Category Archives: Natural Catastrophe

Quantifying European Windstorm Models: Comparing the Hazard Models

As we enter another European windstorm season, following a few inactive seasons, we need to look back to key historical events as a reminder of the high loss potential. Indexed to today’s prices and adjusting for market size, Willis Re … Continue reading →

Progress in Assessing Tsunami Risk on a Global Scale

Tsunamis produce some of the greatest losses to lives and livelihoods of any disaster. They ignore country borders, bringing chaos and destruction indiscriminately. These rare events are difficult to study, but we have learnt many valuable lessons from two of … Continue reading →

Climate Resilience and Graceful Failure

Extreme weather events are opportunists. They strike indiscriminately, and selectively expose the parts of society that are underprepared and most vulnerable. We see the lack of resilience to extreme events in the most susceptible regions time and time again in … Continue reading →

Interactive Map of Hurricane Katrina

interactive hurricane katrina

Only ten years ago the city of New Orleans, “the Big Easy” was left battered and broken by ravaging winds and unyielding storm surge brought in by Hurricane Katrina. Even though it was a highly anticipated and well-forecast storm, Katrina … Continue reading →

10 Years On: The Evolution of Modeling Since Katrina

Risk modelling experts on the evolution of hurricane catastrophe models since Hurricane Katrina

The re/insurance industry used catastrophe risk models long before Hurricane Katrina, but Katrina challenged the standards of these models. It called into question the quality of exposure data, how the models were used and their suitability for various business applications. … Continue reading →

30 Years Later: the Ontario Tornadoes of May 1985

On May 31, 1985, a deadly tornado outbreak struck the Northeastern United States and Canada, causing widespread property damage and loss of life. Continue reading →

Earthquake and Underinsurance: Twin Scourges of Nepal

Reuters: Nepal Earthquake

Nepal is one of the world’s most disaster-prone countries. The recent 7.8 magnitude earthquake, which marked the worst natural disaster to hit Nepal in more than 80 years, is a strong testament to the country’s vulnerability. While the economic losses … Continue reading →

Are You Safe From Tsunamis?

tsunami

While the devastating Asian Tsunamis of 2004 and 2011 left us in no doubt of the threat in that region, people in Europe and the Caribbean generally consider themselves safe. However, according to a new Global Tsunami risk study published … Continue reading →

After Tohoku: Re-evaluating Japanese Earthquake Hazard

Japanese Hazard Map_Subduction-zones

The magnitude of the 2011 Tohoku earthquake came largely as a surprise to the seismologist community and revealed certain shortcomings in previous hazard studies. Helping to address this, in 2012 and 2013, the Headquarters for Earthquake Research Promotion (HERP) in … Continue reading →

Why Insurers and the Private Sector are Heading to the UN World Conference on Disaster Risk Reduction

Sendai Japan

In three weeks’ time, several thousand participants, from UN Member States to global corporations and science leaders, will gather in Sendai, Japan, for the third decennial United Nations World Conference on Disaster Risks Reduction to adopt a new global agreement … Continue reading →