Exponent - Environment
<p>In the insurance industry, climate change has affected and will continue to affect insurance for property, casualty, liability, health, and life. Areas of particular importance for insurance risk management and loss prevention include:</p>
<ul>
<li>Projected climate change impacts upon insured</li>
<li>Impacts of insured’s emissions upon the biological, ecological, and physical environment</li>
<li>Extreme weather events such as drought, flooding, and hurricanes</li>
<li>Infectious disease, heat stress, waterborne diseases, and injuries from extreme weather events</li>
<li>Integrating climate change in traditional catastrophe modeling</li>
<li>Liabilities of products associated with greenhouse gas emissions</li>
<li>Liabilities associated with corporate climate change management</li>
<li>Litigation associated with business continuity such as interruptions in the supply chain, utility services, and communications</li>
<li>Litigation and liabilities associated with contract disputes from transactions and acquisitions</li>
</ul>
<p>Climate change also presents business opportunities for new products and services for mitigating and offsetting greenhouse gases, and encouraging sustainable policyholder practices that lower risk profiles and vulnerability. Exponent provides insurance clients with sophisticated analyses that combine the results and reliability of regionally-relevant climate models with available trend analyses. This analysis provides a range of predictions and associated probabilities along with the consequences. This information provides the technical bases for judging risks to assets and operations. It can also be used for estimating insurance needs and for developing appropriate management strategies meaningful to specific client needs and degree of vulnerability.
Exponent climate change services include:
</p>
<ul>
<li>Analysis of climate change models and uncertainty analysis within a regional context and in a format that can then be applied to management decision-making</li>
<li>Application of a transparent and comprehensive vulnerability framework to provide risk analysis and risk management recommendations that are specific to the challenges facing a specific insurance company, insurance product, or the industry as a whole</li>
<li>Economic exposure analysis from climate change risks</li>
<li>Land-use planning and management analysis of natural resources such as forestry, agriculture, and wetlands to mitigate climate change effects</li>
<li>Identification and analysis of sustainable business practices to decrease exposure to climate change risk</li>
<li>Product liability analysis of green technologies</li>
<li>Analysis of the liabilities that might arise from carbon-offset projects</li>
<li>Creation of vulnerability maps for various outcomes and associated probabilities</li>
</ul>
<p> </p>