JIF 2022 Climate Panel Focused On Wildfire Risk

Climate risk figured prominently throughout Triple-I’s Joint Industry Forum last week -- from the impact of severe weather events on insurers’ loss ratios to its significance in terms of changing risk profiles and to Florida homeowners’ insurance crisis.

In addition, an entire panel was dedicated to the topic of wildfire risk, featuring: Jim Boccher, Chief Development Officer, ServiceMaster; Craig B. Clements, Ph.D., Professor of Meteorology, San José State University, Triple-I Non-resident Scholar;
Jeffrey W. Huebner, EVP & Chief Risk Officer, CSAA Insurance Group; Niels Jorgensen, Ph.D., Data Scientist, Opterrix, Inc.; and Seth Rachlin, Ph.D., Executive Vice President and Global Insurance Leader, Capgemini.

Dr. Phil Klotzbach -- a research scientist in the Department of Atmospheric Science at Colorado State University and Triple-I non-resident scholar -- kicked off the panel by summarizing the 2022 Atlantic hurricane season, as well as addressing the interconnectedness of hurricane and wildfire risk.

The same La Niña conditions in the Pacific Ocean that drive Atlantic hurricanes also contribute to dryness across the U.S. Southwest, Klotzbach said.