catastrophe modeling News

Typhoon Lionrock Makes Landfall in Japan, Bringing Landslides, Floods & Deaths

With strong winds, drenching rain, high surf, and coastal flooding, Typhoon Lionrock made landfall in the Tohoku region of Japan Tuesday evening local time, near the city of Ofunato in Iwate Prefecture, according to an advisory from catastrophe modeling firm …

RMS Releases Suite of Europe Inland Flood Risk Data to Open U/W Opportunities

RMS, the Newark, Calif.-based catastrophe risk management firm, has released a suite of Europe inland flood hazard data products. Describing the release as “the highest resolution view of the risk available on the market,” RMS said the data products include …

Ports in Japan, China and U.S. Face Highest Risk from Natural Catastrophes: RMS

Ports in Japan, China and the U.S. face the greatest financial risk from natural disasters because of their vulnerable locations and increasing cargo volumes, a risk-management firm said. Nagoya, Japan, leads all ports with a potential $2.3 billion cost to …

Just 2% of China’s July Floods Covered by Insurance, vs. Nearly 70% in U.S.: Aon

China’s seasonal “Mei-Yu” rainfall in July led to the worst flooding since 1998, bringing total combined economic losses of an estimated US$33 billion, according to a report published by Impact Forecasting, Aon Benfield’s catastrophe model development team. Affecting the Yangtze …

Climate Change Modeling is Closer than You Think

For the last few years you got a common response from catastrophe modelers who advise the property/casualty industry when asked about including the effects of climate change in modeling. It went something like: “The industry isn’t interested in what the weather …

AIR Worldwide Expands Global Pandemic Model to Include 6 Additional Diseases

Boston-based catastrophe risk modeling firm AIR Worldwide (AIR) announced it has expanded its Global Pandemic Model to include outbreaks of six additional diseases. The model now explicitly accounts for nine pathogens, including bacterial and viral diseases, in addition to previously …

Lloyd’s Has Potentially Large Exposure to Catastrophic Cyber Attack: Adsensa Review

A review of almost 400 reinsurance contracts underwritten at Lloyd’s of London has revealed potentially significant vulnerabilities and exposures if a catastrophic cyber attack should occur. Analysis of 392 property and casualty reinsurance policies underwritten by a trio of reinsurers …

Global Insured Losses Hit $30B in 1H 2016, 30% of Economic Losses: Aon Benfield

Preliminary global economic losses reached US$98 billion during the first half of 2016, while global insured losses hit US$30 billion – their highest levels since 2011, according to Impact Forecasting, Aon Benfield’s catastrophe model development team. These losses – economic …

AIR Worldwide Launches Global Resilience Practice with Kaniewski as Leader

Catastrophe modeling firm AIR Worldwide (AIR) has formed a global resilience practice, which aims to support risk reduction and resilience initiatives across the globe. These initiatives are aimed at developing solutions to aid society’s efforts to better prepare for and …

Global Flood Events Rack Up $5B in Economic Costs in June: Aon Report

Major floods across the globe during June – topped by events in China and the U.S. – are expected to bring economic costs in excess of US$5.0 billion, according to Impact Forecasting, Aon Benfield’s catastrophe model development team. Seasonal “Mei-Yu” …