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  • time : 12:4:24
  • Date : Sat Feb 20, 2021
  • news code : 4651
27th NCOID Broadcast Continues:
Paper Presentation on "Long-term Exposure of the Global Insurance Industry to Climate Change Risks: Using ARDL Model”
Feb. 20, 2021. As part of 27th National Conference on Insurance and Development, a dedicated virtual forum for paper presentation will be held today on 01:00 p.m. (IRST) by Dr. Said Asadi Qaragoz, Karafarin Insurance Co. Management, East of Tehran Branch. The paper is coauthored with Alireza Hojati, Member of the Board and CEO Deputy in Branches and Agencies Affairs, Karafarin Insurance Co. and Selda Nowah, Technical Officer, Tejarat Gostaran Asan Pishro Food Industry Company, according to PRIAO, IRC.

Climate change is a phenomenon that threatens the sustainable development from various angles including biological environment, human health, food safety, economic activities, natural resources, and infrastructural structures. Exploring the time series of the climate-related losses indicate that with the economic growth and technological development, the severity of such losses will increase as well. In the wake of such transformations, the insurance industry as the savior of the policyholders is affected by its losses. Based on the significance of this issue, the present study attempted to initially explore the global situation in relation to the climate losses, later it investigated the long-term relationship among the effective factors in the climate-related insurance losses during 1970-2019, employing Autoregressive Distributed Lag method (ARDL). The results showed that the consumption of renewable energies in the world, the forest area, population density, urbanization rate, commercial openness, GDP, pollutants’ emissions, and fresh water consumption had respectively the highest impact on the insured climate-related losses.

If interested, please plan to watch the live broadcast of the paper presentation today at 01:00 p.m. (IRST) through http://seminar27.irc.ac.ir . The participants will be granted digital certificate at the end of the presentation.

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