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Mangrove Tsunami Protection
Every year, it seems like another historic natural disaster devastates a region of the world. We chastise poor planning efforts and champion better response as we try to think of new mitigation...
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Experts Forceast Mild Hurricane Season for 2012
Two climate researchers at Colorado State University’s department of atmospheric science have become the go-to prognosticators for the Atlantic hurricane season, which lasts from June 1 to November...
View ArticleThe Catastrophe of Dumbing Down Catastrophe Models
The use of catastrophe models has, over the last 20 years, become the norm for disaster risk management. Although some cat models existed earlier, it was in 1992 after Hurricane Andrew that the...
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The Organizational Barriers to Preventing Catastrophes
(Photo: Ververidis Vasilis / Shutterstock.com) Recent catastrophes such as the Fukishima Daiichi Nuclear Power Plant crisis, the Costa Concordia cruiseliner crash and the BP Macondo oil well explosion...
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Cultural Barriers to Earthquake Preparedness
(AP photo/Kyodo News) Most people living in seismic zones the world over do little to prepare themselves for earthquakes. This may seem like a contradiction in terms. After all, what can one do in the...
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Disaster Unpreparedness
After 2011, one of the worst natural catastrophe years to ever hit the insurance industry, companies should now be aware of the disaster risk they face and make disaster mitigation one of their top...
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Managing the Risks of Weather
When it comes to Mother Nature, catastrophes such as hurricanes, earthquakes, tornados and floods usually get all the attention. And with good reason. From 2000-2011 catastrophes have produced more...
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Disaster Risk “Cold Spots” Appearing in Emerging Markets
Opportunities are abundant in emerging economies, but untapped markets may also present uncharted challenges. These risks pose a unique set of struggles to insurers and reinsurers alike, according to...
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Using Mobile Apps in Disasters
Mobile apps are becoming vital resources during disasters—and for good reason. “People are stressed out, scared and seeking information,” said Wendy Harman of the American Red Cross. Her organization,...
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Award-Winning Research Is Helping Insurers Better Understand Flood Risk
As we saw with Thailand’s monsoon-season deluge and the destructive waters sent ashore by Hurricane Sandy, floods are one of the most catastrophic natural disasters. But by analyzing the science...
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Should Floridians Expect a Hurricane in 2013?
From 1950 to 2011, Florida was hit by 12 major hurricanes (Category 3 or higher). Though it has been spared—even by smaller storms—since 2005, some believe this means the state is due for another blow....
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No Trends in Tornadoes
Average annual number of tornadoes reported by state; the darker the color, the more twisters. (Click for larger map) There is a somewhat ridiculous premise underlying American football that nobody...
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Forecast Uncertain
In early 2011, catastrophe modeling company Risk Management Solutions (RMS) released an update of its U.S. Atlantic hurricane model. Dubbed RMS version 11, the model would prove to be highly...
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Do You Have a Superstorm Sandy Claim?
Time is running out for businesses to assess whether or not they may have a contingent business interruption claim from Superstorm Sandy. Superstorm Sandy struck the Northeast United States more than...
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Wildfires Burn a Trail for Insurers
More than 1.2 million residential properties in the Western United States are currently located in “High” or “Very High” wildfire-risk categories, and are valued at more than $189 billion, according...
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The Risk Forecast
Insurers have the bills to prove that damages from weather-related natural catastrophes are rising rapidly. But weather does not have to be extreme in order to have a negative impact on cash...
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Are you Ready for the Hurricane?
We’ve just gotten through one of the harshest winters on record. Time to relax? Not with hurricane season ahead. The prognosis for the 2014 Atlantic hurricane season is similar to last year’s results....
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Beware of Lightning Season
In 2013, 23 deaths were caused by lightning in the United States, according to the National Oceanic and Atmospheric Administration (NOAA). The Insurance Information Institute (III) also reported that...
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To Insure or Not To Insure
Economic loss estimates from the Aug. 24 earthquake in Napa County, California, have climbed to $4 billion so far. Insured losses were originally estimated up to $1 billion, but are now at $250...
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P/C Market Softening Expected for 2015
Due to ongoing price reductions and a lack of major catastrophes, insureds should have many options for coverage in 2015, according to the Willis report, “Marketplace Realities 2015.” With the...
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