Catastrophe modeling firm AIR Worldwide (AIR) announced it is collaborating with RenaissanceRe, a global re/insurer, as part of a joint effort to enhance the industry’s modeling of long-tail casualty risk. “Since our inception, RenaissanceRe has been at the forefront of …
RMS, the Newark, Calif.-based risk modeling and analytics firm, announced the release of version 17.0 of its North America Earthquake Models for the United States, Canada and Mexico. The updated model will enable RMS clients to manage their risk accumulations …
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 …
Catastrophe risk modeling firm AIR Worldwide (AIR) said it has “significantly expanded” its earthquake and typhoon models for Southeast Asia. The new earthquake model features the ability to account for the tsunami and liquefaction subperils for Indonesia, the Philippines, and …
Aon Benfield, the global reinsurance intermediary, issued a call to the insurance industry to “collaborate to innovate, in order to obtain the most useful risk management insights from catastrophe models.” The call coincides with today’s launch of version 9.5 of …
Over 30 years ago, Karen Clark produced the first catastrophe model – for hurricanes. Since then the use of these valuable tools has changed the face of the re/insurance industry. They are indispensable for the developed world in studying and …
Catastrophe modeling firm AIR Worldwide estimated that the 1 percent exceedance probability loss (or the 100-year return period loss) is approximately $231.5 billion and the long-term average annual loss from natural catastrophes and terrorism is $72.6 billion. These statistics were …
The “casualty catastrophe” is perhaps the most daunting threat that casualty (re)insurers face today, according to GCCapitalIdeas.com, Guy Carpenter’s thought-leadership blog. Casualty (or liability based) catastrophes have become increasingly frequent and severe over the past decade, exposing (re)insurers to much …
Guy Carpenter & Company released Part II of the two-part Ten-Year Retrospective of the 2004 and 2005 Atlantic Hurricane Seasons. Part II focuses on the 2005 hurricane season and the cumulative effects of both the 2004 and 2005 seasons on …
Computer technology has revolutionized the collection and use of massive amounts of data, and yet, somewhat ironically, it’s frequently harder to find what one actually needs. Aphorisms abound – “big data; the devil’s in the details; garbage in garbage out.” …
