catastrophe modeling News

AIR Worldwide Launches Crop Hail Model for Canada

Catastrophe risk modeling firm AIR Worldwide announced it has released a Crop Hail Model for Canada to provide crop insurers with a probabilistic view of crop hail risk in Canada. Based on 10,000 simulations of potential annual hail activity, the …

PERILS Releases European Windstorm Catalogue (1979-2015)

PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data, has released a storm catalogue containing the gust footprints of more than 200 of the largest European windstorms from the period 1979 to 2015. The windstorm catalogue was produced …

Sompo Develops Nat Cat Model for NW Australia Offshore Oil & Gas Installations

Sompo Japan Nipponkoa Insurance Inc. (SJNKI) and Sompo Canopius AG are launching a natural catastrophe risk model for north-west Australia offshore oil and gas installations. The model development was carried out by Sompo Risk Management & Health Care Inc., which …

Latin America Reinsurer Patria Re Selects RMS Cat Risk Models

Newark, Calif.-based RMS announced that Latin America reinsurer Reaseguradora Patria (Patria Re) has licensed its full range of models and analytical services for Latin America and the Caribbean. These regions have a high exposure to natural catastrophe risk and produce …

Trump’s Proposed Cuts to NASA and NOAA Could Impact Forecasting, Modeling

Funding cuts proposed in a White House budget that has been on the table for months spook some experts who are concerned that the ability to do everything from model changes in the climate to forecast the day-to-day weather could …

U.S. Weather in March to Cost Insurers More than $2 Billion: Aon

Four severe weather outbreaks in the U.S. throughout March led to extensive damage in the central and eastern parts of the country, costing the insurance industry in excess of US$2.0 billion, according to a report published by Impact Forecasting, Aon …

Cyclone Debbie Rips Across Australian State, Leaving ‘War Zone’; AIR Comments

A huge clean-up operation is under way in the Australian state of Queensland after a powerful cyclone swept through the region, tearing roofs off buildings, downing trees and forcing tourists to bunker down at luxury island resorts. The Whitsunday Islands …

JLT Re Partners with KatRisk to Expand Modeling Capability in Canada

JLT Re, the London-based reinsurance broker and consultancy, has combined forces with flood modeling company, KatRisk, to enhance its flood risk modeling capabilities for clients across Canada. Berkeley, Calif.-based KatRisk’s suite of flood risk modeling tools includes both flood inundation …

Weather Events in U.S., Australia Cost Insurers $1B+ in February: Aon

Insurers face claims of more than US$1.0 billion as a result of severe weather events in the U.S. and Australia during February, according to a report published by Impact Forecasting, Aon Benfield’s catastrophe model development team. The report discussed the …

Hiscox Appoints RMS’ Khare as Group Head of Catastrophe Research

Specialist insurer Hiscox has appointed Shree Khare as group head of Catastrophe Research. Khare will lead the research that directly informs Hiscox’s own view of risk and its underwriting strategies for catastrophe perils. In particular, while working across the Hiscox …