NSF and NOAA partner to promote the creation of centers for modeling impacts and risk assessment of climate change
May 19, 2023
Whether you own a home, a business or other assets, insurance is an important part of any budgetary calculation involving protection of property. While the insurance and reinsurance sector are at the forefront of translating weather and climate information into financial and societal risks, the industry's focus has been on use of catastrophe models rather than incorporating climate change data and projections that can help characterize future conditions.
A new agreement between the U.S. National Science Foundation and the National Oceanic and Atmospheric Administration will support the creation of an Industry-University Cooperative Research Center (IUCRC) focused on modeling catastrophic impacts and risk assessment of climate change to help better support the needs of the insurance sector.
Read the full dear colleague letter calling for IUCRC planning grant proposals for modeling of catastrophic impacts and risk assessment due to climate change.
The U.S. National Science Foundation propels the nation forward by advancing fundamental research in all fields of science and engineering. NSF supports research and people by providing facilities, instruments and funding to support their ingenuity and sustain the U.S. as a global leader in research and innovation. With a fiscal year 2023 budget of $9.5 billion, NSF funds reach all 50 states through grants to nearly 2,000 colleges, universities and institutions. Each year, NSF receives more than 40,000 competitive proposals and makes about 11,000 new awards. Those awards include support for cooperative research with industry, Arctic and Antarctic research and operations, and U.S. participation in international scientific efforts.