Page 3 - Research Networks
P. 3

Foreword

After a decade of relative calm, hurricanes       required. The Willis Research Network, with
revisited North America and the Caribbean         the Risk Modelling Steering Group of
with a vengeance over the last two storm          the Insurance Development Forum, is
seasons: Harvey, Irma, Maria in 2017, then        operating at the very heart of these
Florence and Michael wrought unprecedented        promising developments.
destruction in 2018, and as I write, a category
4 storm, Willa, bears down on the Pacific         This digest also covers examples from wider
coast of Mexico. Elsewhere droughts brought       areas of our research funding including
macro-economic impacts in Argentina and           earthquakes and tsunami, quantifying political
Australia; extreme floods affected southern       risks and developing tractable frameworks
India; wildfires ravaged world-wide, Europe       for understanding and evaluating systemic
was reminded of heat stress, and a summer         risks, scenarios and interdependencies.
of extreme events which ended with Super          We hope you enjoy the reading across this
Typhoon Jebi stretched even Japan’s high          wide spectrum as much as we have enjoyed
levels of resilience. The recent IPCC report      compiling it.
on risks of 1.5 C global mean temperature rise
has reiterated the impending and strategic        The Willis Research Network was founded
threats faced by many regions, economies          in 2006 and it is a pleasure to be part of
and communities, now, and in the coming           an initiative that has had a sustained impact
decades.                                          over many years. Its success and reputation
                                                  have been driven by long-term relationships
Our review of the 12th year of the Willis         and commitments based on a shared mission
Research Network includes some of our             and mutual respect across public, private and
extensive work with academic partners             academic sectors. It is a distinctive platform
on weather and climate risks that will lie at     to confront the even larger and more complex
the heart of understanding and managing           risk challenges we will need to address
these growing challenges. 2019 will see a         in the future.
renewed international emphasis on adaption
and resilience to physical climate risks -        On behalf of my Willis Towers Watson
complementing mitigation and low carbon           colleagues our thanks to all our academic
transition priorities - driven through processes  members and industry partners for their
such as the G20 FSB Task Force for Climate        collective contributions over the last year
Related Financial Disclosures and culminating     and my own thanks to the Willis Research
at a special UN Summit with Heads of              Network Steering Group and management
Government in September. The hard won             team for their focus and efforts during 2018.
lessons and capabilities of climate and risk      We look forward to another significant year
modelling from the re/insurance sector and        of research, collaboration and impact in 2019.
our evolving technical landscape will play a
key role in informing and delivering on the       Rowan Douglas CBE FRGS
policy and commercial responses that are          Chairman, Willis Research Network

                                                                                                                    Willis Research Network
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