Inland flooding causes significant economic and societal impacts annually. Of the eight natural disasters costing the insurance industry over $1 billion in 2024, six of these were categorized as flood events, with three of these occurring in Europe alone. Catastrophe modeling aims to quantify the risk of flood events to enable preparedness for the financial and insurance industries.
]]>Large ensembles are essential for predicting rare, high-impact events that cannot be fully understood through historical data alone. By simulating thousands of potential scenarios, they provide the statistical depth necessary to assess risks, prepare for extremes, and build resilience against once-in-a-century disasters. Global insurance group AXA is conducting simulations with cutting-edge…
]]>In the United Arab Emirates (UAE), extreme weather events disrupt daily life, delaying flights, endangering transportation, and complicating urban planning. High daytime temperatures limit human activity outdoors, while dense nighttime fog is a frequent cause of severe and often fatal car crashes. Meanwhile, 2024 saw the heaviest precipitation event in the country in 75 years…
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