February 3, 2010
In future years, climate changes may significantly boost both the frequency and severity of storms, hurricanes, and other extreme weather events. Damages from such weather phenomena have been shown to be catastrophic – and climate change could further exacerbate the risks. Moreover, historical data for such risks may be unreliable, loss projections may actually be underestimated, and traditional diversification strategies may fail.
The recent financial crisis, Hurricane Katrina, and major floods point to the need to improve our detection, measurement, and analysis of catastrophic and dependent risks. At this seminar, discussions will focus on how climate change may enhance extreme events, how mitigation can help manage extreme events, how to ensure proper functioning of insurance markets in these situations, and the proper role of the federal government in addressing these risks.
Video and Audio
Event Audio (mp3) click to stream and right-click to download