National Association of Insurance Commissioners Announces Special Session on Casualty Catastrophe Risk

WASHINGTON, Aug. 6 (TNSEve) -- The National Association of Insurance Commissioners issued the following news release on Aug. 5, 2021:

The NAIC Center for Insurance Policy and Research (CIPR) will host a two-hour special session during the NAIC 2021 Summer National Meeting. The special session titled "Casualty Catastrophe Risk in the Time of Social Inflation: Landscape, Modeling and Action" takes place Tuesday, August 17, 2021, from 8:30 a.m. - 10:30 a.m. Eastern Time.

The Bank of England's Prudential Regulation Authority recently found that insurance firms under their purview had less mature exposure management frameworks for casualty lines compared to property, urging firms to address this casualty risk assessment gap.

The special session will provide an overview of the casualty emerging risk landscape, followed by insights from leading vendors on how to address this risk landscape utilizing catastrophe models. The event will conclude with a panel discussion amongst modelers, industry, and NAIC regulators on taking action regarding casualty emerging risk from a U.S. regulatory perspective.

CIPR anticipates strong participation for this session given this exploration.

All NAIC Summer National Meeting (https://www.naic.org/meetings_events.htm) attendees are welcome to attend.