Climate-related risks rank number one in Axa’s emerging risk survey, and the company has responded with a new natural hazards risk-modelling service for large international companies.
The service, from Axa XL Risk Consulting, is designed to help those companies to assess their sites’ exposure to natural hazards and their accumulation risk, to help them refine their insurance coverage.
It does this by identifying defining natural hazards and their frequency based on data and modelling ranging from seismological, geophysical, hydrological and climatological. It can cover all sites operated by a company, or narrowed down to a country or region.
“For the fourth year in a row, climate-related risks ranked first in Axa’s emerging risk survey. Axa XL offers a range of sophisticated solutions to help companies transfer those risks,” Corinne Vitrac, head of Axa XL Risk Consulting, said.
“As risk engineering experts, we believe however that we have to go even further in supporting our clients. A well-managed hazard is a risk that is identified, understood and assessed. And that is exactly what our new risk-modelling service allows for.”
The new service is called Portfolio Catastrophe Loss Modelling.