Space Weather Effects on Insurance Risk Management

Kyle Beatty
April 18, 2012

With society's increasing reliance on the electrical grid, space weather events such as severe solar storms can wreak havoc on the electric power supply and trigger losses from business interruption and damaged physical assets.

My recent conversation with Verisk Review covers the impact of space weather events, the financial consequences to insurers, and steps insurers can take to manage and evaluate their exposure.

We discussed:

What are the chances of space weather causing a long-term power outage?
Just how rare are such catastrophic events?
An example of a recent severe space weather event and what caused it.
Steps can insurers take to manage and evaluate their exposure.
Recommendations for specific mitigation strategies for long-term outages.

Tap insights from the full conversation by clicking here.