risk model

Weather intelligence startup Skyfora, which is based in Helsinki, Finland, has developed an artificial intelligence powered tropical storm intensity forecasts tool, which it believes can give insurance, reinsurance and ILS market participants enhanced insights into potential hurricane landfall impacts.

A research study from Oxford University has found that adopting at least four views of risk can make a significant difference to catastrophe insurance underwriting performance, which presumably also applies in the reinsurance and insurance-linked securities (ILS) worlds.

Insurance and reinsurance broker Aon is working in collaboration with Praedicat to develop named peril liability reinsurance products to help insurers transfer emerging liability risks such as those related to nanomaterials and 5G to traditional reinsurers and also the capital markets.

The deepening of the world’s understanding, measurement and valuation of climate risks is going to drive a massive demand for contingent risk capital, which parametric triggers and insurance-linked securities (ILS) will be well-suited to serve, Rowan Douglas of Willis Towers Watson explained during our ILS NYC event this week.

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.

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.

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 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.

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 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.