MODELLING IN MARINE Dieter Berg Munich Re HIGH EXPOSURES, - PowerPoint PPT Presentation

HIGH EXPOSURES, ACCUMULATION RISK AND MODELLING IN MARINE Dieter Berg Munich Re

HIGH EXPOSURES, ACCUMULATION RISK AND MODELLING IN MARINE 2012 – Two biggest Marine losses ever Costa Concordia - Single Risk Accumulation Storm Sandy - Natural Catastophe Multiline Accumulation Source: Wikicommons Source: Munich Re

HIGH EXPOSURES, ACCUMULATION RISK AND MODELLING IN MARINE 2010 Chile earthquake Source: dpa

HIGH EXPOSURES, ACCUMULATION RISK AND MODELLING IN MARINE 2011 Japan earthquake and tsunami Source: dpa Source: dpa

HIGH EXPOSURES, ACCUMULATION RISK AND MODELLING IN MARINE 2011 Thailand flood Source: Wikimedia Commons

HIGH EXPOSURES, ACCUMULATION RISK AND MODELLING IN MARINE Source: Munich Re 2012 USA Storm Sandy

Take aways Natural catastrophe modelling in Marine • Natural catastrophes cause large accumulation losses for property – (casualty) – marine / offshore energy • Identifying worst case scenarios is of strategic importance • Cargo – warehouses, containers, car storage • Hull – brown water, pleasure craft / yachts • Marine misc – fine art, ports and terminals, liabilities, inland marine

Take aways Natural catastrophe modelling in Marine • Portfolio transparency is vital for accumulation control • Prevent ruin situation • Adequate cat pricing • Risk capital allocation • Tool-based accumulation control by aligning geo data of the risk locations to a corresponding map of natural hazards

HIGH EXPOSURES, ACCUMULATION RISK AND MODELLING IN MARINE Thank you for your attention ! Dieter Berg Munich Re