As part of its continuing public policy research program providing objective and independent information based on actuarial analysis, the American Academy of Actuaries today introduced the first model and results of the Actuaries Climate Risk Index (ACRI), which provides results associating dollar estimates of property losses in the United States with changes in extreme weather.
The Academy has long been the most reliable and credible source of objective, independent, and nonpartisan information about actuarial matters that can and do affect public policy decisions in the U.S. We are now releasing the ACRI to provide that objective and independent analysis to assist in answering the question: Are the extreme weather conditions that result from a changing climate producing increased property losses?
The findings contained in version 1.0 of the ACRI are the culmination of years of research. We are presenting them now in the spirit of objective, transparent scientific inquiry and statistical rigor. Read the report. (January 9, 2020)
The Actuaries Climate Index® (ACI) is intended to provide a useful monitoring tool—an objective indicator of the frequency of extreme weather and the extent of sea level change. This website provides graphics and data for download for those who wish to explore the Index. The ACI is available for the United States and Canada and 12 subregions thereof, and will be released when analysis of data for each meteorological season is complete, on both a monthly and a seasonal basis (months ending February, May, August, and November). It was created and is sponsored by the American Academy of Actuaries, the Casualty Actuarial Society, the Canadian Institute of Actuaries, and the Society of Actuaries.
Academy representatives describe the Actuaries Climate Index and the proposed Actuaries Climate Risk Index at a meeting of Casualty Actuaries of Greater New York. (May 23, 2019)
Comment letter from Senior Casualty Fellow Kevin Ryan to the International Association of Insurance Supervisors on climate change risks to the insurance sector. (April 26, 2018)
Presentation to the NAIC Climate Change and Global Warming (C) Working Group on the Actuaries Climate Index and the Actuaries Climate Risk Index. (March 24, 2018)
Academy Senior Casualty Fellow Jim MacGinnitie presented the Actuaries Climate Index and Actuaries Climate Risk Index to the Inter-Agency Forum on Climate Change Impacts and Adaptations meeting at NASA headquarters in Washington. (March 16, 2017)
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 07, 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)