In 2018 and 2019, four powerful typhoons struck Japan, incurring total insured losses of more than USD 30 billion from wind and flood damage. While Japan is no stranger to damaging storms, the back-to-back losses prompted questions about whether catastrophe models are realistically capturing the risk and what role climate change is playing in driving losses.
As is the case after any major storm or severe storm season, AIR Worldwide evaluated our AIR Typhoon Model for Japan in light of new meteorological, damage, and claims data. Our new white paper examines the recent storms and puts their losses into the context of Japan’s longer history of typhoon activity and previews updates to the AIR Typhoon Model for Japan (anticipated for release summer 2021), particularly those to the industry exposure database and damage functions.
Download the white paper “Managing Japan Typhoon Risk After the 2018 and 2019 Seasons”
