In the Western U.S. there are nearly 900,000 homes representing an estimated reconstruction cost of more than $237 billion considered at “very high” or “high” risk from wildfires, a report issued today shows. CoreLogic’s Wildfire Risk analysis is the latest …
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 …
AIR Worldwide announced that The Navigators Group, Inc., an international commercial property/casualty specialty insurance holding company, has selected AIR’s CLASIC/2™ and CATRADER® catastrophe modeling solutions to manage its global catastrophe risk. Navigators “will leverage AIR’s catastrophe models to assess risk …
People aren’t always good at making informed decisions that involve risk, but a new study shows that even when they know the likelihood of certain outcomes based on statistical evidence or their own experiences, people still make decisions at odds …
PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data, announced that it has extended its market coverage to include the peril of inland flooding in the UK. The bulletin explained that as of the first of January the …
The Willis Research Network (WRN), the academic and analysis arm of Willis Group Holdings, has founded the Willis Research Network Economic Capital Forum at Georgia State University (WRN-ECF) with partners at Risklab, ETH Zurich and the Risk Management Institute, National …
Catastrophe modeling firm AIR Worldwide (AIR) today announced that its Catastrophe Risk Engineering (CRE) models now cover industrial and renewable energy facilities worldwide. Their expansion is “aimed at helping insurers, facultative reinsurers, brokers, and risk managers better assess the natural …
Catastrophe models are a great risk management tool for property/casualty insurers but even the person who created the first one is worried that they are being given more credit and influence than they deserve. Karen Clark is an expert in …
