A Decision-Theoretic Tool for Enhanced Cat Risk Management

Making insurance decisions considering hazard uncertainty and the decision-maker's attitude to risk

We have been working with the London School of Economics and Reask on a project funded by the Lighthill Risk Network to develop a web-based tool that aims to open a discussion on the use of for decision-theory based frameworks in catastrophe risk modelling and management. The tool uses Tropical Cyclone information and focuses on the potential use of seasonal hurricane predictions, and how the ensemble of models might influence insurance decisions in any given North Atlantic Hurricane season.