Willis offers climate forecasts
Willis Re is offering clients hurricane climate forecasts detailing the potential financial impacts ...
Willis Re is offering clients hurricane climate forecasts detailing the potential financial impacts of hurricanes threatening the US coastline through a new service offering.
The broker has partnered with the weather prediction service Accurate Environmental Forecasting in advance of this year's hurricane season.
Julie Serakos, head of global catastrophe modelling practice at Willis Re, said: "The emerging volume of information regarding the influence of climate on hurricanes demands insurers remain informed and review the implications on their catastrophe risk.
"Access to AEF scientists and their detailed forecast products will enable clients to gain insight into a range of climate outcomes that could affect their reinsurance needs."
The AEF information will enable Willis Re clients to consider the effect of many probable climate scenarios on their catastrophe risk, complementing the average increase in hurricane activity that was introduced in commercial catastrophe models this spring.
Isaac Ginis, president and chief executive of AEF, added: "The latest research on Atlantic sea surface temperatures shows that hurricane activity is expected to be above the historical average. We are excited to make our research on the risk implications of hurricane frequency available to primary insurers through our relationship with Willis Re."
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