March 2014 webinar: Typhoons – Looking in the eye of the storm? – What we have learned from 2012 & 2013 events
Both Typhoon Haiyan and Hurricane Sandy which struck the Philippines and the USA in November 2013 and October 2012, respectively, reminded the world of how complex these systems are, how they can be different from common understanding and how they substantially alter the risk perception in affected regions.
Typhoon Haiyan affected 10 million people and caused an unfathomable amount of casualties. It sustained super typhoon status (wind speeds of 149 mph or greater) for 48 hours. A devastating surge accompanied the storm. Though estimates are uncertain, it is reported that some places saw a surge of 17 ft (~5 m), while numerous other areas in the central Philippines experienced a surge of 10-15 ft (3-5 m).
Hurricane Sandy was a tremendously large system (~700 miles) in diameter with quite a low pressure (940 mbar), and brought not only hurricane strength winds, storm-surge floods and very intense rain, but also unusual consequences which affected major cities from Boston, New York, Philadelphia, Baltimore and Washington DC. It caused coastal flooding from North Carolina to Massachusetts and topped over USD 25bn in insured damages, unprecedented for an event of category 1 strength.
Such unusual events raise many questions about how well we understand and can model these phenomena. As an industry, studying these help us gain a fresher perspective of the risk.
This webinar is targeted at underwriters and risk managers who deal with Nat Cat risks.
- The science of cyclones, sub peril effects - rain/storm surges and how they continue to affect the insurance community and sometimes take it by surprise
- The impact such events have on the insurance business
- The tools we can use to better understand and manage such scenarios
- The potential future scenarios we can anticipate and should be prepared for
- Presentation – 45 mins
- Question and answers – 15 mins
Gabor Jaimes, M.Sc, EMBA, CCRA
Head of Property Product Management Asia-Pacific
Swiss Reinsurance Company
Vineet Kumar, Ph.D.
Head Cat Perils Asia Hub, Senior Vice President
Swiss Re Shared Services (India) Private Ltd.
Wednesday, 12 March 2014
2 - 3 p.m. Hong Kong time
If you are interested in attending this webinar, please contact your Client Manager.
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