Catastrophe Loss Models
1st August 2019
Corporate Member Risk Frontiers has released its latest Briefing Note: Using catastrophe loss models to improve decision making in disaster management.
Catastrophe loss models are decision support systems used in the insurance industry to assist in pricing risk and aggregate exposure management.
The Note says that “Risk Frontiers’ catastrophe loss models provide scientifically based damage estimates to insurable assets such as residential, commercial and industrial properties and provide users with information about possible financial losses and associated average recurrence intervals (ARIs).
Standard outputs from the financial module include exceedance probability (EP) curves (return periods) and average annual losses (AALs).”
“Risk Frontiers maintains a multi-hazard database for Australia which provides national address-based risk ratings for flood, bushfire, earthquake, severe storms, storm tide, tropical cyclones and other hazards.”
Read about Risk Frontiers’ catastrophe loss models and understanding future risk at: riskfrontiers.com/insights/briefing-notes/.