The insurance industry has used natural catastrophe models for about 20 years and we have underwritten natural catastrophe risks for much longer. Yet, our knowledge is still far from perfect. Consider these questions:
* How do we ensure that underwriters have a full picture of perils at a location, including flood, storm surge, tsunami, liquefaction?
* How can we improve the quality of exposure information?
* How detailed should it be?
* As underwriters of BI and CBI covers, what do we need to know about the interaction of interdependent systems such as transportation systems, electricity grid and manufacturing?
* How do we underwrite in areas and for perils where there is no model?
I am looking forward to discuss these and more nat cat modeling questions next week with our Scandinavian clients at NORIS. See you in Reykjavik!
Category: Climate/natural disasters
Location: Reykjavik, Capital Region, Iceland