risk modelling


Climate catastrophe risk models launched by AbsoluteClimo

AbsoluteClimo, a climate and weather modeling, forecasting and risk management firm based in Hawaii, has launched what it calls the "World's First Catastrophic Risk Models Linked To Skillful Climate Physics Prediction."Climo๏Cats (ClimoCats), as its climate catastrophe risk models are called, will enable insurance, reinsurance and insurance-linked securities (ILS) market participants read the full article →

Weather and climate disasters cost U.S. $91bn in 2018: NOAA

The United States was hit by 14 billion dollar weather and climate disasters in 2018, costing the country roughly $91 billion, according to the U.S. National Oceanic and Atmospheric Administration (NOAA).In its latest report on the state of the U.S. climate in 2018, NOAA reports that the number of weather read the full article →

Insured natural catastrophe losses hit $90bn in 2018: Aon

42 billion-dollar severe weather and natural catastrophe events along with the impacts of a particularly costly global tropical cyclone year and higher than average wildfire losses, all aggregated to drive a $90 billion annual nat cat loss to insurance and reinsurance interests, according to Aon.The insurance and reinsurance broker said read the full article →

Munich Re pegs 2018 catastrophes at $80bn, hikes wildfires & Jebi estimates

Global reinsurance firm Munich Re said today that 2018 catastrophe events have driven an estimated $80 billion of industry losses and in the announcement has hiked some industry loss estimates for events including the California wildfires and typhoon Jebi.In 2018 it seems insurance covered roughly 50% of the total financial read the full article →

Swiss Re estimates global insured losses at $79bn for 2018

Global reinsurance firm Swiss Re has estimated that natural catastrophes and man-made disasters will cost the insurance industry around $79 billion in 2018, the fourth highest annual industry loss on its sigma records.Of the $79 billion, Swiss Re estimates that natural catastrophes will drive $71 billion of the loss to read the full article →

Praedicat aims to help ILS enter the casualty space: CEO Reville

Robert Reville, Chief Executive Officer (CEO) of Praedicat, an InsurTech risk modelling and analytics company for casualty re/insurers, has claimed that the company’s approach to disease litigation may create an opportunity for ILS to enter into the casualty space.Praedicat uses scientific literature to model more than 60,000 potential disease litigation read the full article →

1-in-100 year global insured loss now modeled at $271 billion: AIR

The 1% aggregate exceedance probability insured loss (also the 100-year return period loss) from catastrophe events around the globe is now estimated at almost $271 billion by risk modeller AIR Worldwide, the highest level the metric has ever been placed at.Each year AIR Worldwide reports on global catastrophe exposure and read the full article →

Reinsurance modelling capabilities added to Simplitium’s Oasis powered ModEx

Reinsurance contract modelling capabilities have been added to the Simplitium owned ModEx catastrophe risk modelling platform, which is an independent multi-vendor solution powered by open-source platform Oasis.It's the first time that an Oasis platform has included specific modelling functionality for reinsurance contracts, a step forwards for the use of the read the full article →

Integrate climate science into catastrophe modelling: Geneva Association

Integration of the latest findings in climate science into catastrophe risk modelling would increase its usefulness to society, while adopting a forward-looking approach involving climate change scenarios would also be beneficial, according to the Geneva Association.In a report, the Geneva Association highlights that climate science and the ability to look read the full article →

AlphaCat CEO Zeng to help AIG attain best practice in risk modelling

American International Group (AIG) has expanded the role of Lixin Zeng, the CEO of its AlphaCat Managers third-party reinsurance capital and insurance-linked securities (ILS) unit, asking him to help the insurer to improve its risk modelling.Peter Zaffino, Executive Vice President and Chief Executive Officer of AIG's General Insurance business read the full article →