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Where possible, climate risk must be explicitly baked into models: Prospectus 2021

As vendor catastrophe models and elevated annual losses show that secondary perils have grown in prevalence for the re/insurance and insurance-linked securities (ILS) markets, climate risk needs to be explicitly baked in, according to Kelly Hereid, Director, Catastrophe Research & Development, Liberty Mutual Insurance. On day four of Prospectus 2021, the 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 →

CoreLogic hires Wiart in Australia as Head of Consulting & Risk Management

CoreLogic, the property risk modelling, data and analytics company, has hired experienced insurance-linked securities (ILS) and reinsurance executive Pierre Wiart in Australia, to become its regional Head of Consulting and Risk Management. Wiart has most recently been consulting on insurance-linked securities with an Australian investment client, prior to which he worked 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 →

Artemis Live: Interview with RMS’ Jin Shah & Jeff Waters

This week our new video interview features RMS' Jin Shah and Jeff Waters, who joined us to discuss the 2020 Atlantic hurricane season and how technology and analytics can help insurance, reinsurance and ILS market participants be better prepared and respond as storms threaten. All of our Artemis Live video interviews read the full article →

RMS launches model platform updates & new HD Euro SCS risk model

Catastrophe risk modelling specialists RMS have announced the launch of a range of product updates to its Risk Intelligence platform, including a new version of its Risk Modeler tool, updated models, plus new high definition risk models covering the European severe convective storm peril across 17 countries in the region. With read the full article →

WTW launches tool to track Covid-19 property exposure in real-time

Insurance and reinsurance brokerage Willis Towers Watson (WTW) has launched a tool to help risk managers assess their Covid-19 coronavirus property exposure in real-time. The tool delivers real-time, risk and analytics information as part of WTW's Global Peril Diagnostic modelling tool, which now offers up-to-date information on confirmed global COVID-19 cases read the full article →