On the definition of an actuarial climate index for the Iberian Peninsula

Climate change is usually defined as a long-term shift in climate patterns affecting the planet globally. The main consequences of climate change are a rise in the average temperatures in many regions, and an increase in the frequency and intensity of extreme weather events, such as floods, droughts...

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Detalles Bibliográficos
Autores: Nan, Zhou, Vilar Zanón, José Luis, Garrido, José, Heras Martínez, Antonio José
Tipo de recurso: informe técnico
Fecha de publicación:2023
País:España
Institución:Universidad Complutense de Madrid (UCM)
Repositorio:Docta Complutense
Idioma:inglés
OAI Identifier:oai:docta.ucm.es:20.500.14352/87286
Acceso en línea:https://hdl.handle.net/20.500.14352/87286
Access Level:acceso abierto
Palabra clave:G22
Climate change risk
Iberian Peninsula
Actuaries Climate Index
Iberian Actuarial Climate Index
Physical climate risk
Geographical grid
Spain
Portugal
Seguros
5304.05 Seguros
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spelling On the definition of an actuarial climate index for the Iberian PeninsulaNan, ZhouVilar Zanón, José LuisGarrido, JoséHeras Martínez, Antonio JoséG22Climate change riskIberian PeninsulaActuaries Climate IndexIberian Actuarial Climate IndexPhysical climate riskGeographical gridSpainPortugalSeguros5304.05 SegurosClimate change is usually defined as a long-term shift in climate patterns affecting the planet globally. The main consequences of climate change are a rise in the average temperatures in many regions, and an increase in the frequency and intensity of extreme weather events, such as floods, droughts, storms, or hurricanes. Climate change is also associated with a rise in sea levels, more frequent severe wildfires, a loss of biodiversity, and many other disrupting events with serious economic impacts. This new set of risks is increasingly affecting both the frequency and severity of claims in different insurance branches. In order to help insurance companies to predict and manage these new risks, actuaries have defined the Actuaries Climate Index (ACI), which combines information from several important weather variables from the historical record of the United States and Canada. The ACI shows a significant increasing trend over the years. It is important to note, however, that the impact of climate change is not the same in all parts of the planet: different regions and countries are affected in different ways. Therefore, it is important to check if the ACI is as useful to assess climate risk outside the United States and Canada. In this paper, we follow the ACI methodology to build an actuarial climate index for the Iberian Peninsula, which we call Iberian Actuarial Climate Index (IACI). The paper reviews the methodology and the data used to obtain the IACI and studies the impact of climate change in the Iberian Peninsula.Universidad Complutense de Madrid20232023-01-0120232023-01-01technical reporthttp://purl.org/coar/resource_type/c_18ghAMhttp://purl.org/coar/version/c_ab4af688f83e57aainfo:eu-repo/semantics/reportapplication/pdfhttps://hdl.handle.net/20.500.14352/87286reponame:Docta Complutenseinstname:Universidad Complutense de Madrid (UCM)InglésengMICIU Not available PID2020-115700RB-I00NSERC Not available RGPIN-2017-06643MICIU Not available PID2021-125133NB-I00open accesshttp://purl.org/coar/access_right/c_abf2Attribution-NonCommercial-NoDerivatives 4.0 Internationalhttp://creativecommons.org/licenses/by-nc-nd/4.0/info:eu-repo/semantics/openAccessoai:docta.ucm.es:20.500.14352/872862026-06-02T12:44:21Z
dc.title.none.fl_str_mv On the definition of an actuarial climate index for the Iberian Peninsula
title On the definition of an actuarial climate index for the Iberian Peninsula
spellingShingle On the definition of an actuarial climate index for the Iberian Peninsula
Nan, Zhou
G22
Climate change risk
Iberian Peninsula
Actuaries Climate Index
Iberian Actuarial Climate Index
Physical climate risk
Geographical grid
Spain
Portugal
Seguros
5304.05 Seguros
title_short On the definition of an actuarial climate index for the Iberian Peninsula
