European winter storm clusters tackled by RPI

Zurich was the site of a joint workshop on the issues surrounding the impacts of winter storms in Europe, held between the Risk Prediction Initiative (RPI) of the Bermuda Institute of Ocean Sciences (BIOS) and the risk modelling company RMS.

A BIOS statement explained the workshop, held last week, covered issues that are of importance to a large sector of the re/insurance industry.” Dr Mark Guishard, programme manager of RPI, was quoted as saying: “One particular aspect of European winter storms is that — in the past — they have arrived in groups, sometimes affecting the same areas of insured exposure two or three times in rapid succession. This phenomenon is known as ‘clustering’, and can create headaches for insurers and reinsurers underwriting risk in Europe.”

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