28 Tropical Storms Annually
The Western Pacific Basin is one of the most active basins in the world. It produces an average of 28 tropical storms per year and is known for brewing some of the world’s most intense tropical cyclones.
Recent notable events in the region include Typhoons Goni (2015), Rammsun (2014), Morakot (2009), and Hagupit (2008)—each of which dealt over $1 billion in damage. And then, of course, in 2013 Super Typhoon Haiyan toppled those records to cause over $5 billion in damage alone, making it the worst in recent history to strike the Philippines.
The nations in this space from Japan to Malaysia and everything in between host a great amount of economic growth, but the underlying risk has elevated the profiles for these nations in the global re/insurance industry.
Weather the Storm
The Asia Typhoon Model is part of the Catastrophe Risk Management suite of products by CoreLogic®--and provides a granular, realistic assessment of catastrophes so you can be prepared in the event disaster strikes.
With broad geographic coverage, robust hazard definition, comprehensive agents of damage, and local vulnerability functions, the Asia Typhoon Model is able to provide a detailed and comprehensive solution to managing risk.
Broad Geographic Coverage
- Geographic coverage includes: Japan, South Korea (ROK), China (PRC), including Hong Kong and Macau, Taiwan (ROC), the Philippines, Thailand, Vietnam and Malaysia
- Consistent risk assessment throughout the region and appropriately captures the relevant spatial correlations
Comprehensive Agents of Damage
Primary agents of damage from tropical cyclones worldwide are the direct action of extreme winds upon structures, damage due to storm surge, and rainfall-induced flooding. This model allows analysis of:
- Wind only
- Storm surge and rain-fall induced flooding
- And combined damage – wind, storm surge and rainfall induced flooding
Flexible Reporting Hierarchy
This model is suitable for:
- Risk differentiation and pricing
- Risk aggregation
- Portfolio risk management
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