In June, the Guy Carpenter Asia-Pacific Climate Impact Centre (GCACIC) and the School of Energy and Environment, City University of Hong Kong, released the 2016 predictions for tropical cyclone formations and landfalls. The predictions were for the period from May through October for three regions:
Here we review the 2015 seasonal predictions for tropical cyclone activity in the Western North Pacific and Atlantic Basins.
The Guy Carpenter Asia-Pacific Climate Impact Centre (GCACIC), a joint initiative of the City University of Hong Kong and Guy Carpenter, and the School of Energy and Environment, City University of Hong Kong, today released their 2015 predictions for tropical cyclone formations and landfalls.
A recent study shows it is possible to use a regional climate model to more accurately predict the number of tropical cyclone formations compared to predictions based solely on a global climate model.
Here we review recent GC Capital Ideas stories focused on climate change.
Guy Carpenter Asia-Pacific Climate Impact Centre Publishes New Annual Report: The Guy Carpenter Asia-Pacific Climate Impact Centre (GCACIC), a joint initiative of the City University of Hong Kong and Guy Carpenter, released its fifth annual report presenting the highlights of the GCACIC’s research activities from the past year. The report details the findings of 16 projects conducted by the GCACIC, which focus on climate problems in the Asia-Pacific region as well as on a global scale.
Third U.S. Climate Report Is Available: The White House released the Third U.S. National Climate Assessment report on May 6, 2014. The report was constructed with input of many U.S. scientists and coordinated by a cross section of U.S. interests including the energy sector.
Responding to Climate Change: It is vital for (re)insurers to consider how climate change could impact future losses. Global warming potentially poses a serious financial threat to the insurance industry with implications for catastrophe risk perception, pricing and modeling assumptions.
Climate Change: A Look into the Future: Global climate models project a best estimate of a further two to four degree (Celsius) increase in the mean temperature of the Earth by the end of this century. Although this may seem insignificant on an intuitive level, the resulting impacts are of significant concern. Sea-level rise is the most significant threat for coastal areas as a result of melting glaciers. Apart from this threat, changing weather patterns will result in drought and inland flood threats for some areas.
Global Warming: Adaptation Measures: The IPCC publications represent scientific consensus among many of the world’s top scientists (and scientific consensus is difficult to achieve). Their findings are generally consistent with the broader scientific literature.
Global Warming: Losses: Economic losses resulting from natural disasters increased from USD75.5 billion in the 1960s to USD659.9 billion in the 1990s (IPCC AR4, 2007 - Working Group II, Section 1.2.8.4). Insured losses have also increased, and “the dominant signal is of significant increase in the values of exposure” (IPCC AR4, 2007 - Working Group II, Section 1.3.8.4). Furthermore, the IPCC states that “failure to adjust for time-variant economic factors yields loss amounts that are not directly comparable and a pronounced upward trend for purely economic reasons.”
The Guy Carpenter Asia-Pacific Climate Impact Centre (GCACIC), a joint initiative of the City University of Hong Kong and Guy Carpenter, today released its fifth annual report presenting the highlights of the GCACIC’s research activities from the past year. The report details the findings of 16 projects conducted by the GCACIC, which focus on climate problems in the Asia-Pacific region as well as on a global scale.
Guy Carpenter & Company released today an analysis of the evolving risk landscape spurred by global warming. Climate change, global warming and the resulting landscape shift for risk management is a growing area of concern among governments, the general public, the private sector and the (re)insurance industry at large. According to the report, global warming is an established scientific fact that cannot be explained by natural variability alone.
The Guy Carpenter Asia-Pacific Climate Impact Centre (GCACIC), a joint initiative of Guy Carpenter and City University of Hong Kong, today released its fourth annual report presenting the findings of the GCACIC’s research activities from the past year. The report details the findings of 22 projects conducted by the GCACIC, which focus on climate problems in the Asia-Pacific region as well as on a global scale.
Guy Carpenter Asia-Pacific Climate Impact Centre (GCACIC), a joint initiative of Guy Carpenter & Company and City University of Hong Kong, issued its annual predictions for the 2012/2013 tropical cyclone season for the Australian region. The final forecast is for near-normal activity (12 tropical cyclones) for the region.
The Guy Carpenter Asia-Pacific Climate Impact Centre (GCACIC), a joint initiative of Guy Carpenter & Company and City University of Hong Kong, released its third annual report, which presents the findings of the 27 research projects conducted by GCACIC members on climate issues in the Asia-Pacific region in 2011.
