“Natural hazards” refers to natural factors in the external environment that could damage or destroy a building. These most commonly include flood, wildfire and tropical storms, but others include earthquakes, lightning, hail and freeze.
With climate change increasing the frequency and severity of weather events and some natural catastrophes, understanding the risk to properties is becoming more important than ever.
In late 2022 we released the first report in our updated property intelligence series, which covered the data and technology helping insurers to understand where a property is located and what it is made of.
This report reviews the techniques and tools available today to help insurers understand, manage and mitigate natural hazard risk for properties they are insuring. We include perspectives from an insurer, broker and MGA on the current hazard data and catastrophe modelling market and profile the InsTech members providing relevant models, data and technology.