Home›Insurance›Reinsurance›Juniper Re licenses KatRisk severe storm and wildfire…

Juniper Re licenses KatRisk severe storm and wildfire models

The partnership adds probabilistic hail, tornado, straight-line wind, and wildfire simulations to Juniper Re’s existing KatRisk flood modelling.

Reported · Written up by our desk · Reinsurance

Specialist reinsurance broker Juniper Re has licensed KatRisk’s severe convective storm and wildfire catastrophe models, expanding its toolkit for assessing and managing risk for two perils that remain difficult to model in the insurance market, according to Reinsurance News.

Juniper Re will use KatRisk’s Severe Convective Storm Model, which provides a probabilistic view of hail, tornado and straight-line wind risk for both individual locations and portfolios.

The firm will also use KatRisk’s Wildfire Model, developed with Technosylva, which simulates fire ignition and spread, insured losses, smoke impacts, and urban conflagration as fires move into developed areas.

Reinsurance News said the new agreement builds on Juniper Re’s existing use of KatRisk flood modelling capabilities, and expands the relationship into severe convective storm and wildfire.

More like this

Sources