Tokio hosts climate change summit

On June 28, 2013, Tokio Millennium Re Ltd. (TMR) held its “Eighth Summit on Global Warming and Climate Change — Implications for the Insurance Industry” in Atlanta.

The summit, held annually, is meant to augment the process of research, analysis, and dialogue about global warming and climate change, its potential impacts as well as possible strategies to manage the risks associated with an uncertain and possibly continuously changing climate.

Tatsuhiko Hoshina, president and CEO of TMR, said in a press release: “TMR recognizes the potential adverse effects of climate change, which is why we have invested resources to research and investigate it and develop strategies and best practices to enhance risk management.”

The summit featured an array of distinguished speakers from the scientific, catastrophe modeling and insurance communities. Among the many topics presented at the summit, the speakers discussed the increasing costs and risks of extreme weather and climate events, including increases in the frequency and severity of severe weather events, the risk from storm surge exacerbated by climate change, and also the vulnerability of the New York and New Jersey metropolitan regions to hurricane destruction. The speakers also presented potential solutions to manage and mitigate the risks resulting from climate change.