catastrophe model

Moody’s Corporation has agreed to acquire CAPE Analytics, a provider of geospatial AI intelligence for residential and commercial properties across the United States, Canada, and Australia.

KatRisk, the catastrophe risk modelling software provider and the third-party risk modelling agency for the NFIP’s FloodSmart Re catastrophe bonds, has been acquired by Technosylva, a company focused on wildfire simulation modeling, risk analysis and operational response software solutions.

Catastrophe risk software provider KatRisk has unveiled a Severe Convective Storm (SCS) Model designed to transform how the insurance industry manages volatile weather risks, such as hail, tornadoes, and straight-line wind.

Severe convective storm (SCS) losses in the United States drove insurance and reinsurance market losses of $50 billion to $60 billion in 2023, but while this was above-average, risk modeller Karen Clark & Company warns that annual losses from the peril could be much higher.

Global data and analytics firm Verisk has announced a new milestone for its widely used catastrophe risk models, as it claims to have become the first company to put all of its model range onto a next-generation framework.

A few signs emerged at the recent January 1st 2024 reinsurance renewals that bode well for protection buyers as we move through this year and into the next, as broker Aon highlighted that appetite is returning for some of the more challenged products and areas of the tower.

Global risk data technology and analytics firm Verisk has promoted long-standing executive Rob Newbold as the President of its Extreme Event Solutions risk modelling division, to succeed Bill Churney who retires at the end of this year.

Having spent time in Bermuda and attended the recent PwC Insurance Summit on the island, the equity analyst team at BMO Capital Markets has concluded that the insurance and reinsurance industry is suffering a lack of confidence in its risk models, which they say has been a key driver in capital flight and retrenching higher.

KatRisk, a specialist provider of catastrophe modelling solutions for a growing range of perils including flood, wind, fire, weather and climate risks, has secured a growth investment from private equity investor TA Associates.

The global insurance and reinsurance industry now faces an average annual natural catastrophe loss bill of around $133 billion, up 8% from the prior year and now, perhaps alarmingly, up 25% in just two years, according to the latest research from Verisk.