Extreme Events

Floods, earthquakes, other natural catastrophes; terrorist events; and mass torts.

Casualty Practice Council and P/C Extreme Events Committee letter to U.S. Senate Banking, Housing and Urban Affairs Committee on HR 2901, The Flood Insurance Market Parity and Modernization Act, concerning an expanded role for private insurers in the flood insurance marketplace. (May 25, 2016)
Casualty Practice Council and P/C Extreme Events Committee letter to U.S. House of Representatives on HR 2901, The Flood Insurance Market Parity and Modernization Act, concerning an expanded role for private insurers in the flood insurance marketplace. (April 26, 2016)
Terrorism Risk Insurance Subcommittee comments to NAIC’s Blanks Working Group on its terrorism risk insurance supplement and instructions draft. (July 30, 2015)
Terrorism Risk Insurance Subcommittee comments to NAIC on its “Terrorism Risk Insurance Supplement and Instructions” draft. (July 6, 2015)
The Terrorism Risk Insurance Subcommittee of the Casualty Practice Council sent a comment letter to the Federal Insurance Office of the Department of the Treasury regarding the process by which terrorist events are certified for purposes of triggering the Terrorism Risk Insurance Program (as recently amended). (March 6, 2015)
Casualty Practice Council letters to U.S. Senate and House leaders urging reauthorization of the Terrorism Risk Insurance Act (TRIA), which is set to expire on Dec. 31. (December 4, 2014)
Presentation at NAIC’s Center for Insurance Policy and Research (CIPR) Symposium on “Implications for Increasing Catastrophe Volatility on Insurers and Consumers” that updates progress on the development of an Actuaries Climate Index and Actuaries Climate Risk Index. (October 7, 2014)
Presentation to the NAIC’s Climate Change and Global Warming Working Group on the development of an Actuaries Climate Index and Actuaries Climate Risk Index. (August 17, 2014)
Casualty Practice Council comments to U.S. House leaders on the TRIA Reform Act of 2014 in support of reauthorizing the terrorism risk insurance program and maintaining a government backstop for a peril that is difficult to fully insure in the private market. (July 16, 2014)
Presentation at National Conference of Insurance Legislators Summer Meeting on the evolving role of the private market in providing flood insurance. (July 11, 2014)
Casualty Practice Council comments to Senate leaders on the Terrorism Risk Insurance Reauthorization Act of 2014 in support of reauthorizing the terrorism risk insurance program and maintaining a government backstop for a peril that is difficult to fully insure in the private market. (July 10, 2014)
Natural Catastrophe Subcommittee letter to U.S. House members on repealing some premium increases mandated by the Biggert-Waters Flood Insurance Reform Act of 2012. (February 26, 2014)
Letter to U.S. Senators on modifying the Biggert-Waters Flood Insurance Reform Act of 2012 to delay implementation of some premium increases mandated by the law. (January 24, 2014)
Terrorism Risk Insurance Subcommittee comment letter to the Federal Insurance Office on the long-term availability and affordability of insurance for terrorism risk. (September 16, 2013)
Presentation to National Conference of Insurance Legislators Summer Meeting on the future of the National Flood Insurance Program following the 2012 passage of the Biggert-Waters Flood Insurance Reform Act. (July 11, 2013)
Extreme Events Committee comment letter to the Federal Insurance Office on the current state of the market for natural catastrophe insurance. (June 24, 2013)
Casualty Practice Council presentation to the NAIC's Center for Insurance Policy and Research Brunch event on insurance for acts of terrorism. (April 9, 2013)
This report is the product of Phase I of a multi-phase project commissioned by the Casualty Actuarial Society (CAS), Canadian Institute of Actuaries, Society of Actuaries, and the American Academy of Actuaries' Property/Casualty Extreme Events Committee and prepared by Solterra Solutions, with input from the CAS's Climate Index Working Group. With this project, the actuarial organizations are responding to the emerging risk of climate change by collaborating to recommend, support, and perform research on climate change and assess the potential risk management implications for the insurance industry. (October 31, 2012)
Flood Insurance Subcommittee presentation to the NAIC’s Center for Insurance Policy and Research Summit on flood insurance reform. (August 14, 2012)
Flood Insurance Subcommittee comment letter to Congressional leaders concerning H.R. 4348, a bill to reform the National Flood Insurance Program and reauthorize it for five years. (June 28, 2012)