Critical Infrastructure Risk Management in The Evolving Threat Environment

Climate change is significantly impacting the insurance industry, leading to higher claims and increased premiums due to the rise in extreme weather events like hurricanes, wildfires and floods. In high-risk areas, insurers are sometimes restricting coverage or withdrawing altogether as they struggle to manage mounting losses. The industry now relies heavily on advanced data and technology to assess and model climate-related risks, helping insurers set premiums and manage claims more accurately. In response to escalating climate risks, some insurers are creating climate-focused products, like parametric insurance, and investing in resilience and sustainable initiatives to mitigate future losses. There’s also increased regulatory pressure for insurers to disclose climate-related risks, encouraging transparency and adaptation. Overall, climate change is pushing the insurance industry to innovate, adapt policies and focus on long-term resilience.

Attendee Takeaways:

1. Understand and anticipate climate-related risks
2. Learn about leveraging data, predictive analytics and modeling
3. Learn the ability to use actuarial results to determine appropriate funding levels and claims trends
4. Gain knowledge of current industry trends in various lines of business

Chad is the protective security advisor (PSA) of the North Texas District within the Cybersecurity and Infrastructure Security Agency (CISA), Region 6. The PSAs serve as a liaison between the Department of Homeland Security (DHS) and other federal agencies, state, local governments, and the private sector on security matters related to the protection of the nation’s critical infrastructure and assets. They contribute to the development of the national risk picture by assisting with the identification, assessment, monitoring and minimizing of risk to critical assets at the state and local level.