Selecting an Event Set

 

In the Event Set list, select the appropriate event set for the exposures you are analyzing. The event sets that are included in the list depend on the countries and perils licensed. There are three types of available licensable event sets:

         Stochastic event sets: Contain 10K, 50K, 100K, or 500K years of simulated events generated by AIR that you can use to model loss estimates for your exposures. They are designed to produce a complete and stable range of potential annual experience of catastrophe activity. The pattern and distribution of the simulated years approximate the pattern of historical and future years because their derivation is based on a scientific extrapolation of actual historical data.

         Historical event sets: Can be used to model loss estimates for historical events if they were to reoccur with your current exposures. For information on actual events contained in AIR's historical event sets, see Historical Events.

         World scenarios: Contain a set of events similar to the Realistic Disaster Scenarios (RDS) created by Lloyd's; they are used to test how individual syndicates and the market as a whole accumulate loss in extreme catastrophe scenarios. For information on actual events contained in the World Scenarios event sets, see World Scenarios Events.

         User-created custom terrorism event sets: Event sets that administrators create through the Administration Console; refer to the topic Event Set Management. If you select one of these event sets, the system automatically selects Terrorism as the only available peril. If you have administrative privileges, you can modify information about the event set by clicking next to the Event Set field.

To view event set details, click  next to the Event Set field. The Event Set Details window displays information about the author, the event set type, and the included models. For example, the Australia AP Historical (2012) event set includes model 6 (bushfire), 51 (earthquake), and 61 (cyclone). The model information includes the model version, the catalog name and version, the peril, the years, and the number of events.

In addition to licensed catalogs, the Event Set list includes real-time event sets if you have downloaded them from AIR’s ALERT web site. For information about downloading event sets, click here.

  You must have a Workers' Compensation license to analyze workers' compensation data, and you must select the appropriate event set and peril (model). Touchstone supports analysis of workers' compensation exposure data related to U.S. Terrorism (M01), U.S. Earthquake (M11), and Japan Earthquake (M52). You use the same 500K US Terrorism (2011) - Standard event set for workers' compensation exposures that you use for property exposures. When you select this event set, "Terrorism" is selected and is the only available peril.

 

 

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Touchstone V3.0 Updated December 01, 2016