The Institute of Catastrophe Risk Management (ICRM) at the Nanyang Technological University (NTU), Singapore, is proud to announce the Fifth International Symposium on Catastrophe Risk Management 2014. The theme of this year Annual Symposium is “Financing of Natural Catastrophes in Asia - The Role of Private Sectors, Governments and Regulators in Natural Catastrophe Management”. The 2-day Symposium will be held from 24 to 25 April 2014 in Singapore.
The past four ICRM symposia addressed important issues related to catastrophe risks facing Asia in light of its impressive economic growth, its middle class growth, and improvements in the lives of people as evidenced by the exponential growth of the infrastructure and assets at risk. Major catastrophes over last 5 to 6 years have demonstrated the vulnerability of major urban centers in Asia, as well as elevated the concerns related to food security and the impacts of climate change on agriculture, farmers’ livelihoods, and food security in Asia. The main themes of the past four symposia were:
- The 2010 Inaugural Symposium introduced ICRM and its agenda for research and education.
- The 2011 Symposium was dedicated to food and water security and the impact of climate change on these risks.
- The 2012 Symposium was focused on “Black Swan” type of events, i.e. major catastrophes that were not on the radar screens of planners, policy makers, risk analysts or researchers.
- The 2013 Symposium emphasized the evolving risks due to extreme events in the Asia Pacific region and whether societies, governments, insurance/reinsurance and financial industries were prepared for such events.
The theme of the 2014 Symposium builds on the themes of the past four symposia. Catastrophe risk in Asia is a confluence of traditional and emerging risks affecting its populations, corporations, and whole societies. It exceeds the individual capacity for risk financing of the affected populations, businesses and societies. It demands holistic and coordinated management and efficient use of insurance and other risk financing instruments aimed to protect the populations, the assets at risks, and support the growth of Asian economies.
The main theme of the 2014 Symposium - “Financing of Natural Catastrophes in Asia - The Role of Private Sectors, Governments and Regulators in Natural Catastrophe Management” has been selected to support the important dialogue of the stake holders and help chart the actions leading to sustained reduction of the catastrophe risk in Asia. The 2014 Symposium is structured around the following sub-themes:
- The Current State of Play in Asia – Catastrophe Risks and Their Financing in Asia
- Current Regulatory Environment in Asia
- Public Sector Risk Financing - Regulatory Environment, Solutions and Role of the Private Sector
- Post-Disaster Impact Analysis
- Risk Financing and Transfer