Risk Modeling Part I: Overview: The global financial crisis has increased the world’s focus on risk modeling, and for some it has called the very validity of the practice into question. Common themes resonating throughout the popular press include the difficulty of modeling human behavior and the complexity of the intricate webs of financial hedging that imploded to create the current crisis.
CRESTA Zone Updates: Swiss Re and Munich Re, which are responsible for Catastrophe Risk Evaluating and Standardising Target Accumulations (CRESTA) boundaries, have recently made some major updates to the zones in a number of countries. In the Asia-Pacific region, the CRESTA boundaries for Australia, China, Japan, and New Zealand have undergone significant changes.
Risk Modeling Part II: Data: Often, the situations or events that define unacceptable risk have never occurred, or have occurred in far different environments than exist today. While models attempt to put all relevant information about a particular risk into a single picture, it is well known that they will never fully mimic human behavior — but that does not lessen their value.
Guy Carpenter to Acquire Collins: Guy Carpenter & Company, LLC, the world’s leading risk and reinsurance specialist, has agreed to acquire John B. Collins Associates, Inc. (Collins), a privately-held company and the seventh largest reinsurance intermediary in the world.
Guy Carpenter’s New Pan-CEE Flood Model: Guy Carpenter & Company, LLC, the leading global risk and reinsurance specialist, today announced that its Instrat® quantitative and risk modeling group has introduced a new Pan Central and Eastern European (CEE) flood model.
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Australian Basin Tropical Cyclone Review 2007/2008: The Australian tropical cyclone season runs from November 1 to April 30, with a peak in February and March. The 2007/2008 season showed moderately above-average activity, with a total of 12 tropical cyclones, of which five reached severe tropical cyclone strength (equivalent of U.S. hurricane strength).