1 / 9

Earth Observation and Global Change

Earth Observation and Global Change. April 22, 2008 AMS Public Private Partnership Forum Frank Nutter Reinsurance Association of America. Catastrophic Losses: An Insurance Perspective. 2005 – $103 B 2004 – $ 45 B Of 20 most costly – 18 since 1990 1/3 of total insured risk is “cat” risk

serina-shepard
Télécharger la présentation

Earth Observation and Global Change

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Earth Observation and Global Change April 22, 2008 AMS Public Private Partnership Forum Frank Nutter Reinsurance Association of America

  2. Catastrophic Losses: An Insurance Perspective • 2005 – $103 B • 2004 – $ 45 B • Of 20 most costly – 18 since 1990 • 1/3 of total insured risk is “cat” risk • NFIP • Black Swans?

  3. Attribution of Losses • Urbanization • Values at Risk • Population Shift • Weather / Climate

  4. Assessing Risk • RMS • AIR • EQE

  5. Hierarchy of Perils • US Hurricane • California Earthquake • European Wind • Japanese Earthquake • Japan Typhoon • Tornado/Hail • Floods • Storm Surge • Coastal Flooding • Inland Flooding • Tsunami • Fire Following Earthquake Peak Off Peak Secondary

  6. An Insurer’s “Cat” Strategy • Quantification of Risk • Pricing Risk • Hedging

  7. A Progressive (Re)insurer’s Strategy • Assess client climate exposure • Sell catastrophic reinsurance • Provide risk transfer products • Capital markets products • Weather derivatives • Investment in alternative energy • Carbon trading and guarantees • Footprint • Employee incentives

  8. Research Needs • Extend the historical record • Land fall probabilities with wind speed • Storm tracks • Correlations, if any, between regions • Extremes and outliers • Hurricane power/size • Sea level rise and storm surge • Potential for abrupt events

  9. www.reinsurance.org

More Related