Hello!
Happy Polar Vortex everyone! I hope you’re safe, healthy, and -most of all- warm.
I also hope many of you had a productive and fun 101st AMS Annual Meeting last month. Many of the virtual sessions are still available and I know many of us are probably still watching … longest meeting ever!!
What did you see at the meeting that you’d like to share? Use the button below and let us know!
Let’s Talk Goals…
Our regular monthly meeting is coming up next week and it’s time to lay out our goals for the year ahead. Let’s devote the bulk of our agenda on Wednesday, February 17th at 3pm ET to discuss the topics that you would like to volunteer to contribute to as well as initiatives that you would like to lead between now and the 102nd AMS Annual Meeting in January 2022 (hopefully we’ll see each other in Houston).
As a reminder, here’s a report on our 2020 goals. Of course, we may choose to carry these over into 2021.
We started brainstorming for 2021 back in December. Here are the notes from that discussion.
Our Manifesto
Why FinWx?
The AMS Financial Weather and Climate Risk Management Committee strives to form a crossroads where those from the AMS Community connect with professionals from the broader economy.
We seek to create opportunities that develop professionals to leverage their domain expertise to increase enterprise value in all sectors capable of improving financial performance by managing weather and climate risk.
Our Mission
We engage end-users in all sectors so they (1) better understand and analyze weather and climate risk, (2) network with other weather and climate market participants, and (3) ultimately improve financial performance by managing weather and climate risk.
We encourage transparency and improved understanding of this market, thereby enabling decision makers to minimize the impact of weather and climate events on their operations and financial earnings.
We develop relationships across various industries, discuss standardized approaches for risk assessment, and support further growth of the weather and climate risk marketplace.
We Serve the AMS Community by…
Offering educational initiatives on weather & climate risk management;
Facilitating discussions on best practices for weather/climate risk assessment; and
Acting as a resource for end users and established weather/climate risk market participants.
Steve’s Philosophy
Our Committee volunteers (that’s you!) drive our agenda, our areas for focus, and all of our activities.
Our Committee’s structure is adaptable with “sub-teams” to pursue our Committee Goals.
The Committee Chair (that’s Steve!) supports and facilitates Committee activities and keeps cohesion with the broader AMS Community.
While we have a core group of official AMS members as defined by our Terms of Reference, I welcome observing members from inside and outside of the AMS. Anyone who is interested in the mission is welcome to participate in meetings and volunteer for committee initiatives.
Looking Upstream
The FinWxRiskComm (or FinWx for short) is part of the AMS Board on Enterprise and Economic Development (BEED) which sits within the Commission on the Weather, Water, and Climate Enterprise (CWWCE or “Quickie”).
The Commission’s mission is to address the needs and concerns of all sectors of the Enterprise and create a sense of community by:
Providing appropriate opportunities for frank, balanced discussions on points of contention or concern
Educating policy makers on the value and operations of the Enterprise
Developing and implementing programs to enhance information exchange
A core value of the Commission is to encourage early career, diverse and student participation.
I’m looking forward to seeing many of you next week!
Not sure if this is the best way to share this message - But here it is. If I could have 5 minutes of meeting time tomorrow to share some news about the Reinsurance Association of America RAA Cat Risk Management 2021 seminar. Due to COVID-19 restrictions and safety concerns for all attendees, the seminar will take place virtually on March 22-24. I am on the planning committee and because it is virtual I pushed hard to get an student rate of $50 dollars. Otherwise this is an very expensive seminar to attend in person which is unfortunate. I would like this committee help in spreading the word to other students if possible. This is a great opportunity to dive it to the weeds on the issues that insurance and reinsurance industry are facing. There is even a few basic tracks for students to learn more about Cat Risk Management. More info can be found here: https://www.reinsurance.org/CatModeling/