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Professor Shaun S. Wang and Andreas Bollmann win prestigious Harold D. Skipper Award 2023

Shaun Shuxun Wang, Professor and Chair, Finance Department Southern University of Science and Technology, Shenzhen and Chairman of Risk Lighthouse and Andreas Bollmann, Partner at Faber Consulting have received the "Harold D. Skipper Award for the Best Paper" for their study titled "A Strategy for Rolling Out Climate De-Risk Insurance through Regional Collaboration". The prize was awarded at the 27th APRIA 2023 Annual Conference, held this summer in Osaka, Japan. The conference focused on “Resilience and Sustainability in the Risk Society: A Role of Risk Management and Insurance Based on Globalization and Financial Technology”.

The paper illustrates how the insurance industry can contribute to climate adaptation by leveraging its underwriting expertise and allocating assets to investments in sustainable risk mitigation projects and climate adaptation technologies. In focusing on the pressing issue of low insurance penetration and the impact of climate change on the Asian countries the two authors propose an innovative approach, advocating regional collaboration to build resilience through a Climate De-risk Insurance (CDRI) product.

This forward-thinking insurance pool dedicates a portion of the premium for risk assessment and mitigation. It involves commercial insurance companies, risk management agencies and selected third-party providers. The paper also emphasizes the importance of enabling regulation to ensure effective use of funds for risk mitigation and claims. Additionally, they suggest the establishment of CDRI development funds through public-private partnerships to promote widespread adoption of CDRI products and attract financial support.

The report will be published later this year in the Asia-Pacific Journal of Risk & Insurance (APJRI).

For more information on this project please contact:

Andreas Bollmann, Partner, Faber Consulting
+41 44 256 1085