Data Update to the Actuaries Climate Index
WASHINGTON and ARLINGTON, Va. and SCHAUMBURG, Ill. and OTTAWA, May 27, 2020 (GLOBE NEWSWIRE) — The Actuaries Climate Index has been updated with new quarterly data, revisions to initial data for previous periods, and annually updated values for the index’s drought and sea level components.
“The Actuaries Climate Index has been updated with data through fall 2019, providing the latest objective measures of how key climate and sea level components in Canada and the United States are deviating from historical norms,” says Doug Collins, Chair of the Climate Index Working Group. “This update reflects 2019 values for drought and sea level for the first time.”The Actuaries Climate Index is a measure of long-term changes across an array of observed weather extremes and sea level in Canada and the United States, expressed in units of difference (standard deviations) from the mean for a 30-year reference period from 1961 to 1990.This release also includes revised data for previous seasons that have slightly lowered the index values for recent periods; however, the Actuaries Climate Index’s five-year moving average continues its long upward trend, standing at 1.16 as of fall 2019.The Actuaries Climate Index is based on analysis of seasonal data from neutral, scientific sources for six index components collected since 1961. The index measures changes in extremes of high and low temperatures, high winds, heavy precipitation, and drought, as well as changes in sea level for the United States and Canada combined and by region. Combining six components over a five-year measurement period, the index’s moving average smooths out monthly and seasonal fluctuations for a meaningful measurement of long-term climate trends.
The index, sponsored by the American Academy of Actuaries, the Canadian Institute of Actuaries, the Casualty Actuarial Society, and the Society of Actuaries, is designed to provide actuaries, public policymakers, and the general public with objective data about changes in the frequency of extreme climate events over recent decades.
Updated values are posted quarterly on ActuariesClimateIndex.org as data for each meteorological season become available.About the Sponsoring Organizations
The American Academy of Actuaries is a 19,500-member professional association whose mission is to serve the public and the U.S. actuarial profession. For more than 50 years, the Academy has assisted public policymakers on all levels by providing leadership, objective expertise, and actuarial advice on risk and financial security issues. The Academy also sets qualification, practice, and professionalism standards for actuaries in the United States.
The Canadian Institute of Actuaries (CIA) is the national, bilingual organization and voice of the actuarial profession in Canada. Our more than 6,000 members are dedicated to providing actuarial services and advice of the highest quality. The Institute holds the duty of the profession to the public above the needs of the profession and its members.
The Casualty Actuarial Society (CAS) is a leading international organization for credentialing and professional education. Founded in 1914, the CAS is the world’s only actuarial organization focused exclusively on property and casualty risks and serves over 9,000 members worldwide. Professionals educated by the CAS empower business and government to make well-informed strategic, financial and operational decisions.
With roots dating back to 1889, the Society of Actuaries (SOA) is the world’s largest actuarial professional organization with more than 30,000 actuaries as members. Through research and education, the SOA’s mission is to advance actuarial knowledge and to enhance the ability of actuaries to provide expert advice and relevant solutions for financial, business and societal challenges. The SOA’s vision is for actuaries to be the leading professionals in the measurement and management of risk.For more information or to set up an interview, please contact:
Manager, Communications, Canadian Institute of Actuaries
613-236-8196 ext. 106A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/843891c3-472f-4f61-808c-968f61971e54