P/C Extreme Events Committee

This committee has been charged with identifying possible extreme events (low frequency-high severity events that could generate extremely large property/casualty losses). Furthermore, the committee identifies issues relevant to the treatment of such risks including sizing, insurability, pricing, funding, reserving, capital management, and loss mitigation. Included in the committee’s charge will be monitoring of federal and state catastrophe legislation and interaction with the NAIC on these issues.

Staff liaison: Lauren Pachman

Chairperson(s): Jeff McCarty, Stuart Mathewson
 Shawna Ackerman
 Stephen Alexander
 Terry Alfuth
 Mark Allaben
 Clifford Angstman
 Cecil Bykerk
 Wanchin Chou
 William Dove
 Joshua Feldman
 Sara Frankowiak
 Steven Gathje
 Victoria Gomez
 Stacey Gotham
 Larry Haefner
 Mark Homan
 David Lalonde
 Ramona Lee
 James Murphy
 Rade Musulin
 Kathryn Rokosz
 Dan Spafford
 John Swisher

Related Publications

Determining the Impact of Climate Change on Insurance Risk and the Global Community
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)
Presentation to NCOIL on Actuarial Rates in the Context of NFIP Hazard-Mapping
Extreme Events Committee presentation on actuarial rates in the context of the National Flood Insurance Program (NFIP) before the National Conference of Insurance Legislators. (July 17, 2011)
Flood Insurance Subcommittee Presentation to NCOIL
Stu Mathewson, chair of the Academy's Flood Insurance Subcommittee, presentation before the National Conference of Insurance Legislators' (NCOIL) Property-Casualty Insurance Committee on the actuarial implications of the flood mapping update being done within the National Flood Insurance Program. (March 02, 2011)
Group and Health Coverage in the Wake of September 11
Terrorism/Extreme Events Work Group monograph examining the impact of catastrophic terrorist events on group and health coverage, including medical benefits and non-medical benefits such as group life, disability, and long-term care. (December 02, 2002)
Terrorism Insurance Coverage in the Aftermath of September 11th
Extreme Events Committee monograph addressing terrorism-risk insurance coverage in the aftermath of September 11th. (May 01, 2002)