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US science academy and global reinsurance broker spark
Date:10/18/2011

f our institutions, markets, and society," said Rowan Douglas, CEO, Global Analytics, Willis Re, and chairman, Willis Research Network. "Resilience provides the foundation for confidence, investment, and sustainable growth. These common challenges unify public, private, and academic sectors with a unique opportunity for shared alignment and collaboration."

"We all rely upon science, analysis, and modeling to overcome these challenges and we are privileged to work with the U.S. National Academy of Sciences to bring leaders of science, government, reinsurance, and other sectors together, combining expertise and resources in a practical way," Douglas added. "Meanwhile, society relies upon the unifying concept of insurance, underpinned by science, to manage and share the cost of extreme events at local and global scales via public and private mechanisms; it is the ultimate community product."

Participants at the September summit identified and discussed six primary elements of managing extreme events:

  • Improving communication and education about extreme events
  • Building public-private-academic partnerships for managing extreme events
  • Sharing and providing access to information
  • Aligning exposure, risk, premium, and subsidy more closely in disaster insurance programs
  • Reforming institutions
  • Developing an economic model to evaluate resilience to extreme events

In response to the summit, some participants are expected to form work groups that will forward concepts for further investigation in order to develop activities that could increase resilience to extreme events.

Cicerone and Douglas led the summit of leaders, including the following speakers:

  • John P. Holdren, assistant to President Obama for Science and Technology, and director, White House Office of Science and Technology Policy
  • Jane Lubchenco, undersecretary for oceans and commerce, U.S. Department of Commerce,
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Contact: William Kearney
wkearney@nas.edu
202-334-2138
National Academy of Sciences
Source:Eurekalert

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