Insurance Companies Showing More Interest in Climate Change Modeling

Last week there was a good story on insurance companies showing more (but still limited) interest in catastrophe models that take into account future possible climate change effects.  As the science goes, a warmer climate raises the potential for more extreme weather events.

While the article does mention that interest is currently limited as property insurance policies are renegotiated on a annual basis, insurance companies appear to be pushed by regulators to plan further out for more extreme events to be able to plan, they want to go away from a ‘black box that spits out numbers’ approach.

Extreme events (2-3+ standard deviations from mean) have always been hard to model in the meteorological community, as the article says at the end, models will get slightly better, but accuracy will still be limited.

Advertisements

About Chuck Schoeneberger

Former forecaster at Meridian Environmental Technologies Inc (now a Interis Company), with a background in GIS and LiDAR, with other stints at GeoSpatial Services of Winona, MN and Aerometric (Now Quantum Spatial) of Sheboygan, WI. He is a weather technologist for public storm safety from a local to international level. LinkedIn Profile: http://www.linkedin.com/profile/view?id=25048141&trk=tab_pro His views are his own and not of his employer.
This entry was posted in GIS, Meteorology and tagged , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s