Risk Assessment, Rapporteur’s Report

This chapter provides an overview of tropical cyclone risk assessment. The discussion is framed to a large extent by the modeling approaches used in catastrophe risk models (cat models) produced by commercial risk modeling companies. Therefore the material in the following sections describes the variety of hazards associated with tropical cyclones and how the hazards are characterized, discusses the vulnerability functions that are used to estimate the damage and loss caused by the hazard, reviews the data available for developing and using the model, and summarizes the different risk models used by the public and private sectors. The chapter ends with a set of recommendations for improving tropical cyclone risk assessment.

Murnane R. J., J. Kleinn, K. Nishijima, P. Vickery, S. Vijayaraghavan, Risk Assessment, Rapporteur’s Report Topic 4.1, 2010.