XL Catlin to work with Stimson Center in managing risks for coastal communities

Collaboration to help predict hazards and formulate action plans for at-risk regions around the world

XL Catlin to work with Stimson Center in managing risks for coastal communities

Insurance News

By Gabriel Olano

XL Catlin has announced that it will cooperate with the Stimson Center, an international research organisation, in creating a predictive mapping model to identify coastal regions most vulnerable to climate change.

The model will help in predicting hazards and identifying resilience measures that must be implemented in regions that are most at risk.

The project was presented to the public during the Ocean Risk Summit which took place in Bermuda from May 08 to May 10. XL Catlin was a co-presenter of the summit, which focused on how governments and businesses can respond to the risks presented by existing and projected changes in the world’s oceans, which until recently, have been poorly understood.

“Coastal cities are already under incredible social stress in developing nations, while climate change and ocean related risk is further exacerbating the economic and food security for people living in these dense urban centres,” said Sally Yozell, director of the Stimson Center’s environmental security program. “The combination of migrants seeking better livelihoods in cities also under assault from flooding and loss of basic services due to sea level rise and coastal storms is pushing many local governments to the brink. Many urban areas that lack strong governance structures are just one catastrophic event away from disaster.”

The model takes into account social, environmental, and economic conditions in a region, allowing it to identify the nations most at risk of conflict and insecurity due to climate change.

Aside from the mapping model, the project will also create a checklist for businesses operating in climate change hotspots. It will seek to involve governments and businesses, providing them with necessary tools to identify solutions and take action to mitigate climate risks.

According to XL Catlin, the mapping model, business checklist, and other tools will be launched at the Our Oceans Conference 2019 in Norway.

“When public policy aligns with business interests we can better mitigate risk,” said Brendan Plessis, XL Catlin’s executive vice president for emerging markets. “This multi-sectoral approach is key to delivering real change in communities that need it most and we’re proud to be working with the Stimson Center to achieve these aims.”



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