This presentation examines space weather as an emerging systemic risk with potential implications for insurance, and critical infrastructure. Drawing on research from the May 2024 geomagnetic storm – one of the most intense events of Solar Cycle 25 – the talk demonstrates how simultaneous disruptions across agriculture, aviation and power systems expose a significant daily economic vulnerability that largely remains uninsured.
Key findings reveal that GPS scintillation during geomagnetic storms degrades positioning accuracy, simultaneously disrupting precision farming (∼$500M May 2024 loss), transatlantic aviation (>$100M daily impact), and power grid operations. Unlike regional disasters, space weather creates globally correlated, simultaneous infrastructure failures that current insurance models are fundamentally unprepared to address. A comprehensive investigation into space weather risk management and infrastructure resilience is urgently needed.
Speaker: Dr Waqr Younes, Boston University’s Center for Space Physics
Dr. Waqar Younas is a Research Scientist at Boston University’s Center for Space Physics and a former NASA Jack Eddy Postdoctoral Fellow. Holding a Ph.D. in Physics (2020), Dr. Younas specializes in space weather, ionospheric dynamics, and GNSS/GPS signal degradation. His work is published in leading journals such as Geophysical Research Letters (GRL) and the Journal of Geophysical Research (JGR), including studies on continental-scale GNSS disruptions triggered by ionospheric disturbances. His breakthrough findings on storm-time "plasma walls" causing positioning errors exceeding 70 meters have been highlighted across many news media outlets, including Space.com and NSF News, underscoring space weather risks to precision agriculture, aviation, and satellite navigation. He is also serving as Topic Editor for Frontiers in Physics.
Chair: Lawrence Habahbeh, Systemic Risk & Geopolitical Risk Specialist
Pricing and booking information
| Members | Book for free |
| Non-members | Book for £45 |