Category Archives: Weather risk

Video: Counting the Cost of Sandy

Hurricane Sandy: Seaside Heights, NJ, 31 October 2012. Credit: EPA

Willis CEO and Chairman Joe Plumeri talks to CNBC about the cost of Hurricane Sandy to the insurance industry and U.S. economy. Continue reading →

Our Scariest Natural Catastrophe – Unexpected Perfect Storms

Scariest Risks

The scariest risks are the ones that sneak up on people and catch them unprepared. Continue reading →

Hurricane Sandy Will Reveal the Cost of Poor Supply Chain Management

Satellite photo of Hurricane Sandy on October 29, 2012. CREDIT: NOAA/ NRL Monterey Marine Meteorology Division

Once the full extent of the damage from Sandy is analysed, I have no doubt we will see large business interruption (BI) losses and again we will see many cases of inadequate and ineffective supplier coverage. Continue reading →

Hurricane Sandy Likely to Trigger a Significant Volume of Commercial Property Claims

Hurricane Sandy - Oct 28 (satellite view) PHOTO CREDIT: NASA

Hurricane Sandy, a storm that forecasters say is on a scale with little precedent on the East Coast, is likely to trigger a significant volume of commercial property claims, according to experts in our claims practice.  “Given the size of … Continue reading →

One Year Later, Thai Floods Still Teach us Supply-Chain Lessons

Helicopter survey of flooding in suburban Greater Bangkok during the 2011 Thai Floods

At an estimated US$ 15 billion of insurable losses, the 2011 Thai floods are likely to rank as one of the most costly natural catastrophes. Unlike other nat cat events, a significant portion of these insurance claims are related to losses suffered far from Thailand, by companies that outsourced their supply chains to this low-cost manufacturing centre. Continue reading →

Using Geo-Spatial Data to Model Flood Risk (and More…)

Flooded Street (red sign)

With UK homes and business suffering from another round of summer floods government advisors say we can expect more of the same over the next 20 years if climate change predictions are accurate. Continue reading →

Understanding Catastrophes

Cost of Hurricane Katrina

Recent natural and man-made catastrophes are mandating that business recalibrate risk. This is because ‘worst cases’ are being exceeded all around us. Continue reading →