I nsura nc e , Critic a l Da ta & Re silie nc e Attrib utio n - - PowerPoint PPT Presentation

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I nsura nc e , Critic a l Da ta & Re silie nc e Attrib utio n Sc ie nc e . F o re se e a b ility o f L o ss, Ada ptive De sig n & Co st Be ne fit Ana lysis L inde ne E Pa tto n, E sq . E a rth a nd Wa te r L a w, L L C AT

SLIDE 1

I nsura nc e , Critic a l Da ta & Re silie nc e

Attrib utio n Sc ie nc e . F

re se e a b ility o f L
ss,

Ada ptive De sig n & Co st Be ne fit Ana lysis

L inde ne E Pa tto n, E sq . E a rth a nd Wa te r L a w, L L C

SLIDE 2

AT T RI BUT I ON SCI E NCE

‘Probabilistic event attribution’ is the

science of seeking to determine the extent to which anthropogenic climate change has altered the probability or intensity of a particular weather event

r class of weather events, with an

assignment of statistical confidence.

SLIDE 3

Cha ng e s in a ttrib utio n sc ie nc e : De sig n impa c ts

 What’s Ne w ? Cha ng e s in a ttrib utio n sc ie nc e impro ve

sta tistic a l c e rta inty o f the re la tio nship b e twe e n c e rta in e xtre me we a the r e ve nts a nd o the r c lima te c ha ng e s a nd a nthro po g e nic a lly so urc e d a tmo sphe ric g re e nho use g a s c o nc e ntra tio ns;

 Suffic ie nc y o f ‘c e r

tainty’ fo r de c isio n taking diffe r s be twe e n sc ie nc e be st pr ac tic e and le gal applic atio ns

 Impac t: c ha ng e in sc ie ntific c e rta inty impa c ts the

ne g lig e nc e a na lysis in a c o urt o f la w; the c ha ng e ma y a lso impa c t o the r sta tuto ry lia b ility

 Pr

ac tic al Implic ations & Outc ome s:

 Ac tio ns re q uire d to sa tisfy o b lig a tio ns o f duty will c ha ng e .  Re tro spe c tive a na lyse s a nd a ssumptio ns tha t the pa st will

pre dic t the future ma y no lo ng e r me e t the sta nda rd o f c a re .

SLIDE 4

Attrib utio n sc ie nc e

 Why wo uld ‘ attrib utio n sc ie nc e ’ ma tte r to

a n insure r ?

 F

a c ility de sig n c rite ria a re a pplie d in the c o nte xt o f re q uire d pe rfo rma nc e a nd re lia b ility sta nda rds

 Pe rfo rma nc e a nd re lia b ility a re a ffe c te d b y

e nviro nme nta l c o nditio ns

 We a the r;  E

xtre me e ve nts; a nd

 Cha ng e s o ve r time  Clima te c ha ng e

 I

mpa c ts de sig n c rite ria !

 I

mpa c ts Pro fe ssio na l a nd Ope ra to r Dutie s

 I

mpa c ts Go ve rnme nt Dutie s

SLIDE 5

Clima te Cha ng e T e sts Re silie nc e Of Sove re ig n & Corpora te s' Cre ditworthine ss

SLIDE 6

Why Do I nsure rs Ca re ?

 L

ia b ility E xpo sure : histo ric a l a na lo g y – RCRA, CE RCL A, Asb e sto s, Pha rma c e utic a l, e tc .

 Co mmo n la w Ne g lig e nc e

 Duty  Bre a c h  Ca usa tio n

 Ca use in fa c t  Pro xima te c a use

 Da ma g e s

SLIDE 7

F

re se e a b ility

Study of the impac t of c limate c hange on c ivil e ngine e r ing standar ds:

 Se e wo rk o f Pro f. Co sta Sa ma ra s a t

https:/ / www.c mu.e du/ c e e / a da pta tio n/

 https:/ / www.c mu.e du/ c e e / pro spe c tive / g ra dua te -

de g re e / ma ste rs/ ms-c o nc e ntra tio ns/ c lima te -c ha ng e - a da pta tio n-fo r-infra struc ture .html

Ame r ic an Soc ie ty for Civil E ngine e r s (ASCE )

 Se e https:/ / www.a sc e .o rg / c lima te -c ha ng e / c o mmitte e -o n-

a da pta tio n-to -a -c ha ng ing -c lima te /

Ame r ic an Institute for Che mic al E ngine e r s (AIChE ) -

se e https:/ / www.a ic he .o rg / c he ne c te d / 2017/ 11/ pa ic -c lima te -ta sk- fo rc e -a ttrib utio n-o b se rve d -c lima te -c ha ng e

SLIDE 8

Co st / b e ne fit a na lysis

 I

nte g ra tio n o f a ttrib utio n sc ie nc e fo re c a sts;

 I

nc re a se d e xpe c te d physic a l fo rc e s o ve r the use ful life o f the struc ture ;

 Cha ng e s struc tura l re q uire me nts to me e t sa me

pe rfo rma nc e / re lia b ility c rite ria ;

 Ba la nc e unc e rta inty o f fo re c a sts with risks –  Ada ptive De sig n …

SLIDE 9

Ada pta tio n: ho w muc h?

 T

he ma g ic q ue stio n … ho w muc h a dditio na l re silie nc e is re q uire d to me e t pe rfo rma nc e a nd re lia b ility sta nda rds ?

 Co st b e ne fit a na lyse s must b e mo difie d to re fle c t

sc ie nc e , inc luding a ttrib utio n sc ie nc e

 Must se t o ute r b o unds o n sta tistic a l va ria b ility

to le ra nc e in e ng ine e ring c a lc ula tio ns b a sis

 Use ADAPAT

I VE DE SI GN to ‘ ma na g e ’ unc e rta inty in the future ******

 Ba sic de sig n a ppro a c h sta rts a t the sa me pla c e –

b ut c ha ng e s in sc ie nc e c a use c ha ng e s in de sig n… a na lytic pro c e ss is the sa me … b ut inputs a nd o utputs a re diffe re nt !

6/ 20/ 2018 RUC 2018 SUMMI T : OPE RAT IONAL I ZI NG RE SI L I E NCE 9

SLIDE 10

The Actuarial Climate Index – A Great Start … !

Reference Period 1961-1990

SLIDE 11

Attrib utio n Sc ie nc e & Ada ptive De sig n

Re al Data Re al De c isio ns Re al Re silie nc e ℠

6/ 20/ 2018 11