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Howden Re launches UNREST tool to model SRCC civil unrest risk
The UNREST platform is designed to improve property-level underwriting and reinsurance decisions as civil commotion losses rise and SRCC events are shaped by political and urban factors.
Howden Re, the reinsurance arm of insurance broker Howden, is partnering with Synthetik Insurance Technologies to launch an analytical tool aimed at helping insurers and reinsurers assess strikes, riots and civil commotion, known as SRCC, risk.
The product, called UNREST, uses property-level analytics and dynamic event simulation to quantify exposure and generate potential loss scenarios. Howden Re said the tool is meant to support underwriting, portfolio management and reinsurance decision-making by identifying risk concentrations and evaluating accumulation potential across portfolios.
Howden Re said insured losses from civil unrest events have risen sharply in recent years, while it believes available analytical tools have not kept pace. Unlike natural catastrophe perils, it said SRCC events do not follow consistent historical patterns because they are influenced by political dynamics, urban geography and how quickly social mobilization spreads.
In a statement, Howden Re highlighted that UNREST is designed to quantify existing market event definitions for SRCC, including how variations in the radii or hour clauses in current occurrence wordings can affect potential loss quantum. The Howden Re Marine, Energy and Terror team is also undergoing model enhancements, with managing director Andrew Foot calling the tool a new standard for assessing and managing SRCC risk.