Using catastrophe loss models to analyse possible climate change effects on future disaster losses — Australian Meteorological and Oceanographic Society
  1. Schedule
  2. 38(i). Catastrophe models and climate change: data needs and approaches in the Australasian region
  3. Using catastrophe loss models to analyse possible climate change effects on future disaster losses

Using catastrophe loss models to analyse possible climate change effects on future disaster losses (#141)

Thomas Mortlock 1 , Ryan Crompton 1 , Mingzhu Wang 1 , Valentina Koschatzky 1
  1. Risk Frontiers, St Leonards, NSW, Australia

Organisations in Australia and abroad are increasingly aware of the need to understand their exposure to extreme weather in a climate-changed future. However, the use of global climate model output to project climate change impacts from extreme weather at a business-level is not a simple task. Catastrophe loss models are used by the insurance industry to quantify the financial impacts of natural perils and are the ideal tool to analyse possible climate change effects on future disaster losses and inform adaptation decision-making (Walker et al. 2016). Here we present three ways to utilise global climate model data within the catastrophe loss modelling framework and provide examples using Risk Frontiers’ Australian Bushfire/Grassfire (FireAUS) and Tropical Cyclone (CyclAUS) catastrophe loss models.

  1. Walker, G. R., M. S. Mason, R. P. Crompton, and R. T. Musulin, 2016. Application of insurance modelling tools to climate change adaptation decision-making relating to the built environment. Struct Infrastruct E., 12, 450-462.
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