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ICAR Forum - Previous Editions

 
The International CAtastrophic Risks Forum
Catastrophic Risks Management
October 11th, 2016
13th Edition
Sheraton Bucharest Hotel - Platinum Hall
Bucharest, Romania
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ICAR 2016 - Program


08.00 - 08.30
Registration - Welcome Coffee

08.30 - 09.00 Official opening

09.00 - 11.00 PART I
Consequences of natural disasters - latest developments
  • Government approach toward Nat Cat Risks mitigation
  • Impact of the recent natural disasters in Europe - lessons learned
  • Catastrophe loss aggregation - new technologies impacting the insurance industry

XPRIMM Circle of Debates

Moderators:

  • Romeo JANTEA, Consultant, JANTEA Profesional
  • Daniela GHETU, Editorial Director, PRIMM Publications

11.00 - 11.30 Coffee Break

11.30 - 14.00 PART II
Best practices in managing catastrophic risks
  • How can we increase the contribution of the (re) insurance industry to pre-financing risk
  • Insurance-Linked Securities (ILS): Functioning and recent developments
  • Trends in property claims settlement
  • Global catastrophes and loss quantification resulting from property damage

XPRIMM Circle of Debates

Moderators:

  • Romeo JANTEA, Consultant, JANTEA Profesional
  • Daniela GHETU, Editorial Director, PRIMM Publications
Closing remarks
Note: The Organizers can operate any changes necessary to improve this program without prior notice.
 
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With the Official Support of
  MAI WORLD BANK  
Strategic Partner
PAID
Main Partners
JLT
PCS
Partners
SAFETY Broker
MARSH
Media Partners
RFI Revista BIZ
ZIUA VECHE 9AM
Organizer
Media XPRIMM

Points of interest:

  • Failure of climate change mitigation and adaptation has risen to the top and is perceived in 2016 as the most impactful risk for the years to come
  • 2014 and 2015 have been the warmest years across global land and ocean surfaces since records began in 1880.
  • 9 of the 10 warmest years in the 135-year period of record have occurred in the 21st century
  • January through May 2016 warmest first five months of a year on record
  • Climate change is real. It can only be slowed down, but not be stopped anymore
  • Weather related natural disasters are increasing in number and magnitude
  • There is more and more scientific evidence for causal links between global warming and increasing frequencies and intensities of natural catastrophes
  • More Nat Cat insurance covers will become part of the adaptation strategies to climate change, G7
  • The insurance industry is directly affected by climate change in its core business and asset management and has to adapt its risk models
  • The insurance industry can support climate change mitigation and adaptation by providing new insurance solutions for climate friendly technologies, investments into clean energy and energy efficiency projects and the provision of knowhow on disaster prevention
  • More frequent and severe extreme events will increase losses and loss variability
  • Changing loss patterns will challenge insurance systems to offer affordable coverage, provide more risk-based capital
  • Existing uncertainties on regional climate projections and socio economic developments require iterative risk management
  • Insurance cover significantly helps economic recovery following a natural catastrophe
  • Academic studies show that a higher level of insurance cover is accompanied by significantly better economic performance following a catastrophe
  • Depending on the type of catastrophe and the level of economic development, insurance cover can even offset the negative indirect effects of natural catastrophes on national economies