Munich Re

About: Munich Re is a based out in . It is known for research contribution in the topics: Reinsurance & General insurance. The organization has 143 authors who have published 200 publications receiving 6913 citations.

Flood risk and climate change: global and regional perspectives

Abstract: A holistic perspective on changing rainfall-driven flood risk is provided for the late 20th and early 21st centuries. Economic losses from floods have greatly increased, principally driven by the expanding exposure of assets at risk. It has not been possible to attribute rain-generated peak streamflow trends to anthropogenic climate change over the past several decades. Projected increases in the frequency and intensity of heavy rainfall, based on climate models, should contribute to increases in precipitation-generated local flooding (e.g. flash flooding and urban flooding). This article assesses the literature included in the IPCC SREX report and new literature published since, and includes an assessment of changes in flood risk in seven of the regions considered in the recent IPCC SREX report—Africa, Asia, Central and South America, Europe, North America, Oceania and Polar regions. Also considering newer publications, this article is consistent with the recent IPCC SREX assessment finding that ...

Distribution-free Calculation of the Standard Error of Chain Ladder Reserve Estimates

Abstract: A distribution-free formula for the standard error of chain ladder reserve estimates is derived and compared to the results of some parametric methods using a numerical example.

Tropical Cyclones and Global Climate Change: A Post-IPCC Assessment

Abstract: The very limited instrumental record makes extensive analyses of the natural variability of global tropical cyclone activities difficult in most of the tropical cyclone basins. However, in the two regions where reasonably reliable records exist (the North Atlantic and the western North Pacific), substantial multidecadal variability (particularly for intense Atlantic hurricanes) is found, but there is no clear evidence of long-term trends. Efforts have been initiated to use geological and geomorphological records and analysis of oxygen isotope ratios in rainfall recorded in cave stalactites to establish a paleoclimate of tropical cyclones, but these have not yet produced definitive results. Recent thermodynamical estimation of the maximum potential intensities (MPI) of tropical cyclones shows good agreement with observations. Although there are some uncertainties in these MPI approaches, such as their sensitivity to variations in parameters and failure to include some potentially important interac...

Flood Risk = Hazard • Values • Vulnerability

Abstract: Worldwide, flooding is probably the number one cause of losses from natural events. No region in the world is safe from being flooded. As the flood risk is a function of the flood hazard, the exposed values and their vulnerability, the increase in flood losses must be attributed to changes in each of these aspects. While flood protection measures may reduce the frequency of inundation losses, appropriate preparedness measures lessen the residual financial risk considerably. Besides public and private measures, insurance is a key factor in reducing the financial risk for individuals, enterprises, and even whole societies. In recent years, the demand for flood insurance has been growing. This is forcing the insurance industry to develop appropriate solutions. At the same time it is vital for the insurers to know the probable maximum losses they might face as the result of an extreme event.

Declining vulnerability to river floods and the global benefits of adaptation

Abstract: The global impacts of river floods are substantial and rising. Effective adaptation to the increasing risks requires an in-depth understanding of the physical and socioeconomic drivers of risk. Whereas the modeling of flood hazard and exposure has improved greatly, compelling evidence on spatiotemporal patterns in vulnerability of societies around the world is still lacking. Due to this knowledge gap, the effects of vulnerability on global flood risk are not fully understood, and future projections of fatalities and losses available today are based on simplistic assumptions or do not include vulnerability. We show for the first time (to our knowledge) that trends and fluctuations in vulnerability to river floods around the world can be estimated by dynamic high-resolution modeling of flood hazard and exposure. We find that rising per-capita income coincided with a global decline in vulnerability between 1980 and 2010, which is reflected in decreasing mortality and losses as a share of the people and gross domestic product exposed to inundation. The results also demonstrate that vulnerability levels in low- and high-income countries have been converging, due to a relatively strong trend of vulnerability reduction in developing countries. Finally, we present projections of flood losses and fatalities under 100 individual scenario and model combinations, and three possible global vulnerability scenarios. The projections emphasize that materialized flood risk largely results from human behavior and that future risk increases can be largely contained using effective disaster risk reduction strategies.