Most Bermuda insurers use ‘simplified’ cat models for long-term climate risk
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Most Bermuda insurers use ‘simplified’ cat models for long-term climate risk

Martha Muir
11 May 2022
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The vast majority of Bermuda-based insurers do not use vendor catastrophe models’ additional capabilities for long-term climate-related risk-exposure projections, according to data gathered by the Bermuda Monetary Authority (BMA).

In its Bermuda Insurance Market Climate Change Survey Report, which canvassed 104 groups and commercial entities, the BMA found that 77%-82% of insurers avoid more advanced methods.

Instead,

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Martha Muir
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