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A Study of Major Hurricanes and Subsequent Market Response

A Study of Major Hurricanes and Subsequent Market Response Working Party aims to address educated and inform actuaries on the nature and predictability of hurricanes and how they can cause insured loss in different classes of business. The working party will also discuss how the market is responding to hurricanes through product innovation, reserving, cat modelling and pricing.

Key objectives:

  • To explain in layman’s (or actuarial) terms the science behind hurricane formation and impact (shortest part)
  • To understand the history of hurricanes and how they have shaped the landscape of (re)insurance markets through a series of case studies
  • Discuss the current state of the market, conditions affecting market response and looking to influence how markets react post-event or after a run of clean years
  • Produce a paper outlining a) the basic science behind hurricanes and their drivers (including seasonal and multi-annual impacts), b) case studies on major hurricane years including loss estimation and how the market responded and c) an actuarial perspective on how well the market is responding to these events

News 

Hurricane Clustering in the North Atlantic: A Discussion
Lloyd’s Library
Thursday, November 29 from 3 – 5pm
Followed by Networking Reception
An ISCM/IFoA Event Hosted by Lloyd’s

The 2017 and 2018 hurricane seasons have again focussed the attention of the catastrophe risk management and insurance community on the topic of hurricane clustering in the North Atlantic. Have the most recent hurricane seasons caused us to update our view of clustering as a meteorological occurrence, and if so, in what ways?

Please join us in the Lloyd’s Library on Thursday, November 29, for a presentation and panel discussion by leading industry experts from AIR, Corelogic and RMS, researchers from Bank of England, and SCOR on this important topic. During the two-hour session, we will hear the latest research and views on the existence of clustering and its interannual variability, the relevance of climate change, its impact on aggregate industry losses, and the extent to which clustering could and/or should be included in modelled views of risk.
 

The discussion will be followed by a drinks reception at One Under Lime.
 

Please register your interest for the event:
 

Register or email Emma.Watkins@lloyds.com
 

We look forward to seeing you in November.

Chair Adhiraj Maitra
Membership 11
Established 2018

Related documents

Contact Details

If you want more information about this research working party please contact the Communities Team.

professional.communities@actuaries.org.uk

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