Despite a recent period of perceived inactivity, European windstorm risk is one of the five peak perils that the global reinsurance industry is facing.
In fact, there are trillions of dollars of property at risk from these extra-tropical cyclones.
The new CoreLogic white paper, European Windstorm – Impact of Climate Change, takes a detailed look at how future climate change AR6 scenarios may impact European windstorm risk. The analysis looks at potential impacts both in terms of the changes to the underlying hazard and the associated insured losses.
This paper will discuss the following in detail:
- The 2023 CoreLogic Eurowind model and the construction of the hazard event set
- An introduction to climate change modeling, with a specific focus on European windstorm modeling and the wider context of northern hemisphere changes
- The projected impact of climate change on European windstorm risk, with an examination of the underlying hazard as well as where changes will manifest
- The projected impact of climate change on European windstorm insured losses
There are several possible pathways that will define the future climate change up until at least 2050. It is therefore imperative to know how to estimate the variable risk of European windstorms and prepare for each of these possibilities.
CoreLogic’s European Windstorm models are a robust solution for projecting European windstorm risk under possible future conditions.
Learn more about how these models meet the needs of today’s catastrophe risk analysts as well as provide insight into what the future may hold.
Dive deeper into European windstorm risk in the first part of this white paper: Winds of Change: Counterfactual Analyses of European Windstorm Risk.
©2024 CoreLogic, Inc. All rights reserved. The CoreLogic content and information in this blog post may not be reproduced or used in any form without express accreditation to CoreLogic as the source of the content. While all of the content and information in this blog post is believed to be accurate, the content and information is provided “as is” with no guarantee, representation, or warranty, express or implied, of any kind including but not limited to as to the merchantability, non-infringement of intellectual property rights, completeness, accuracy, applicability, or fitness, in connection with the content or information or the products referenced and assumes no responsibility or liability whatsoever for the content or information or the products referenced or any reliance thereon. CoreLogic® and the CoreLogic logo are the trademarks of CoreLogic, Inc. or its affiliates or subsidiaries. Other trade names or trademarks referenced are the property of their respective owners.
