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Layering Structure in Cat Modeling context- In catastrophe modeling, layering refers to a technique used to distribute financial losses from a catastrophe event across different insurance policies or reinsurance treaties. Imagine a tiered cake, where each layer represents a specific amount of loss. ? Lower layers typically represent smaller, more frequent events. ? Higher layers represent larger, less frequent events. Here's how it works: ? Policy Attachment Point & Exhaustion Point: Each layer has an attachment point, which is the level of loss at which the layer starts to absorb costs. It also has an exhaustion point, which is the level at which the layer is depleted and the next layer takes over. ? Distributing Losses: When a modeled catastrophe event occurs and the total loss falls within a specific layer, the insurers or reinsurers participating in that layer share the financial burden according to their pre-defined participation percentage. Layering allows for a more manageable distribution of risk and helps to ensure that no single insurer or reinsurer is overwhelmed by a large catastrophe loss. . #insurance #propertyinsurance #reinsurance #AAL #catastrophe #catmodeling #learning #riskmanagement #riskanalysis #commercialinsurance #stats #statistics #datamodeling #analytics #dataanalytics #catastropherisk #CatRisk #finance #ratio #lesson #learn #info

Miller's Catastrophe Analytics team uses market-leading and advanced modelling techniques to analyse potential insurance or reinsurance property losses from global natural perils and human-induced risks. ? Watch our latest informative video to learn how Miller's CAT Analytics team can help deliver more tailored and bespoke (re)insurance solutions for our clients. ? For further information, please reach out to the team here: [email protected], or contact Melissa Holland. Click here to watch -> https://bit.ly/3ZQNhUh #catanalytics #catastrophemodelling #insurance #reinsurance

Miller Insurance Services LLP capability to support clients with Catastrophe Modelling means that we can add real value to both the insured organisation and the insurance markets. Understanding a portfolios current and future exposure to storm and flood helps all make more informed decisions when considering their risk transfer strategy. #flood #propertyinsurance #socialhousing

The devastating impacts of Hurricanes Helene and Milton have shown us that nowhere is immune to the consequences of climate change. As extreme weather events intensify, insurance companies are looking to the future to better identify risks and balance exposure. At Jupiter Intelligence, we're equipping forward-thinking insurers to seamlessly integrate climate risk analytics into their core operations. Industry leaders like Aon, Liberty Mutual Insurance, and MS&AD Insurance Group are already leveraging our data to: - Enhance risk engineering - Improve portfolio planning - Optimize investment management - Streamline regulatory compliance - Refine underwriting and pricing With Jupiter's global, forward-looking climate analytics, insurers can quantify and manage physical climate risks across their portfolios - from individual properties to entire regions. Don't wait for the next disaster to strike. Prepare your business for the climate realities of tomorrow, today. Discover how Jupiter is helping insurers build resilience: https://lnkd.in/gDUp7zdY #ClimateRisk #Insurance #Resilience #ExtremeWeather #JupiterIntelligence

“Halfway through 2024, the U.S. has already observed 15 separate billion-dollar weather and climate disasters. In 2023, the U.S. experienced a record 28 separate billion-dollar weather and climate disasters, totalling nearly $95 billion.” NOAA: National Oceanic & Atmospheric Administration’s data & expertise + informed risk assessment=better decisionmaking in a changing climate.

It’s a common story in insurance. We have a model generated using past data, telling us how often to expect a certain event. Then, a very high return period loss happens the following year. How do we respond to that? asks Erica Thompson, author of Escape from Model Land. https://ow.ly/55Hp50Rjegv Nobody cares how good your model is at predicting last year’s events or past data; the bottom line is that we have to develop some level of confidence about its ability to predict or any future data. We want to assess future risk but because the future hasn’t happened yet, our only way of accessing knowledge about the future is by making models. Contact Cameron Rye or Jessica Boyd of #WTWResearchNetwork if you'd like to discuss more or meet them and Erica at the Oasis Loss Modelling Framework Ltd. conference on 24 & 25 April 2024. #Modeling #NaturalCatastrophe #NatCat #RiskManagement #SmarterWaytoRisk

Cat Bonds Are Having a Moment! LinkedIn fam, happy Election day to all Ever heard of catastrophe bonds? They're basically a way for insurance companies to transfer risk to investors, and things are getting WILD in that market right now. We're talking record-breaking levels of issuance in 2024! Just for "144A property cat bonds" (the most common type), we've already seen almost $12.8 BILLION issued. That's the second-highest amount EVER. Think of it like... the Super Bowl for insurance nerds. Why should you care? Well, it shows how important these things are becoming for managing risk in a crazy world (hello, climate change). Plus, it's kinda cool to see how much money is flowing into this market. Maybe there's a slice of the pie for you? Want to explore the numbers yourself? Steve Evans from Artemis.bm has some awesome interactive charts where you can see all the trends and filter by different categories. They even have a full-screen mode so you can nerd out to the max! Seriously, these charts are ?? Check it out and let me know what you think, are you as surprised by this as I am? #catbonds #ILS #insurance #riskmanagement

Don't miss the last video in this educational series on catastrophe model evaluation! Once again Tricia Akers provides a simple breakdown of factors to consider as you evaluate your risks. And be sure to check out Lockton's page if you missed any of the prior videos.

#InsuranceNation #propertyandcasualty #insurancenews #independentagency The latest Best’s Special Report indicates that in addition to catastrophe risk, secondary perils continue to reshape geographic risk, with companies writing business in six states or less accounting for 60 percent of rating downgrades in 2023.

Catastrophe loss (CAT) modelling has been a staple in the insurance industry for decades. These models are used to underpin billions of dollars of reinsurance transactions each year. However, up until recently, CAT models have been confined to the world of (re)insurance. I spoke to ANZIIF about recent trends in CAT modelling, and how the emergence of both AI and climate as a financial risk, have opened up the world of CAT modelling to other sectors now wanting to understand the impact of both present day and future climate on their business. If you want to know more about how CAT models can help you understand climate as a credit, capital or pricing risk, and what risk transfer or resilience options may be most effective to mitigate this risk, feel free to get in touch for a chat! #climate #catastrophemodelling