Risk Modeling For Hazards And Disasters

Paperback | September 1, 2017

byGero Michel

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Risk Modeling for Hazards and Disasters opens with an introduction to insurance risk modeling data and modeling concepts and then moves on to review innovative ideas from the most well-known vendor firms. It covers relevant new science in risk modeling, indirect losses, assessment of impact and consequences to insurance losses and discusses current changes in risk modeling practice along with case studies. The final chapter provides further insight into the shortcomings of current models, and examines model risk and ideas to diversify risk assessment touched. This book reviews current model development and science as well as explaining recent changes in the cat modeling space, including new model platforms as well as new ideas covering uncertainty and "Big data" in the assessment of risk for insurance pricing and portfolio management. Edited by an expert in both hazards and risk and authored by a global panel including major modeling vendors, modeling consulting firms, well-known catastrophe modeling scientists, Risk Modeling for Hazards and Disasters provides important insight into how models are used to price and manage risk. Includes high profile case studies such as the Newcastle earthquake, Hurricane Andrew and Hurricane Katrina Provides crucial information on new ideas and platforms that will help address the new demands for risk management and catastrophe risk reporting Presents the theory and practice needed to know how models are created and what is and what is not important in the modeling process

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Risk Modeling for Hazards and Disasters opens with an introduction to insurance risk modeling data and modeling concepts and then moves on to review innovative ideas from the most well-known vendor firms. It covers relevant new science in risk modeling, indirect losses, assessment of impact and consequences to insurance losses and disc...

Dr. Michel is Senior Vice President, Head of Risk Analytics of Montpelier Re. Dr. Michel joined the Montpelier Group in July 2012 in order to head up risk analytics, a task that involves innovations in risk management, underwriting strategy, as well as the Montpelier Group's own view of risk and risk modelling and liaison with external...
Format:PaperbackDimensions:324 pages, 8.75 × 6.35 × 0.68 inPublished:September 1, 2017Publisher:Elsevier ScienceLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0128040718

ISBN - 13:9780128040713

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Table of Contents

1. General Concept/Need for Catastrophe Risk Modeling, Insurance, Reinsurance
2. Historical Losses & Exposure
3. Model Creation Hazard, Vulnerability, Financial Model, and New Model Platforms
4. Innovation, New Model Platforms Model Risk and Inefficiencies
5. Model Use-cases; portfolio risk management and Underwriting with catastrophe models etc.
6. Future of Catastrophe Modeling for insurance and reinsurance