International Association of Claim Professionals (IACP), London, UK
Electrical service interruption events can have significant effects, such as disruption of business operations, damaged equipment, food spoilage, burst pipes and household fires. When a solar storm (e.g., space weather) strikes, there is a credible threat of power outages that last for extended periods. It can not only exhaust some business interruption limits but also lead to logistical challenges for field claims adjusters and cause claims from unanticipated causes of loss (mandatory evacuations, civil unrest, theft, etc.). In this session, Kyle Beatty, VP of Business Solutions at Atmospheric and Environmental Research (AER), will explain how space weather events affect the electrical grid, providing the audience with insight into how the grid would fail from a solar storm and what situations can cause such an event to be widespread and long-lasting.