Exposure to catastrophic losses is one of the greatest risks facing property and casualty insurers and
reinsurers today. Science has progressed significantly in recent years allowing us to better predict and estimate
losses from natural catastrophes. We now understand more about the causes of events such as earthquakes
and hurricanes and how they actually damage insured property. This has led to effective mitigation efforts
and new classifications for pricing insurance. This knowledge has also been incorporated into loss models
allowing for greater accuracy in projecting the costs for these events.
Recent events such as September 11 and the collapse of mega-corporations like Enron, have led to
greater awareness on how man-made catastrophes affect the insurance industry capital and the primary
insurance and reinsurance markets. New models are being developed to estimate losses from terrorism and
regulators are taking a closer look at the adequacy of the capital supporting these man-made insured events.
This seminar will explore the man-made and natural catastrophe risks facing insurers, advancements in
the science that measures these risks, and the options to fund or finance these risks. Professionals from
academia and the scientific community, as well as insurers, reinsurers, modelers, regulators, and others will
provide their insight into catastrophe issues and will explore both private sector and government solutions to
this catastrophic funding/financing challenge.
— Target Audience —
The program is aimed at regulators, catastrophe modelers, and experienced actuaries who desire to
explore and discuss new developments in managing catastrophe risk. Chief financial officers, insurance
underwriters, and actuaries at all levels will also benefit from the information presented during this seminar.
Presented by the Casualty Actuarial Society
Co-sponsored by the Conference of Consulting Actuaries
