Climate Change
Verisk Climate Change Solutions Reflect the Latest Science
Verisk Climate Advisory Council
The impact of climate change on extreme events is apparent for some perils like extreme heat, inland and coastal flooding and wildfire, but for others the effects are less clear. As we develop our views of the evolving risk, Verisk has formed the Climate Advisory Council to ensure the solutions we create reflect the latest science. Verisk’s deep industry expertise and cutting-edge technologies, combined with research-backed insights from the Climate Advisory Council, help you develop more accurate insights to address the near-term and long-term climate impacts on your natural catastrophe-exposed portfolio by region-peril.
With Verisk’s climate change solutions, you can:
Respond to regulatory requirement disclosures, stakeholders and investors reporting
Stress-test and rebalance your portfolios
Gain peril-specific insights which informs mitigation and adaptation strategies
Improve climate risk insights and streamline reporting
Verisk Helps Clients Respond to Regulatory Requirements
Verisk's Climate Change Practice helps firms satisfy the regulatory climate disclosure requirements such as Task Force on Climate-Related Financial Disclosures (TCFD), Bank of England’s 2021 Climate Biennial Exploratory Scenarios (CBES), the Climate Change Exposure Assessment 2021 (CCEA) by the Bermuda Monetary Authority (BMA), and other regulatory bodies globally.
Gain Climate Risk Insights, Stress Test and Manage Your Portfolios
We understand the crucial role that data and technology play in climate risk assessment and your ability to accurately quantify and price the risk. Touchstone®, Verisk’s extreme event risk modeling platform, can help you quantify the threats you’re facing from the near-term climate. Find out which perils are your main loss drivers, and how risk may change over time.
Climate change-conditioned projections can help identify the sensitivity of your portfolio and provide a range of possibilities on how future climate change can impact average annual losses (AALs) and other metrics – such as 100-year loss – under different Shared Socioeconomic Pathway scenarios (SSPs) with different climate policies.
Climate change liability scenarios help pinpoint the sensitivity of your portfolio to liability risks resulting from the changing climate.
Industry exposure data sets can help produce a more accurate risk analysis.
Custom event frequency in Touchstone enables you to resample a stochastic catalog to create climate change–conditioned catalogs, compute modified exceedance probability (EP) curves, quantify the impact on cat treaties, and assess the effects of demand surge; this feature can be used for stress testing, model validation, and creating your own view of risk.
Model documentation for atmospheric perils includes a climate change chapter highlighting the consideration of historical trends during model development, the underlying model data, and validation of the model from a climate change perspective.
Climate change risk indices, available through Verisk Maplecroft™, help you understand and evaluate the exposure of your operations, supply chains, and investments to climate change-related risks and align corporate reporting with TCFD recommendations and other benchmarks.
Gain Peril-specific Insights
Verisk’s atmospheric peril models are updated frequently to reflect the climate change that has already happened. Our climate change solutions offer a near-present view of risk for climate disclosure and ESG reporting, stress-testing, and rebalancing portfolios. For a longer-term view of the risk, Verisk has completed peril/region-specific studies that have helped insurers with strategic planning and answering questions from various stakeholders. Similar consulting studies can be completed to reflect your view of risk.
Contact Verisk’s Climate Change Practice for More Information
Climate Change Knowledge Center
Develop a Comprehensive View of Climate Change Risk
Our solutions can help you evaluate the risk of climate change across several verticals to plan strategies for resilience and growth.
