The study is an attempt to explore, assess, and rate emerging risks in the insurance industry. Identification and professional assessment of the emerging risks is regarded as a breakthrough in risk management and this distinguishes corporate risk management from traditional risk management. Since the expansion limits of the emerging risks’ and their impacts are indefinite and obscure, their understanding is not simply possible. However, with their significant and quick impact in incurring substantial losses to the insurance industry, emerging risks can be considered perilous. In the same line, insurers must intermittently address their financial performance and market changes in order to assess their risk management strategies so that when exposed to fundamental changes in their underwriting operations or business strategies, they resiliently revise their risk management strategy according to such changes. Emerging perils or risks are exposures that do not exist at the moment, yet, they might emerge due to the changes occur in the environment. Emerging risks that are explored in this paper are as follows: cyber-attack, pandemic, proliferation of industrial facilities, climate change, and toxic nanoparticles.

If interested, please plan to watch the live broadcast of the paper presentation today at 01:00 p.m. (IRST) at http://seminar.irc.ac.ir. The participants will be granted certificate at the end of the presentation.