Catastrophe News

Guy Carpenter Launches G-CAT® Canada Flood Model

Guy Carpenter launched its G-CAT® Canada Flood Model, which it describes as the first ever probabilistic flood model for Canada that enables insurers to assess their exposure to flood, Canada’s most frequently occurring natural hazard. Large areas of Canada experience …

RMS Releases Updated Europe Windstorm, North Atlantic Hurricane Models

RMS, the Newark, Calif.-based catastrophe risk management firm, has released updated RMS Europe windstorm models and North Atlantic hurricane models. The 15.0 RMS® Europe Windstorm Models’ hazard and vulnerability components have been updated to strengthen risk selection and portfolio management …

Climate Change Modeling on Cusp of Paradigm Shift

In the face of growing interest in climate change impacts, several big catastrophe modelers said they’ve heard from more clients interested in receiving climate-related data and they believe the field is on the cusp of a change in the way …

Sophisticated Resilience Model in Development in Colorado – And It’ll be Free

Efforts are underway in Colorado to build a sophisticated computer model that will offer a look down to the minute details at just how communities may withstand – or crumble under – perils like earthquakes, hurricanes, tornadoes, tsunamis and other …

Experts: New Normal Creating Need for More Predictive Modeling

A “new normal” has created the need for the catastrophe modeling to move from historic to predictive methods of looking at extreme weather risk, according to a panel of risk experts speaking Tuesday at the annual Chartered Property Casualty Underwriter …

Canada Eyes Insurance Pollution Fund for Oil-By-Rail Risks

The Canadian government is looking at extending the insurance burden for crude-by-rail disasters beyond just railways and is weighing the idea of a special fund similar to one once set up for maritime oil spills, a government official said. The …

Insured Losses From the Napa Quake Pegged at $250M or Less

Insured losses from the Aug. 24 earthquake that struck Napa, Calif. will not exceed $250 million, according to a risk management firm. Widespread damage was expected from the 6.0 magnitude event, but there wasn’t much business interruption as most area …

Cat Modeler’s Sharknado Model Follows Campy SyFy Sequel

Editor’s note: Wednesday night’s premier of “Sharknado 2: The Second One” on the SyFy Channel followed last year’s corny flick, which lit up Twitter with praise and insults for its camp and B-grade acting. The product placement-laden, cameo-heavy sequel pitted …

Central Texas Home an Example of the Benefits of Building Stronger

A home in Burnet County, Texas, that was picked up and carried 100 yards by a tornado last month, was reinforced according to its owner, Trenton Ashworth. The National Weather System reported that the EF-2 tornado that hit the Texas …

Climate Change Bottom-Line Talk Grows, S&P Director Says

Companies and governments worldwide are changing their behaviors and examining their risks in the face of climate change, a managing director for Standard & Poor’s said as he held up the insurance industry as a good example of how to …