Climate change is one of the biggest challenges facing the world. Scientific research points out that it is predominately driven by human activity. There are three different types of risks that arise from this change. These have been broadly grouped into physical, transition and liability risks. These risks can impact general insurers to different degrees, depending on their business areas and investment strategies. These may pose different strategic, investment, market, operational and reputational risks. This paper provides General Insurance Practitioners with an overview of different aspects of insurance operations that may be affected by climate change. It highlights the impact of these risks on pricing and underwriting, reserving, reinsurance, catastrophe modelling, investment, risk management and capital management processes.

The lecturer discusses the subject of professional integrity, and considers the themes of: the particular space within which the professional operates; the independence and integrity of the professional, including regulation and competition; and how integrity is measured. The two professions on which he concentrates are the actuarial profession and the legal profession, particularly barristers.