Symposium Climate-Related Catastrophic Events In Brazil: the Challenges and Opportunities for the Insurance Industry

The impact of natural disasters, caused by the lethal combination of extreme climate and non-climate factors, and the increased frequency of extreme rainfall, indicated on projections of future climate, results in climate change being a subject of great interest among the international scientific community, in addition to generating enormous interest in the media and within society. In Brazil, such extreme events have been tragic, and sadly frequent. Recent episodes occurred in the mountainous region of Rio de Janeiro (January 2011 and March 2013) and at the Morro do Bumba, in Niteroi (April of 2010), which caused considerable commotion among the population.

By means of its Working Group on Global Environmental Changes, ABC attempts to mobilize the main Brazilian researchers of the field, to discuss how science can contribute towards the expansion of its capacity regarding forecast, prevention, monitoring and mitigation of the impacts of the natural disasters caused by extreme climatic events.

Similarly, the Brazilian government, through its Ministry of Science, Technology and Innovation, has been attempting to develop actions, together with state and municipal governments, which contribute towards the strengthening of the national capacity of anticipating and preventing natural disasters, by means of real-time monitoring of the weather and environmental conditions that lead to disasters. For obvious reasons, this is also an issue that has attracted the interest of insurance markets in Brazil and throughout the world.

Concerned with this issue, Itaú, an Institutional Member of ABC, suggested to the Academy and to the National Confederation of General Insurance, Private Pension and Life, Supplementary Health and Capitalization Companies (CNseg) that they work together to organize a symposium about the issue. Thus, jointly organized by the Brazilian Academy of Science (ABC) and by the Geneva Association, with the support of CNseg, of Munich Re, of Swiss Re and of the Ministry of Science, Technology and Innovation, the symposium "Climate-related Catastrophic Events in Brazil: The Challenges and Opportunities for the Insurance Industry" seeks to mobilize different social actors to contribute to the increase of society’s capacity to respond with the necessary promptness, to the natural disasters of climatic origin, in order to preserve life and property.

With regards specifically to the insurance industry, the symposium aims to bring together key stakeholders from the market to enable an open discussion on the ways in which the government, the scientific community, insurers and businesses can work together to reduce damages and strengthen financial resilience to catastrophic claims. The symposium also represents the inaugural Latin America Liability Regimes Conference, of the Geneva Association.
The event will have the participation of the Civil Defense of Campinas, the first Brazilian city to be certified by the United Nations (UN) as a city that is a model of good practice in building resilience to reduce risks and natural disasters. Finally, more than being just a scientific symposium, the event aims at having a more specific dimension: to analyze the impacts of catastrophic climatic disasters and indicate areas that need strengthening with regards to the scientific capacity on how to deal with extreme weather and natural disasters, both in terms of prediction and prevention, as well as mitigation of its consequences.

Check out the program and the profile of the speakers of the event.



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