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Catastrophe modelling and climate change
Posted on: 11 June 2014
By: mackene
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Filed under: News
Against a background of more frequent severe weather events, such as floods and windstorms, a new report from Lloyd’s highlights the importance of insurers ensuring that their catastrophe modelling tools keep pace with the effects of climate change. Produced by Lloyd’s Exposure Management & Reinsurance team, this report explains how the insurance industry increasingly relies on computerised “probabilistic” catastrophe models from different providers to manage their catastrophe risk exposures. Through a series of case studies contributed by academics and third party vendor experts, the Lloyd’s report looks at how today’s catastrophe models account for climate change.
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