ISO announced the participation of Atmospheric and Environmental Research (AER), Willis, and Zurich Financial Services on the industry panel on "Leveraging Climate Risk to Improve Financial Performance" at its inaugural ISO Customer Conference in Orlando on Oct. 25.

The group, representing property/casualty insurance industry and environmental research thought leaders, will define a framework for helping manage weather and climate risk and explain the business opportunity in an increasingly volatile environment.

Discussing the latest climate risk management approaches, the forum will delve into five areas that insurers need to examine as they evaluate their own exposure when offering coverage for climate-related risks to their policyholders: how to incorporate climate science into the underwriting process, consequences and regulation of greenhouse gas emissions, operational risk management, litigation, and liability.

Panelists include industry leaders who helped develop proactive weather- and climate-based strategies for industries and governments in North America and Europe: Rick Hawkinberry, senior vice president, Willis Environmental Practice; Paul Walsh, senior vice president, business solutions, AER; and Lindene E. Patton, chief climate product officer, Zurich Financial Services. AER's managing director, Kyle Beatty, will moderate the panel.

"The demand for insurance coverage for climate-related risk continues to evolve and will most likely increase as some current uncertainties related to climate change litigation, legislation, and regulation are resolved," says Hawkinberry. "As more and more insurers assess the physical and liability risks, they will have the necessary information to calculate the financial exposures and offer coverages that meet the climate risk management needs of their corporate clients."

"Among the emerging risks the insurance industry faces, climate is unique," says Walsh. "We're observing symptoms of change every day. Leaders in the insurance industry are investing in applied research to draw actionable conclusions about the changes taking place in the frequency and severity of weather-related perils."

"Leveraging Climate Risk to Improve Financial Performance" will take place on October 25, at the inaugural ISO Customer Conference at Loews Portofino Bay Hotel at Universal Orlando in Florida. For more information about ISO Customer Conference 2010, visit www.iso.com/customerconference

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Insurance Leaders to Address Climate-Related Risks at ISO Conference

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