Risk Modeling for Hazards and Disastersa covers all major aspects of catastrophe risk modeling, from hazards through to financial analysis. It explores relevant new science in risk modeling, indirect losses, assessment of impact and consequences to insurance losses, and current changes in risk modeling practice, along with case studies. It also provides further insight into the shortcomings of current models and examines model risk and ideas to diversify risk assessment. Risk Modeling for Hazards and Disasters instructs readers on how to assess, price and then hedge the losses from natural and manmade catastrophes. This book reviews current model development and science and explains recent changes in the catastrophe modeling space, including new initiatives covering uncertainty and big data in the assessment of risk for insurance pricing and portfolio management. Edited by a leading expert in both hazards and risk, this book is authored by a global panel including major modeling vendors, modeling consulting firms, and well-known catastrophe modeling scientists.a Risk Modeling for Hazards and Disastersa provides important insight into how models are used to price and manage risk.Includes high profile case studies such as the Newcastle earthquake, Hurricane Andrew and Hurricane KatrinaProvides crucial information on new ideas and platforms that will help address the new demands for risk management and catastrophe risk reportingPresents the theory and practice needed to know how models are created and what is and what is not important in the modeling processCovers relevant new science in risk modeling, indirect losses, assessment of impact and consequences to insurance losses, and current changes in risk modeling practice, along with case studies
