cat modeling News
How Insurance Is Rethinking Cat Modeling After Last Year’s Disasters
After Hurricane Harvey swept through Texas last August, it left behind not only an estimated $125 billion in damage and nearly 50 inches of rain in some areas but also questions for the insurance ...
Hurricane Katrina’s Legacy
Hurricane Katrina was a deadly storm that caused a large loss to the insurance industry—but not so large that it shouldn't have been anticipated by the catastrophe models. In the months after this ...
Climate Change Not Yet Boosting Atlantic Hurricane Activity: Karen Clark & Co.
Climate change may be ongoing, but it doesn't seem to have any measurable effect so far on North Atlantic hurricanes that drive cat market losses. The future, however, could be much more risky. ...
Can Karen Clark Move Forward the Cat Modeling Industry She Helped Create?
Karen Clark scored a bonafide first when she launched catastrophe modeling company Applied Insurance Research (AIR) in 1987. With a focus on computer simulations, it was the only operation of its ...
Economic Losses From Natural Disasters Could Hit $750 Billion Annually in 15 Years: AIR Study
Economic losses from global natural catastrophes likely will triple over the next 15 years, unless steps are taken to reduce bad development choices, according to preliminary results of a catastrophe ...
RMS Debuts Global Tsunami Scenario Catalog
RMS released a global tsunami scenario catalog to help insurers and reinsurers assess risks in high exposure regions they cover. The catastrophe modeling firm touted the catalog as the first of its ...
Willis Re Unveils Japan Tsunami Model in an Industry Milestone
Willis Re has come up with a Japan tsunami model, something it asserts is a first-time milestone for an extreme weather event whose resulting losses have been hard for the industry to understand. In ...