Objective Recent documents from the Intergovernmental Panel on Climate Change and the UK Stern Review, have argued cogently that governments, industry and agencies should urgently address the scientific, economic and social implications of climate. The insurance industry must start adapting in response to weather and climate risks. Climate and weather forecasting hosts a wide range of scientific and mathematical methods with a heavy computational base. Insurance mathematics is a rich field, developing advanced stochastic and statistical methods within risk theory. The main objective is to bring statisticians, insurance and climate experts together to build a methodological basis for the emerging field of climate change insurance risk. Statistics is a critical part of the project. We will access insurance data from partners and agencies as well as the huge amount of actual and simulated weather and climate data. This gives us the potential to build models and methods of real relevance to decision making in the insurance industry and help inform government and regulators. Work packages include: (i) early warning of losses, (ii) interpretation of climate modelling for risk analysis, (iii) rain and wind losses, (iv) sea temperature risk (v) concurrent causes for increased loss. A range of mathematical and statistical methods will form the bedrock for the project. They include methods from probabilistic risk theory such as extreme events, methods from climate simulation, especially ensemble simulations, statistical methods such as time series and space-time models and methods from structural and system reliability. The project will attach special importance to training and dissemination. Training is critical in a multidisciplinary project as this. Dissemination is a duty imposed by the urgency of the subject and the newness of the climate change insurance risk field. Partners are in Oslo and London: Norwegian Computing Centre, London School of Economics, Lloyd’s, Gjensidige. Fields of science social scienceseconomics and businesseconomicsnatural sciencesmathematicsnatural sciencesearth and related environmental sciencesatmospheric sciencesclimatologyclimatic changes Programme(s) FP7-PEOPLE - Specific programme "People" implementing the Seventh Framework Programme of the European Community for research, technological development and demonstration activities (2007 to 2013) Topic(s) PEOPLE-2007-3-1-IAPP - Marie Curie Action: "Industry-Academia Partnerships and Pathways" Call for proposal FP7-PEOPLE-2007-3-1-IAPP See other projects for this call Funding Scheme MC-IAPP - Industry-Academia Partnerships and Pathways (IAPP) Coordinator NORSK REGNESENTRAL EU contribution € 299 901,00 Address GAUSTADALLEEN 23 A 0314 Oslo Norway See on map Region Norge Oslo og Viken Oslo Activity type Research Organisations Administrative Contact Lars Holden (Dr.) Links Contact the organisation Opens in new window Website Opens in new window Total cost No data Participants (3) Sort alphabetically Sort by EU Contribution Expand all Collapse all LONDON SCHOOL OF ECONOMICS AND POLITICAL SCIENCE United Kingdom EU contribution € 294 882,00 Address Houghton Street 1 WC2A 2AE London See on map Region London Inner London — West Westminster Activity type Higher or Secondary Education Establishments Administrative Contact Bhimla Dheermojee (Ms.) Links Contact the organisation Opens in new window Website Opens in new window Total cost No data Corporation of Lloyd's United Kingdom EU contribution € 107 387,00 Address One Lime Street EC3M7HA London See on map Activity type Private for-profit entities (excluding Higher or Secondary Education Establishments) Administrative Contact Trevor Maynard (Mr.) Links Contact the organisation Opens in new window Website Opens in new window Total cost No data Gjensidige Forsikring Norway EU contribution € 225 805,00 Address Drammensveien 288 1326 Oslo See on map Activity type Private for-profit entities (excluding Higher or Secondary Education Establishments) Administrative Contact Elisabeth Nyeggen (Mrs.) Links Contact the organisation Opens in new window Total cost No data
