According to insurers and risk modeling experts, climate change has increased the cost of natural disasters by increasing the frequency and severity of flooding and wildfires.
Tag: risk modeling
Typhoon Hagibis Insured Losses Estimated Between $8B-$16B: AIR Worldwide
Catastrophe risk modeling firm AIR Worldwide estimates that industry insured losses from Typhoon Hagibis, which made landfall in Japan on October 12, will be between JPY 865 billion (USD 8 billion) and JPY 1,730 billion (USD 16 billion), with more than half of the losses due to inland flooding. AIR Worldwide is a Verisk business.… Continue reading Typhoon Hagibis Insured Losses Estimated Between $8B-$16B: AIR Worldwide
RMS Estimates Insured Losses from Typhoon Faxai to be Between $5B-$9B
RMS, a global risk modeling and analytics firm, has estimated that the insured loss from Typhoon Faxai will be between $5.0 and $9.0 billion (¥ 500 to ¥950 billion). This estimate includes property damage and business interruption caused by typhoon wind and coastal flooding to residential, commercial, industrial, marine, and automobile lines – and includes… Continue reading RMS Estimates Insured Losses from Typhoon Faxai to be Between $5B-$9B