Aon’s Research Forum 2021
Duration: 1 hour
Ladislav Palan, Lead Flood Model Developer & Chairman of Aon´s Research Forum, Impact Forecasting
Peter Pazak, Lead Earthquake Model Developer, Impact Forecasting
Sharanjit Paddam, Head of ESG Risk, QBE Group
Peter Cheesman, Head of Analytics (APAC),Aon.
James Knight, Head of Catastrophe Research (ANZ), Aon
Ten years after: lessons learnt from the New Zealand earthquake
On February 22, 2011, a magnitude 6.3 earthquake hit New Zealand’s South Island. For this event, with the epicenter very close to the cities of Christchurch and Lyttelton, the shaking was more destructive and the liquefaction more extensive than any previous earthquake in New Zealand’s recent history. The earthquake caused USD27bn in damage, equating to 20% of GDP, with 185 people losing their lives and 15,000 losing their homes. We explore how the re/insurance market has matured with products adapted to local requirements and the evolution of rigorously-enforced building codes.
Back to the Future for Catastrophe and Climate Risk
We look backwards (at 2011) and forwards (at future decades) to understand weather peril projections and their financial implications. Sharanjit Paddam from QBE Group, who led the Climate Measurement Standards Initiative (CMSI), will discuss the recommendations for the climate change analytics that will drive the insurance industry while Aon’s Peter Cheesman and James Knight provide examples of the standards in practice.