title_full On the definition of an actuarial climate index for the Iberian Peninsula
title_fullStr On the definition of an actuarial climate index for the Iberian Peninsula
title_full_unstemmed On the definition of an actuarial climate index for the Iberian Peninsula
title_sort On the definition of an actuarial climate index for the Iberian Peninsula
dc.creator.none.fl_str_mv Nan, Zhou
Vilar Zanón, José Luis
Garrido, José
Heras Martínez, Antonio José
author Nan, Zhou
author_facet Nan, Zhou
Vilar Zanón, José Luis
Garrido, José
Heras Martínez, Antonio José
author_role author
author2 Vilar Zanón, José Luis
Garrido, José
Heras Martínez, Antonio José
author2_role author
author
author
dc.contributor.none.fl_str_mv Universidad Complutense de Madrid
dc.subject.none.fl_str_mv G22
Climate change risk
Iberian Peninsula
Actuaries Climate Index
Iberian Actuarial Climate Index
Physical climate risk
Geographical grid
Spain
Portugal
Seguros
5304.05 Seguros
topic G22
Climate change risk
Iberian Peninsula
Actuaries Climate Index
Iberian Actuarial Climate Index
Physical climate risk
Geographical grid
Spain
Portugal
Seguros
5304.05 Seguros
description Climate change is usually defined as a long-term shift in climate patterns affecting the planet globally. The main consequences of climate change are a rise in the average temperatures in many regions, and an increase in the frequency and intensity of extreme weather events, such as floods, droughts, storms, or hurricanes. Climate change is also associated with a rise in sea levels, more frequent severe wildfires, a loss of biodiversity, and many other disrupting events with serious economic impacts. This new set of risks is increasingly affecting both the frequency and severity of claims in different insurance branches. In order to help insurance companies to predict and manage these new risks, actuaries have defined the Actuaries Climate Index (ACI), which combines information from several important weather variables from the historical record of the United States and Canada. The ACI shows a significant increasing trend over the years. It is important to note, however, that the impact of climate change is not the same in all parts of the planet: different regions and countries are affected in different ways. Therefore, it is important to check if the ACI is as useful to assess climate risk outside the United States and Canada. In this paper, we follow the ACI methodology to build an actuarial climate index for the Iberian Peninsula, which we call Iberian Actuarial Climate Index (IACI). The paper reviews the methodology and the data used to obtain the IACI and studies the impact of climate change in the Iberian Peninsula.
publishDate 2023
dc.date.none.fl_str_mv 2023
2023-01-01
2023
2023-01-01
dc.type.none.fl_str_mv technical report
http://purl.org/coar/resource_type/c_18gh
AM
http://purl.org/coar/version/c_ab4af688f83e57aa
dc.type.openaire.fl_str_mv info:eu-repo/semantics/report
format report
dc.identifier.none.fl_str_mv https://hdl.handle.net/20.500.14352/87286
url https://hdl.handle.net/20.500.14352/87286
dc.language.none.fl_str_mv Inglés
eng
language_invalid_str_mv Inglés
language eng
dc.relation.none.fl_str_mv MICIU Not available PID2020-115700RB-I00
NSERC Not available RGPIN-2017-06643
MICIU Not available PID2021-125133NB-I00
dc.rights.none.fl_str_mv open access
http://purl.org/coar/access_right/c_abf2
Attribution-NonCommercial-NoDerivatives 4.0 International
http://creativecommons.org/licenses/by-nc-nd/4.0/
dc.rights.openaire.fl_str_mv info:eu-repo/semantics/openAccess
rights_invalid_str_mv open access
http://purl.org/coar/access_right/c_abf2
Attribution-NonCommercial-NoDerivatives 4.0 International
http://creativecommons.org/licenses/by-nc-nd/4.0/
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.source.none.fl_str_mv reponame:Docta Complutense
instname:Universidad Complutense de Madrid (UCM)
instname_str Universidad Complutense de Madrid (UCM)
reponame_str Docta Complutense
collection Docta Complutense
repository.name.fl_str_mv
repository.mail.fl_str_mv
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score 15,811543

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