The Actuarial Climate Index (ACI) was has been newly updated. The five-year average has increased slightly since the most recent update issued in November. The average is now 1.19, compared with the average of zero during the 1961-1990 reference period.
The ACI measures the frequency of extreme weather and the extent of sea level change in Canada and the United States. The updated data for August 2022 were released on February 15.
In the previous update, which covers data for May 2022, the average was 1.16 for Canada and the United States. For the past five years, the highest value for the Index has been 1.23, according to the releases issued in March 2021 and November 2018.
Since the summer of 2018, the five-year average has consistently been higher than 1, and the uptrend continues.
In recent years, significant variations have been observed within the same season. From 2017 to 2022, for the summer, the Index was at its lowest in 2019, at 1.21, and peaked in 2021 at 2.49. In 2022, it was 1.96.
The farther the ACI averages get from zero, the higher the frequency of extreme weather events and extent of sea level rise.
Quarterly seasonal data are collected to compile this index. The ACI components have the greatest effect on the population and the economy: high and low temperatures, heavy rainfall, drought, high wind, and sea level.
The IAC was launched in 2016 by four organizations representing the actuarial profession in Canada and the United States.