Insurers and reinsurers are in the business of risk management, and one key question preoccupies their minds: “What’s the worst that can happen?” Jeremy Waite explores this question through the lens of scenario and stress tests.
Alexander Pui discusses the interaction of catastrophe modelling, under-insurance, credit ratings, and interest rates. He warns of the potential spiraling of under-insurance that could be triggered by a higher evaluation of earthquake risk in New Zealand.
As a result of the 2010 and 2011 earthquakes, significant areas of residential land in Christchurch suffered damage causing an increased risk of flooding and liquefaction. The flooding vulnerability…
The Actuaries Institute held its first Catastrophe Risk Seminar during June. The seminar was organised as an Institute effort to help the General Insurance industry in developing its understanding of catastrophe modelling and the inherent uncertainties in those models.
