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Fundamentals of Catastrophe Management

The training program offers a comprehensive exploration of catastrophe management, starting with the fundamentals of understanding different types of catastrophes and their historical impact. Participants will gain insights into exposure data and catastrophe modeling, learning how to effectively use models and interpret their results. The program delves into hazard assessment and vulnerability analysis, equipping participants with the skills to conduct financial modeling for catastrophe events.

Dealing with Model Uncertainty and Limitations and managing Secondary Perils

A significant focus is placed on dealing with uncertainty in natural catastrophe modeling and managing secondary perils, with practical strategies and use cases provided. Emerging trends such as climate change and urbanization are explored, along with non-modeled risks like cyber threats and man-made liabilities and supply chain disruptions. The program emphasizes the importance of business resilience, offering tools to the participants how to strengthen their business's catastrophe resilience, think in scenarios, and be prepared for unforeseen events.

Catastrophe Insurance

Participants will also develop an understanding of principles for catastrophe insurance, including primary insurance, excess insurance, and reinsurance. The program covers various types of catastrophe insurance products for property, providing an overview of traditional and non-traditional insurance products. An overview of catastrophe insurance policies, including quota share, layered insurance programs, and parametric/index-based covers, are included.

Legal and Regulatory Frameworks and catastrophe risk transfer

Legal and regulatory frameworks governing catastrophe insurance are examined, highlighting the importance of regulation for the insurance marketplace and differences in regulation and accounting requirements.

The program also covers catastrophe risk transfer through international markets, explaining key principles and providers of risk transfer, and discussing risk layering strategies for governments, and emphasises the importance of cross-sector collaboration.

Future Readiness and Operating Models

The program addresses future readiness and successful operating models for catastrophe management, including the use of technology and parametric vs. traditional programs. Hands-on case studies are provided to help participants analyze model results and interpret outputs for decision-making, with practical exercises and real-world applications.

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