Asia Typhoon
Region-Specific Innovation in Both Hazards and Vulnerability
The Western Pacific basin is one of the most active basins in the world. It produces an average of about 28 tropical storms annually and is known for producing some of the world’s most intense tropical cyclones. The combination of economic growth and underlying risk has elevated the risk profile for these nations on the global re/insurance industry.
Recent notable events include Typhoons Hagupit (2008), Morakot (2009), Rammasun (2014), and Goni (2015), each of which resulted in more than $1 billion in damage; and Super Typhoon Haiyan (2013), which caused over $5 billion in damage, making it the worst in recent history to strike the Philippines.
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Product Features
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
Insurance Solutions
Structural Risk and Valuation
Better Residential and Commercial Values and Risk Assessment
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