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UPDATE JULY 2020

The Australian Actuaries Climate Index shows weather conditions in Autumn 2020 in Australia returned to typical levels after a period of extremely destructive bushfires and storms.

While the record-breaking extreme high temperatures, dryness and rainfall of the summer have subsided, a clear long-term trend towards an increasing frequency of extreme weather remains.

The overall index value for Australia breaks no records in terms of its magnitude, but it is the 19th consecutive season that has a positive index value for the country as a whole.

This shows that while extreme weather events do not occur every season, a long-term trend towards a more extreme climate can be observed.

View the media release (15 July 2020).

UPDATE - MAY 2020

The latest Australian Actuaries Climate Index shows records were set across Summer 2019/20 for extreme high temperatures and consecutive dry days. In parts of NSW, extreme wind levels and consecutive dry days were the highest ever.

The combination of extreme heat, dryness and wind resulted in the third highest climate index value for Australia. These extreme weather conditions enabled the destructive bushfire season that resulted in $2.3 billion of insurance losses and claimed 34 lives over the Summer.

The conditions also show the extreme rainfall that accompanied severe hail in ACT, NSW, and VIC in late January. Greater Sydney dam levels rose from historically low levels at 44.1%, to 64.0% capacity in a single day due to the extreme rainfall.

View the media release (4 May 2020).

UPDATE - february 2020

The latest update, shows every region experienced above reference period average extreme high temperatures and several regions broke records. Above reference period average consecutive dry days were also observed in every region except Tasmania. Extreme wind levels for Australia as a whole were the fourth highest. The combination of Saveextreme heat, dryness and high levels of wind are likely to have laid the foundations for the severe bushfires observed in recent months.

View the media release (6 February 2020)

Update - november 2019

View the media release (19 November 2019)

PRESENTATION - November 2019

AACI Presentation to Climate Change Forum by Rade Musulin on 6 November 2019.

update - september 2019

This update shows Autumn 2019 continued the pattern of extreme weather. Last Autumn ranked as the second most extreme in the number of hot days ever recorded in the three months from March, and the third when ranked against all seasons. Only the Autumn of 2016 and the Summer of 2018/2019 showed more extreme high temperatures.

View the media release (12 September 2019)

View latest media coverage.

UPDATE - MAY 2019

The Australian Actuaries Climate Index (AACI), updated for the summer of 2018-19, shows the component indices reaching record levels for extreme high temperatures, rainfall in the northern tropics and drought in central regions.

View the media release (30 May 2019).

UPDATE - MARCH 2019

The Australian Actuaries Climate Index (AACI), updated for the first time since its launch in late 2018, shows the number of extreme hot days was above historical levels in both Winter and Spring 2018, and portions of Australia remained extraordinarily dry showing distinct signs of drought.

View the media release (13 March 2019). To explore the AACI select Component Graphs or Regions under the Explore menu.  

MEDIA COVERAGE

Australia: Frequency of extreme hot days rising
Asia Insurance Review - 18 March 2019
 
Climate Index shows increasing frequency of hot days in Australia
Insurance Business Australia - 14 March 2019

Australian Actuaries Climate Index shows frequency of extreme hot days rising
Adviser Voice - 14 March 2019

The runaway insurance effect
ABC News - 13 March 2019

Extreme heat is on the rise, but extreme rainfall is not
Australian Financial Review - 13 March 2019

LAUNCH - November 2018

View the media release (12 November 2018).

MEDIA COVERAGE

Climate Index ‘won’t cause premium spike’
Insurance News - 19 November 2018
The Actuaries Institute’s new Climate Index won’t cause insurance premiums to rocket up, Finity Principal Tim Andrews says. The first...

Actuaries track climate risk with new index
Shed Connect - 14 November 2018
The Actuaries Institute has launched a climate index, providing policymakers and businesses with a measure of the frequency of extreme weather conditions and changes to sea levels.

Actuaries’ climate index reveals extreme change        
Insurance News -  12 November 2018
The frequency of extreme weather conditions in autumn this year exceeded historical trends, with risks linked to higher temperatures and...

Going to extremes: How climate change will make insurance more expensive  
PSnews -  12 November 2018
Peter Ryan says the Australian Actuaries Climate Index shows insurance premiums will rise as extreme weather conditions become more...

Actuaries Institute launches climate index    
AdviserVoice -  9 November 2018
The Actuaries Institute has launched a climate index, an objective measure of extreme weather conditions and changes to sea levels, to help...

APRA welcomes Climate Index
InvestorDaily -  9 November 2018
A climate index has launched to measure extreme wealth conditions with support for industry groups like APRA and the investor group on...

New climate index launched  
Insurance Business AU -  9 November 2018
The initiative seeks to help organisations assess risks from climate change…

Australia: Actuaries launch quarterly climate index

Asia Insurance Review - 9 November 2018
The Actuaries Institute yesterday launched a climate index, an objective measure of extreme weather conditions and changes to sea levels...

APRA welcomes new Climate Index
Australian Banking and Finance - 9 November 2018
The Actuaries Institute has launched a Climate Index to help policymakers and businesses measure the impact of extreme weather...

Extreme weather could see insurance premiums rise, actuarial index warns    
ABC News -  8 November 2018
Residential property owners and businesses are likely to face higher insurance premiums after a new actuarial index warned about rising...

Insurance premiums to rise as extreme weather conditions become more common
ABC News -  8 November 2018
Residential property owners and businesses are likely to face higher insurance premiums after a new actuarial index warned about rising...

APRA welcomes new Climate Index
Australian Banking and Finance - 7 November 2018
The Actuaries Institute has launched a Climate Index to help policymakers and businesses measure the impact of extreme weather...

Climate change: Actuaries sound extreme weather alarm for insurers
Financial Review (Licensed by Copyright Agency) -  7 November 2018
Businesses, property owners and households may have to pay more for insurance and investment loans after a new...

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