Correlation of flood events poses risks
Wednesday, 10 26 2016, Category: Nature, Country: Europe
Reinsurers and bigger insurers should invest in ensuring they have a better understanding of the inter-country correlation of flood events as some are unintuitive and have the potential to cause significant losses, Jane Toothill, director of JBA Risk Management, told Baden-Baden Today.
JBA, a flood modelling specialist, has mapped the flood risk in 12 countries: France, Germany, Belgium, Luxembourg, Liechtenstein, Austria, Switzerland, Poland, the Czech Republic, Hungary, Slovakia and Slovenia. In June, JBA released a probabilistic model assessing the correlations between river flooding severity in different river systems in Europe.
Source: Intelligent Insurer