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Climate change may increase hurricane damage & losses: AIR-led report

Climate change and the future state of our climate may mean increased damage and ultimately insurance and reinsurance market losses from hurricanes, as more frequent storms and sea-level rise ramp up storm surge impacts in particular. This is the conclusion of a study undertaken by risk modeller AIR Worldwide, insurance and read the full article →

“Time to act” as climate role in disaster losses increases: Jeworrek, Munich Re

It is time for the world to act on climate change as it will play an increasing role in disaster losses, Torsten Jeworrek of reinsurance company Munich Re warned today. Munich Re reported today that the global insurance and reinsurance industry faced some $82 billion of natural disaster losses in 2020, read the full article →

AbsoluteClimo & AKR Zell team up to provide climate-driven risk services

AbsoluteClimo, a climate and weather modeling, forecasting and risk management firm based in Hawaii, has teamed up with AKR Zell, a Singapore-based actuarial consultancy, with the collaboration set to deliver climate-driven risk services to the insurance, reinsurance and insurance-linked securities (ILS) sectors. The pair have spotted an opportunity to fill gaps read the full article →

Climate risk protection gaps need capital market (ILS) solutions

The physical climate risk protection gap, so the gulf between climate related losses covered by insurance, reinsurance or risk transfer and those going uncovered, is widening, but instruments such as insurance-linked securities (ILS), catastrophe bonds and other blended financing solutions can help to narrow this gap. In real estate the climate read the full article →

AbsoluteClimo updates climate catastrophe risk & financial models

AbsoluteClimo, a climate and weather modeling, forecasting and risk management firm based in Hawaii, has announced upgrades to its core service of climate catastrophe risk models and climate financial modelling tools. The two products, G๏TCHA and Clim๏Cats, are financial models linked to global climate physics and machine learning predictions and for read the full article →

1-in-100 year global insured loss now over $300 billion: AIR

The 1% aggregate exceedance probability insured loss (also the 100-year return period loss) from catastrophe events around the globe has risen to more than US $300 billion, according to risk modeller AIR Worldwide. This figure has been rising steadily in recent years and now reaching almost $301 billion it is at read the full article →

Climate not the only uncertainty with peak perils: Dr. Jamie Rodney, Twelve Capital

In light of its uncertain but apparent influence on both the frequency and severity of natural catastrophe events, it's no surprise that climate change is at the forefront of the minds of catastrophe risk underwriters, investors and of course model vendors, but it's important to remember that this is not read the full article →

RMS updates its HWind hurricane forecasting products

Catastrophe risk modelling specialist RMS has updated its suite of HWind hurricane forecasting products, which are part of the RMS HWind Real-Time Analysis solution. Coming as the 2020 hurricane season moves towards the peak of what is forecast to be an incredibly active year, RMS' tools that help insurance, reinsurance and read the full article →

AIR updates U.S. hurricane & inland flood catastrophe models

Catastrophe risk modelling specialist AIR Worldwide announced this week some timely updates to its Hurricane and Inland Flood Models for the United States. With hurricane season now underway and all forecasts pointing to an active year for tropical storms near the U.S., AIR's risk model updates come at just the right read the full article →

Risk of large San Andreas quake up 3 to 5-fold since Ridgecrest: Temblor

The Ridgecrest, California sequence of earthquakes has increased the risk of a major San Andreas fault earthquake event occurring, according to newly published research. The paper published by Ross Stein of specialist seismic hazard catastrophe modelling company Temblor, Inc. and Shinji Toda of the International Research Institute of Disaster Science (IRIDeS) read the full article →