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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

Survey

The 'A Study of Major Hurricanes and Subsequent Market Response' Working Party invites you to complete a survey to help them build an understanding of US hurricanes and the historical market response. Further details can be found here.

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.

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

 

Other outputs

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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Events calendar

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  • India Town Hall

    Webinar
    28 January 2021

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    IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual India Town Hall 2021, hosted by John Taylor with IFoA Council Member Mahidhara Davangere and IFoA Chief Executive, Stephen Mann. 

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    What are the options for the world economy looking ahead?

    In this Thought Leadership Lecture, Economist, Vicky Pryce, will be discussing world economic trends, including the differences in geographical performance and how output is recovering and where.

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    Trust and Leadership for Actuaries

    Led by Dr. Jim Baxter, University of Leeds, this webinar introduces some key ideas in the ethics of trust, with a particular focus on those in, or on the path to, leadership roles. Dr Baxter is joined by a panel of experienced leaders who will give their personal perspectives on how they understand the value of trust and how they seek to promote and inspire trust, drawing on their experiences of leadership. The panel includes:

  • Health and Care Hot Topics webinar

    Online webinar
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    In this webinar, we have two presentations showing the latest research on the implications for life and health insurers of two key issues: genomics and pandemic risk.

    Dr Peter Joshi and Paul Timmers will share their research on how well-established underwriting processes can allow for genomics in predicting expected mortality and morbidity. They will then discuss the potential for stratified screening and personalised medicine to improve health and reduce claim costs.

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    As the world’s attention begins to turn to COP26 later this year in Glasgow, Sarah Gordon (Chief Executive, Impact Investing Institute) will share her vision for how the financial services industry can deliver for people and the planet, as well as how to encourage more investment with the intention to generate positive, measurable social and environmental impact alongside a financial return.

  • Sub-Saharan Africa Town Hall

    26 February 2021

    Spaces available

    IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual SSA Town Hall 2021, hosted by John Taylor with IFoA Council Members Mukami Njeru, Prosper Matiashe and IFoA Chief Executive, Stephen Mann.

  • MENAP Town Hall

    2 March 2021

    Spaces available

    IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual MENAP Town Hall 2021, hosted by John Taylor and IFoA Chief Executive, Stephen Mann.