1. Insurance and Climate Change Project
COLLABORATORS
Carnegie Mellon (NSF Center)
Stanford
UC Berkeley
Postdam
Wharton Risk Management and Decision Processes Center

2. Purposes of the Project
Identify and examine the relevant uncertainties related to the science of climate
Identify climate-related issues most likely to be important for the insurance industry
Develop decision support tools that could support insurance-related decision making

3. 4 Research Areas Direct Climate and Weather Related Impacts
Liability (including D&O Coverage)
Impact on Shareholders’ Value
New Technologies, Emissions Control Policies and Trading Systems.
Study both risks and opportunities due to global warming

4. First Carnegie-Wharton Workshop: “Identify needs in analysis and decision research”
May 8-9, 2006 – Washington, DC
30 participants (academics, public and private sectors, trade associations)
Key challenge: how can we reconcile timeline and agendas of the scientific community and the business community?
Risk Center’s 2-to-3 year research plan to be defined with Carnegie in the coming weeks.