Weather the Storm
In 1990, Daria, the most damaging storm of the last few decades, causing €11 billion euros in losses, was just one of five severe, billion-euro loss storms affecting western and central Europe in just five consecutive weeks. All together, it totaled €20 billion euros in losses and took hundreds of lives.
Multiple billion-euro insurance loses, spread over several countries and accumulated quickly are frequently outcomes of severe windstorms passing through Europe, posing the prime risk for the European insurance industry.
The CoreLogic® Eurowind™ Model covers 24 European countries and is comprehensively simulating extreme conditions just like these historic catastrophes—allowing insurers to manage their exposure to these weather phenomena better.
A Pioneer in Modeling
In 2008, CoreLogic pioneered the use of the global Atmosphere-Ocean-General-Circulation Model, taking into account long, continuous simulations of past, present and future storm activity affecting properties worldwide. This supplanted the classic expert opinion regarding probable maximum storm scenarios.
To this day, we have continued to innovate, allying ourselves with renowned universities such as the Free University of Berlin and the University of Birmingham to stay at the forefront of modeling precision. CoreLogic persists in pushing the boundaries of what’s possible, seeking to provide the most up-to-date, applied catastrophe modeling solutions.
North Europe Offshore & North Atlantic Oscillation
A new North Europe Offshore (NEO) component also has expanded capability to model wind turbine risk in the North Sea, Irish Sea, Baltic, and Eastern Atlantic. Additionally, based on the Eurowind Model, the North Atlantic Oscillation (NAO) Model presents a unique view of risk, allowing for a better understanding of the sensitivity of the Eurowind model in association with drastic changes in conditions.
For the wind peril, Eurowind covers 24 countries across Europe: Austria, Belgium, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Hungary, Ireland, Latvia, Lithuania, Luxembourg, Monaco, the Netherlands, Norway, Portugal, Spain, Romania, Slovakia, Poland, Sweden, Switzerland and the U.K.
- Based on measured wind speed data from 4,000 European meteorological stations
- Determines realistic wind hazards for each site location
Storm Surge Hazard:
- Available for the U.K., France, and Sweden
- Combining wind speeds and direction with astronomical tide, mean sea level conditions, and coastal defense to generate inundation probabilities
Structural Risk and Valuations
Rather than rely on a standard industry percentage, get detailed intelligence on the structural risk and value of properties in your portfolio to ensure that your clients are not over or under-insured.learn more
Natural Hazard and Catastrophe
Assess your market position by accessing reports and data that give you a complete view of the risk to your portfolio.learn more
Roof Condition Solutions
CoreLogic offers tools to help you assess the roof conditions of prospective clients from your desktop.learn more