Do You Know Your European Extratropical Cyclone Risk?

With European windstorm losses on average surpassing those of any other peril in the region, companies need to be prepared for the unexpected. The AIR Extratropical Cyclone Model for Europe realistically simulates these costly winter storms and the damage they cause so that you can manage extratropical cyclone risk for underwriting, pricing, portfolio management, and risk transfer decisions.

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Account for your UK Storm Surge Risk

The updated AIR Extratropical Cyclone Model for Europe now includes the updated storm surge components for England and Wales, including detailed coastal sea defenses such as levees and seawalls as well as their standards of protection. Using the updated model, clients are now able to realistically account for extratropical cyclones and their associated storm surge effects with today’s flood defenses.

Learn about Managing Storm Surge Risk in Great Britain

Support effective underwriting decisions across your entire portfolio

Use AIR’s Extratropical Cyclone Model for Europe to obtain a more comprehensive view of your windstorm risk with model coverage of 22 countries—and improve your risk management decisions. Explore winter storm scenarios by analyzing the impact of a wide range of historical events, a year-round catalog and Extreme Disaster Scenarios (EDS) on your present-day exposures.

Read about Winter Storm Kyrill

Explicitly capture regional variations in vulnerability

To help differentiate your European extratropical cyclone risk across countries, the AIR model explicitly accounts for not only local primary building features at the CRESTA level—such as construction type, occupancy, year built—but also many lines of business, including residential, commercial, small industrial, large industrial, agricultural (including greenhouses), automobile (including dealerships), marine (cargo and hull), wind turbines, and forestry. If risk attributes are unknown, you can use AIR's detailed industry exposure database (IED) to make appropriate assumptions.

Read about the start of Europe’s 2018 Extratropical Cyclone Season

Protect your bottom line by accounting for the real-world behavior of extratropical cyclone clustering

One of the distinctive features of European extratropical cyclones is that they have a tendency to arrive in clusters with one storm closely following another—this can have significant insurance and reinsurance implications. The AIR Extratropical Cyclone Model for Europe makes use of adaptive clustering to group windstorms that occur close together in space and time to reflect the real-world behavior of these storms. Prepare for both large loss events and the accumulation of multiple hits to the bottom line in a single season.

Learn how to quantify the impact of the hours clause through modeling

Have confidence in your European windstorm results

AIR researchers incorporated substantial amounts of claims data for a range of historical storms across multiple countries in the development and validation of the model, as well as detailed industry loss data from insurance associations from Germany, Austria, Switzerland, France, and other sources, to ensure model results reflect actual loss experience.

Discover AIR’s Extratropical Cyclone models

Address Solvency II requirements and get information on model validation

AIR’s support provides you with a deep understanding of model assumptions, limitations, and validation to help you address Solvency II requirements.

Learn how

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