Reinsurance News

Risk Modelling

KCC launches climate conditioned catalogs for hurricanes, floods & wildfires

6th December 2022

Karen Clark & Company (KCC) has announced the launch of complete stochastic climate-conditioned catalogs for the weather-related perils most impacted by climate change, hurricanes, floods, and wildfires. There are five associated climate catalogs for each peril, reflecting climate projections out to 2025, 2030, and 2050. Additionally, there are three separate views for ... Read the full article

TigerRisk warns of inconsistent climate conclusions from cat model indexing

2nd December 2022

Analysts at re/insurance risk, capital and strategic advisor TigerRisk Partners have warned that methods of indexing in catastrophe models can skew perspectives on recent loss trends and lead to “inconsistent conclusions” when it comes to the impact of climate change. In a recent report, the broker noted that there has been ... Read the full article

Praedicat launches Nekomodel X for casualty cat risk

3rd November 2022

Praedicat, the liability emerging risk analytics company, has launched a new probabilistic casualty catastrophe model called Nekomodel X to help facilitate exposure-based pricing and reserving for insurers. Nekomodel X is designed to expand on the underwriting applications of previous model releases, incorporating data on exposure to emerging risks to help drive ... Read the full article

Verisk releases climate projections for US hurricane & Caribbean cyclone

18th October 2022

Global data analytics provider Verisk has announced the release of climate change projections for its U.S. Hurricane and Caribbean Tropical Cyclone Models to help quantify climate-related, extreme event losses and their potential evolution over the next few decades. The climate change projections provide a probabilistic view of future risk in 2030, ... Read the full article

European flood added to PERILS database

12th September 2022

Zurich-based catastrophe loss aggregator PERILS has expanded its market coverage to include exposure and event loss data for European floods. The new service, which comes in the wake of devastating floods across Europe in 2021, will enhance the firm’s existing windstorm coverage across the continent. The expanded coverage means that data for ... Read the full article

Florida insurers could struggle to respond to a $100bn repeat of Hurricane Andrew: RMS

26th August 2022

According to RMS, a Moody’s analytics company, because of significant exposure growth, the impact of social inflation, and climate change complications, Florida’s insurance market could struggle to respond to a repeat of a Category 5 hurricane, such as Hurricane Andrew - which hit southwest Florida in 1992. RMS highlighted that the ... Read the full article

Fathom and Reask announce “strategic” partnership

23rd August 2022

Flood risk modeller Fathom has partnered with Reask, a climate risk analytics firm specialised in atmospheric hazard models, to create combined wind and flood risk models. This “strategic” partnership aims to provide insurers, banks and ESG-focused investors with an unparalleled view of risk data on the combined impact of flood and ... Read the full article

Reinsurers could be underestimating seismicity risk following megathrust events

14th June 2022

Seismic hazard models attempt to predict the long term risk of earthquakes by looking at, among other things, the slowly changing stress that builds on faults. However, there is new evidence to suggest that megathrusts and other very large earthquakes fundamentally alter the nature of the hazard. It seems that these large ... Read the full article

RMS upgrades weather & terror models to high def

20th May 2022

RMS, the Moody’s-owned risk modelling and solutions company, has announced it will release four new high definition risk models, including for Europe Windstorm, North America Winterstorm (WT), North America Severe Convective Storm (SCS), and Terrorism. The HD probabilistic models incorporate a high-fidelity, simulation-based framework for modelling event frequency and severity, which ... Read the full article

RMS launches cloud-based application, UnderwriteIQ

18th May 2022

RMS, a risk modelling and solutions company has announced that it will be launching a new application – UnderwriteIQ, which will be hosted on the cloud-based RMS Intelligent Risk Platform. The application will enable underwriters to have greater control of risks by bringing hazard, exposure, and loss data together in the ... Read the full article

Skyfora updates Tropical Storm Seasonal Forecast model

5th April 2022

Skyfora has updated its Tropical Storm Seasonal Forecast model, a solution which provides probabilistic predictions for the likelihood of various events in different categories for the upcoming tropical cyclone season. The categories consist of tropical cyclone (TC) intensity, TC genesis by region, and TC landfall by region. In addition to pre-season forecasts ... Read the full article

Xceedance enters into partnership with Ultimate Risk Solutions

21st March 2022

Re/insurance service provider Xceedance has announced a partnership with Ultimate Risk Solutions (URS) to deliver risk management, modelling and actuarial and analytics services to insurance organisations worldwide. The partnership combines URS’s expertise in risk and financial modelling with the actuarial and analytics capabilities from Xceedance, enabling insurance organisations to optimise reinsurance ... Read the full article

NN Re picks RMS for risk analysis on Orange Capital Re bond

11th February 2022

Risk modelling and solutions company RMS has been choosen by NN Re to conduct the risk analysis for its new catastrophe bond, issued through Orange Capital Re DAC. NN Re, which is the reinsurance and hedging company of NN Group, an international financial services company, issued Orange Capital Re DAC ... Read the full article

New Zealand’s Earthquake Commission to use new loss modelling platform

27th January 2022

New Zealand's Earthquake Commission (EQC) expects its new loss modelling capability will boost its ability to plan for future natural disasters and respond to them when they occur. Along with two of the country's other research institutions, EQC is now using GNS Science and NIWA’s risk tool to model damage and ... Read the full article

RMS signs consultancy agreement with Tunis Re

30th December 2021

Catastrophe risk modelling and solutions company RMS has signed a consulting agreement with Tunis Re to create an exposure and accumulation study, with a focus on Flood, Terrorism and other natural catastrophes. It's hoped the work will enable Tunis Re to increase monitoring of its exposures and further expand its risk ... Read the full article