20 June 2023Analysis

New catastrophe risk journal created

A new interdisciplinary research journal, the Journal of Catastrophe Risk and Resilience (JCRR), has been launched to allow academia and beneficiaries in finance and vulnerable countries access to risk data.

A not-for-profit publication, JCRR is supported by a number of organisations from across academia and the private sector, with founding member organisations including: AXA XL, Fathom, Lighthill Risk Network representing Lloyd’s, Hiscox, Guy Carpenter, Aon, Liberty Mutual Syndicate, Hiscox, MS Amlin, Flood Re, Renaissance Re, JBA Risk Management and WTW.

“It is a big day for scientists and experts in all sectors working on catastrophe risk,” said Adam Sobel, Professor at Columbia University. “With the launch of the Journal of Catastrophe Risk and Resilience, we now have the opportunity to share our research, to incite broader debate and discussion than any other forum yet does – especially between private sector and academic scientists – and to ensure positive change through what truly is the first diamond open access peer-reviewed journal of its kind.

“In order to meet the global challenges of the present and future, the science of catastrophe risk needs to broaden from its pragmatic industry roots into a true scientific field. To do this it needs proper institutions, and among the most important of those are journals. A journal has not yet existed that can serve all the diverse communities and practitioners in this space; JCRR will be that journal. It will not just share and encourage new research, but, critically, also ensure that such content will be accessible to everyone working towards resilience and climate adaptation.”

Kirsten Mitchell-Wallace, director of Portfolio Risk Management, Lloyd’s of London, said: “In an era of unprecedented risk and uncertainty, risk management and insurance are more important than ever. This journal – offering both a platform to access new ideas, and standard for best practice in the industry – therefore couldn’t be more timely. It will help encourage the collaboration between academia and insurance that will enable us to build a more resilient world.

“All of us in the insurance industry are excited to see how this new wave of research informs both our underwriting and our understanding of risk in the months and years ahead.”