Transcription of A Guide to Catastrophe Modeling - RMS
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A Guide to Catastrophe Modeling - RMS
A Guide TO Catastrophe MODELLINGIN ASSOCIATION WITHCat modelling Guide 2008 5/12/08 17:33 Page 12 The Review A Guide to Catastrophe Modelling 2008 Catastrophe MODELLING: A STEP-BY-STEP EXAMPLE1. User enters location data and building characteristics into modelThe basic framework for modelling perils is similar. Thisexample illustrates the steps a user would take to arrive atan estimation of modelled losses from hurricane risk to agiven location. 2. Model geocodes location to its geographic coordinates, identifying location s distance to coast 3.
6 Catastrophe modelling fundamentals ... particular, the common practice of measuring an earthquake’s magnitude or a hurricane’s intensity is one of the key ... actuarial approach to managing catastrophe risk was insufficient; a more sophisticated modelling approach was …
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