Observations and reanalysis data used for reinsurance

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Tuesday, 4 February 2014: 8:30 AM
Room C114 (The Georgia World Congress Center )
Steve E. Smith, Beach Re, New York, NY; and D. C. Wright

Insurers and reinsurers are exposed to catastrophic weather risk. Most re/insurers use third party catastrophe models to evaluate their risk but these models do not capture all of the weather risks re/insurers might be exposed to. We present two case studies of the use of weather data to examine a re/insurers catastrophic risk: 1) Rainfall observations in Australia for catastrophic flooding, and, 2) High resolution reanalysis data for combined perils (tropical cyclones, severe thunderstorms, winter storms, flooding and freeze events) in the US Northeast.