EGU23-13295, updated on 24 Mar 2023
https://doi.org/10.5194/egusphere-egu23-13295
EGU General Assembly 2023
© Author(s) 2023. This work is distributed under the Creative Commons Attribution 4.0 License.
An industry framework to estimate changes in hurricanes wind risk due to climate change
- AXA, GRM, Paris, France (mathis.joffrain@axa.com)
Since the early 90s, natural catastrophe models have been mainly used by the re/insurance industry for pricing and risk management purposes.
These rely on a catalogue of plausible yet so far unseen events called the “stochastic events catalogue”. For each of these events a loss and a frequency is calculated leading to an industry standard output called YLT (Year Loss Table).
Based on the YLT, insurers can calculate a wide range of risk measures such as the Value at Risk or the annual average loss. They also can modify the YLT to incorporate impacts by Climate Change.
This poster sets out to:
(i) Explain the concept of Year Loss Table (YLT)
(ii) Show the derivation of key risk measures.
(iii) Describe how the YLT can be modified to take into account the impacts by climate change, with a focus on the North Atlantic hurricane wind risk.
(iv) Present the results obtained by the approach in (iv).
How to cite: Joffrain, M.: An industry framework to estimate changes in hurricanes wind risk due to climate change, EGU General Assembly 2023, Vienna, Austria, 24–28 Apr 2023, EGU23-13295, https://doi.org/10.5194/egusphere-egu23-13295, 2023.
