Global Climate Leaders Aim to Create Climate Risk Solutions at Bermuda Climate Summit

HAMILTON, Bermuda--(BUSINESS WIRE)--
With the effects of climate change ever more apparent, the stage is set for global experts to devise climate risk solutions at the second annual Bermuda Climate Summit, presented by the Bermuda Business Development Agency (BDA), in partnership with KBRA.

On June 26, Bermuda’s Deputy Premier, The Hon. Walter Roban, JP, MP, will kick off proceedings at Hamilton Princess & Beach Club with a conversation with Jim Nadler, President & CEO, KBRA, followed by a keynote luncheon between Suzanne Johnson, Senior Advisor, United Nations (UN) Global Compact Ocean Stewardship Coalition and George Thomas, independent director, BDA. Joshua Rosenberg, Chief Risk Officer, Federal Reserve Bank of New York, alongside past BDA-Chair, Stephen Weinstein, will bring the event to a close on June 27.

Slav Gatchev, Managing Director for Sustainable Debt at The Nature Conservancy, one of the world’s largest and most influential environmental organisations, said, “The insurance industry can tip the scales in the fight for biodiversity and climate outcomes and the upcoming Bermuda Climate Summit can show how parametric and credit insurance plus new innovations can unlock investment in nature-based solutions for climate mitigation and adaptation.”

Mr. Gatchev will moderate a ‘Biodiversity: Our Strongest Natural Defence Against Climate Change’ panel featuring: Osho Jha, Co-Founder and CEO, dClimate and Co-Founder, Arbol, James Kench, Head of Insurance, KITA, Natalia Moudrak, Climate Resiliency Leader, AON, and Dr. Robbie Smith, Curator of Natural History Museum, Bermuda Aquarium Museum and Zoo (BAMZ).

John Huff, President & CEO, Association of Bermuda Insurers and Reinsurers (ABIR) will moderate a panel entitled, ‘What’s Ahead in the United States?’ featuring panellists, Ricardo Lara, Insurance Commissioner, California Department of Insurance, and Lori Wing-Heier, Director, Alaska Division of Insurance, Co-Chairs of the NAIC Climate and Resiliency (EX) Task Force.

Mr. Huff said, “We are so pleased to be able to continually attract internationally-influential insurance supervisors to share their views on the path toward net-zero and the significant role the Bermuda market’s capital and capacity will have in the transition to get us there. Since 1997, Bermuda’s commercial (re)insurers have paid out over a half a trillion dollars to policyholders and cedants in the US, EU, and UK, predominantly for natural catastrophe, specialty and financial risk recovery. With this considerable experience and talent located on island, Bermuda is the perfect place for these leaders to discuss the importance of innovative climate risk solutions.”

‘The US Federal Flood Programme and the (Re)Insurance Sector’ will be moderated by Peter Giacone, Global Head of Insurance, KBRA and include panelists, Chris Brown – Partner, Mindset, Chlora Lindley-Myers, NAIC President and Director of the Missouri Department of Commerce and Insurance, and Andy Neal, Managing Director, Public Private Partnerships, Aon.

‘Climate and the Evolving Regulatory and Reporting Landscape’ will be moderated by Suzanne Williams-Charles, Director of Policy and Regulation, Corporate Secretary and Data Privacy Officer, ABIR, and feature panellists Ralf Kuerzdoerfer, Deputy Director, Supervision (Insurance), Bermuda Monetary Authority, Sohini Chowdhury, Senior Director, Moody’s Analytics, Ricardo Lara, Insurance Commissioner, California Department of Insurance and Arnaud van Dijk, Partner, ESG, KPMG.

David Hart, BDA CEO said, “Whether it be in the form of erratic rainfall and flooding, wildfires, increased hurricane activity and severity, or rising sea-levels, climate risk is something that impacts us all. After months of planning, we are so excited about the line-up of expert speakers that will come together here at our Bermuda Climate Summit. In addition to highlighting Bermuda as a thought leader in this space, we look forward to attracting potential overseas investors to share why Bermuda is the perfect place to develop climate risk finance solutions, attract and deploy capital investments and create jobs of the future.”

Click here to register. The full agenda can be viewed on the BDA website.

The BDA is grateful for the continued support of our headline sponsor KBRA, as well as: diamond sponsor Conduit Re; platinum sponsor Aon; gold sponsors Deloitte, Fidelis, and Hub Culture; and silver sponsors Aeolus, Aspen, AXA XL, Belco, Convex, and KPMG. Our supporting sponsors are Butterfield, HSBC and Ocean-Based Climate Solutions, Inc. Our media partners are Bermuda:Re+ILS, Climate and Capital Media, Insurance Insider, and The Insurer. Our spirits partner is Goslings. Other sponsorship opportunities are still available; please e-mail bermudaclimate@bda.bm if you wish to participate.

CONNECTING BUSINESS

The BDA encourages direct investment and helps companies start up, re-locate, or expand their operations in our premier jurisdiction. An independent, public-private partnership, we connect you to industry professionals, regulatory officials, and key contacts in the Bermuda government to assist domicile decisions. Our goal? To make doing business in Bermuda smooth and beneficial.

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Stuart Roberts, Director of Marketing Communications

stuart@bda.bm | +1 441 707 0038

Source: Bermuda Business Development Agency