NH024
Transferring Risk: Bridging science, practice and policy to in(en)sure sustainable natural peril risk transfer/financing applications
Session ID#: 160958
Session Description:
In 2021, about half of economic losses from natural hazards were uninsured, reflecting society’s “protection gap.” Despite many advances in assessing and addressing human-relevant natural hazards (e.g., droughts, wildfires, cyclones, flooding, extreme temperatures, earthquakes), a significant disconnect remains between the state of science and practice. This disconnect translates into missed opportunities to manage or mitigate the risks that imperil people’s lives, property and livelihoods. This session seeks to bridge the space between research and practice to address society’s protection gap. Thus, we welcome submissions from academics and practitioners in the areas of risk management, transfer, and financing to address how improved assessments of natural hazards, exposure, and vulnerability can improve the design and deployment of risk management products (e.g., traditional (re)insurance, index and parametric insurance, catastrophe bonds, and forecast-based financing), especially those with innovative applications of earth observations, weather data, physical models, and forecasts.
Co-Organized:
Index Terms:
1630 Impacts of global change [GLOBAL CHANGE]
4333 Disaster risk analysis and assessment [NATURAL HAZARDS]
4336 Economic impacts of disasters [NATURAL HAZARDS]
4337 Remote sensing and disasters [NATURAL HAZARDS]
Primary Convener: Colby K Fisher, Hydronos Labs LLC, Princeton, NJ, United States
Conveners: Elinor Benami, Virginia Polytechnic Institute and State University, Agricultural and Applied Economics, Blacksburg, United States and Michaela Dolk, World Bank, London, United Kingdom
Using Non-realised Physical-consistent Storms from Ensemble Predictions for Parametric Typhoon Insurance – A Conceptual Approach (1051245)
Gregor C Leckebusch, University of Birmingham, School of Geography, Earth and Environmental Sciences, Birmingham, B15, United Kingdom; Free University of Berlin, Institute for Meteorology, Berlin, Germany and Kelvin Ng, University of Birmingham, Birmingham, B15, United Kingdom
Altruism and Solidarity Reduce Climate Risk in Smallholder Farmer Communities (1089709)
Nicolas Choquette-Levy1, Matthias Wildemeersch2, Simon Levin3, Fernando Pascoal Dos Santos4 and Michael Oppenheimer1, (1)Princeton University, School of Public and International Affairs, Princeton, NJ, United States, (2)IIASA International Institute for Applied Systems Analysis, Laxenburg, Austria, (3)Princeton University, Ecology and Evolutionary Biology, Princeton, NJ, United States, (4)University of Amsterdam, Amsteram, Netherlands
Get in the Zone: The Risk-Adjusted Welfare Effects of Machine Learning to Define Index Insurance Zones (1119390)
Elinor Benami, Virginia Polytechnic Institute and State University, Agricultural and Applied Economics, Blacksburg, United States, Andrew Hobbs, University of San Francisco, San Francisco, CA, United States, Michael Carter, University of California Davis, Agricultural and Resource Economics, Davis, CA, United States and Zhenong Jin, University of Minnesota Twin Cities, Department of Bioproducts and Biosystems Engineering, Saint Paul, United States
Satellite Fusion Based Historical Inundation Estimates for Accurate Return Period Estimates in Bangladesh (1129827)
Jonathan Giezendanner, University of Arizona, Tucson, AZ, United States, Mitchell Thomas, Lamont-Doherty Earth Observatory, Columbia University, Palisades, NY, United States, Max Mauerman, International Research Institute for Climate and Society, Columbia University, Palisades, United States, Upmanu Lall, Columbia University, Earth and Environmental Engineering, New York, United States, Mohammad Arifuzzaman Bhuiyan, Flood Forecasting and Warning Centre, Bangladesh Water Development Board, Dhaka, Bangladesh, Akm Saiful Islam, Bangladesh University of Engineering and Technology, Institute of Water and Flood Management, Dhaka, Bangladesh and Beth Tellman, University of Arizona, School of Geography, Development and Environment, Tucson, AZ, United States
Changes in agricultural insurability in Brazil under increasingly extreme weather conditions (1151128)
Sharon Gourdji, Risk Management Solutions, Inc., Detroit, United States, Navin Peiris, Risk Management Solutions, London, United Kingdom and Ashutosh Pandey, Risk Management Solutions, Noida, India
Design of Parametric Cat-On-A-Grid Tropical Cyclone Triggers: A Case Study for Jamaica (1156190)
Laura Lemke Verderame1, Guillermo Franco1, Roberto Guidotti1, Ye Yuan1, Gianbattista Bussi2 and Paolo Bazzurro2, (1)Guy Carpenter, New York, United States, (2)RED – Risk, Engineering and Development, Pavia, Italy
Applying an Open-Source Tropical Cyclone Risk Model for the Public Good (1172355)
Jane Wilson Baldwin, University of California Irvine, Earth System Science, Irvine, CA, United States; Lamont-Doherty Earth Observatory, Palisades, United States, Chia-Ying Lee, Lamont -Doherty Earth Observatory, Palisades, United States, Suzana Camargo, Columbia University, Lamont -Doherty Earth Observatory, Palisades, NY, United States, Adam H Sobel, Columbia University, Department of Applied Physics and Applied Mathematics, New York, NY, United States, Brian James Walsh, World Bank, Washington, United States, Mona Hemmati, Lamont -Doherty Earth Observatory, Palisades, NY, United States, Cedric W.H. Edmonds, Replexus, Zurich, Switzerland, Adam Bornstein, Danish Red Cross, Copenhagen, Denmark, Dickie Whitaker, Oasis Loss Modeling Framework, London City, United Kingdom and Ben Hayes, Oasis Loss Modeling Framework, London, United Kingdom
A Grid-Based Parametric Loss Warranty for Wildfire Exposure in California (1178553)
Noam Rosenthal1, Zhiyue Ding1, Son Le1, Amit Shah1, Molly Barth2 and Garrett Bradford3, (1)Kettle, Hamilton, Bermuda, (2)Milliman Inc., San francisco, United States, (3)Milliman Inc., San Francisco, United States
