Significant storm claims across the UK are likely early next week based on weather forecasts combined with Business Insight’s perils computer model ‘Storm Insight’.
The Storm Insight model considers the variation in peak wind gusting across the UK together with factors such as topography, urban density, the local built environment and the likely state of repair of buildings to predict annualised loss estimates right down to individual property level.
Storm Insight is an unrivalled and powerful probabilistic model giving and invaluable perspective into the distribution of storm risk across the UK. The impact of climate change is likely to result in future storm losses increasing so it is more important than ever for insurers to fully understand risk as they write business in new areas.
Read press release here: Press Release – Significant losses likely based on forecast Storm due to hit UK this Monday