Reinsurance News

Risk Modelling

North Atlantic Hurricane losses could increase 24% by 2050: RMS

7th May 2021

Catastrophe risk modelling and solutions company RMS has revealed that according to its new Climate Change Models, insured average annual losses (AAL) from North Atlantic Hurricane wind could potentially increase by as much as 24% by 2050. It also noted that European Flood risk AAL could increase by up to 59% ... Read the full article

RMS launches new climate change models

22nd March 2021

Catastrophe risk modeller RMS has launched new climate change models to help its customers assess the near and long-term impacts of climate change on physical assets and their businesses. The new models include RMS’s economic modelling framework which uses climate science consensus, including from the Intergovernmental Panel on Climate Change (IPCC). The ... Read the full article

To cut uninsured risks & prevent bankruptcies use more models, finds Oxford study

12th March 2021

The use of a more diverse set of risk models by the catastrophe re/insurance industry would reduce the level of uninsured risks by 50%, significantly raise the volume of available capital and, importantly, prevent a potential insurance industry "bankruptcy cascade", according to a new Oxford study. The study, authored by Professor ... Read the full article

QOMPLX to develop multi-peril modeling platform

11th March 2021

Risk analytics provider QOMPLX has revealed that it plans to develop a dynamic multi-peril modeling platform following its acquisition of insurance modelling and actuarial platform Tyche. The acquisition of Tyche was announced recently alongside news that QOMPLX has elected to go public via a merger with special purpose acquisition company, ... Read the full article

Praedicat and Lloyd’s Lab develop risk model for casualty insurers

25th November 2020

Lloyd’s Lab and risk modelling firm Praedicat have developed a series of scenarios for the casualty insurance market in the face of the COVID-19 pandemic. The scenarios are designed to help insurers that have a clash risk from COVID-19 that impact general liability and directors & officers (D&O) lines within an ... Read the full article

AbsoluteClimo upgrades global risk models

18th November 2020

AbsoluteClimo has announced an enhanced version of its global risk models GOTCHA and ClimoCats, both of which are linked to climate physics and machine learning predictions. The enhancements include upgraded machine learning and AI tools, wider tail risk probability forecasts, differential and departure forecasts, and a new global pandemic climate-epidemiology prediction ... Read the full article

Human behaviour critical to pandemic & cyber modelling: CyberCube

16th November 2020

A new report by cyber analytics provider CyberCube stresses the importance of understanding and predicting human behaviour when it comes to modelling both pandemic and cyber risk. According to the report, which sets out to understand the lessons both pandemic and cyber modelers could learn from each other, the potential for ... Read the full article

More collaboration needed on cat modelling: Twelve Capital’s Jamie Rodney

13th November 2020

Dr. Jamie Rodney, Executive Director of ILS Analytics at ILS investment manager Twelve Capital, has argued that more collaboration is needed across the re/insurance industry when it comes to catastrophe modelling. Rodney’s keynote speech at the online Prospectus 2021 conference yesterday offered some insights into peak catastrophe perils and the ... Read the full article

CoreLogic & Munich Re partner on climate risk modelling

24th September 2020

Property information and analytics provider CoreLogic has partnered with Munich Re to model climate risk exposures for individual properties in Australia and New Zealand. The partnership will combine Munich Re’s climate analytical capabilities with CoreLogic’s property data coverage and connection to banking, valuation, insurance and real estate systems. Together, they will aim ... Read the full article

AIR updates Multiple Peril Crop Insurance Model for China

23rd September 2020

Catastrophe risk modelling firm AIR Worldwide (AIR) has announced that it released an updated Multiple Peril Crop Insurance (MPCI) Model for China. The product has been updated in order to support probabilistic assessments for five newly modelled crop lines of business and a newly modelled sub-peril. This update also includes a ... Read the full article

Xceedance and Oasis LMF offer exposure analysis for US perils

17th September 2020

Re/insurance service provider Xceedance has teamed up with the Oasis Loss Modelling Framework (Oasis LMF) to offer on-demand exposure analysis and results for three key US catastrophe perils. In partnership with model providers CoreLogic, Fathom, and Applied Research Associates (ARA), the Xceedance-Oasis LMF services provide loss metrics for US earthquake, flood, ... Read the full article

Guy Carpenter launches Indonesia Flood Model

9th September 2020

Global risk management and reinsurance brokerage, Guy Carpenter, has announced the launch of its new Indonesia Flood Model (IFM). The IFM will be able to provide its users with countrywide coverage and will enable insurers to assess their flood exposure. The data used is based on a 10,000-year stochastic catalogue simulating ... Read the full article

Willis Research Network & Metabiota partner on pandemic risk

19th August 2020

The Willis Research Network (WRN), a research division of the insurance and reinsurance broking group at Willis Towers Watson (WTW), has partnered with Metabiota, a risk analytics organisation that specialises in infectious diseases modelling and builing resilience to pandemics. The partnership aims to leverage Metabiota’s epidemiological data analytics capabilities to improve ... Read the full article

AIR updates Tropical Cyclone and Earthquake Models for the Caribbean

31st July 2020

AIR Worldwide has announced the release of two updated catastrophe risk models for the Caribbean region, covering tropical cyclone and earthquake risks. The company said this will provide re/insurers with models which show a comprehensive view of risk across 29 countries and territories in the region. The AIR Tropical Cyclone Model for ... Read the full article

AIR Worldwide updates earthquake model for Australia

30th July 2020

Catastrophe risk modelling firm AIR Worldwide (AIR) announced the release of its updated Earthquake Model for Australia. The updates were prompted by findings in the National Seismic Hazard Model from Geoscience Australia (GA), which challenged established ideas about seismic activity in the country and significantly decreased the view of seismic hazard. The ... Read the full article

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