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EQECAT and Guy Carpenter Present the DACH Flood
Project
Industry Seminar Series
August 24, 2004
The major flood events in central Europe in recent years,
such as the Oder River flooding in 1997 and Elbe and Donau
in 2002, elevated the significance of flood risk management
among European insurers and reinsurers. The economic losses
just from the 2002 event topped €9billion in Germany
alone and estimates of entire Europe approached €15
billion, ranking it among the 10 most costly natural catastrophes.
Steady increases in property values and growing pressure
on governments to develop in flood plain areas mean that
economic exposure to flood is rising. Modeling river flood
requires the complex integration of 'layers' of geographic
information, including rainfall, catch basin terrain and
geology, and attributes of the built environment, into a
comprehensive package and there are no reliable CAT model
tools currently available that enable insurers and reinsurers
to effectively manage this present and growing risk in central
Europe.
To address the critical issue of managing losses arising
from floods in Europe, EQECAT and Guy Carpenter have joined
forces to develop a European flood risk estimation tool,
the "DACH project" (Germany-D, Austria -A and Switzerland-CH
). This new flood model is the first commercially available
model to utilize a probabilistic, multi-country, central
European rainfall event set to model potential flood losses.
It is an accumulation tool that will allow users to assess
their exposure to flood in Europe using a fully probabilistic
modeling approach. Initially focusing on the German-speaking
territories of central Europe, the first development phase
covers the Rhine River in Germany and will be available to
insurers and reinsurers at the end of September 2004. The
second development stage, covering all river basins in Germany,
will be available at the end of April 2005.
EQECAT and Guy Carpenter are organizing three sessions
to present the upcoming release of their jointly developed
DACH flood project. These sessions will focus on why management
of flood risk has become a major concern among European insurers
and reinsurers and determining available solutions.
Session Details
Date: October 4th, 2004
Location: The Old Library, Lloyd's, 1 Lime Street, London,
EC3M 7HA
Time: 12 pm - 2 pm
Date: October 10th, 2004
Location: Guy Carpenter, Marstallstrasse 11, 80539 Munich
Time: 11 am - 1 pm
Date: October 14th, 2004
Location: Princess Hamilton Hotel, Bermuda
Time: 9:30 am - 11:30 am
The Bermuda event will be followed with additional EQECAT
presentations. For details, please visit EQECAT's Web
site.
Registration
Sessions are free, but have limited seating. To ensure your
participation, please register.* Please register by faxing
a copy of the invitation to
+44 20 7377 4501. Please contact
awilliams@absconsulting.com if
you have any questions.
*Attendance is by invitation only. If you would like to
attend the seminar and have not received an invitation, please
contact awilliams@absconsulting.com for additional information. |
