Alex Pui and Sileem Horie shed light on the climatology of the polar vortex and the unique circumstances and vulnerability of locations most impacted, before offering suggestions on how societies can better economically prepare for similar storms in the future.
In the media and the general community, it has become common practice to classify natural disasters as a ‘one-in-X-year’ event. This phrase can be misleading if interpreted literally, possibly leading people to think that their risk actually reduced because they have 100 years to wait before the next ‘one-in-100-year’ event. This article aims to clear up the murky waters.
Alex Pui assesses the financial and societal impacts of flood events, and the role which the insurance industry can play in closing the 'protection gap'.
Although the world's attention is squarely focused on managing the devastating human and economic consequences of the ongoing COVID-19 pandemic, it serves as a stark reminder to avoid further delay on climate risk action.
Posted 28 May 2020
