Climate science for Insurance, Reinsurance, and Finance
The Center for Climate Risk Applications is a Planning Stage Industry-University Cooperative Research Center (IUCRC). We address the challenges that climate change inflicts on the insurance, reinsurance and finance industries with precompetitive research to solve immediate needs. Our academic-industry collaboration is supported by the US National Science Foundation (NSF) and the US National Oceanic and Atmospheric Administration (NOAA) under NSF's IUCRC program.
CCRA conducts research to develop practical solutions for insurance, reinsurance and financial industries to fundamental challenges from climate change that span climate science, engineering, policy, and social science.
Our vision is to lead the next generation of climate and infrastructure models and tools that address the challenges experienced by industry due to the impact of climate change on their ability to predict and manage risk. We will enable utility of yearly to decadal climate predictions for addressing industry time and spatial scales, modeling catastrophic impacts and associated vulnerability from natural perils that are not adequately predicted. We quantify how local climate change modifies the frequency, intensity, and impact of weather-related hazards on people and property, predict impact due to compound and cascading perils, and develop recommendations for incentives and scientifically sound policy advice to mitigate and adapt to climate change impacts and support healthy markets.
We want to hear from you! Please contact us at ccra@gmu.edu