OpenQuake Platform: More transparency regarding earthquake risks
After more than six years of work, the OpenQuake Platform is now in operation. The goal of the Global Earthquake Model (GEM), a joint initiative, is the development of a comprehensive form of risk consideration.
Cyber attacks are a growing threat to companies. Florian Seitner from the Bavarian Office for the Protection of the Constitution and Michael Hochenrieder from HvS–Consulting, a provider of IT security services, talked with Munich Re about costly losses and complex risks.
Partial internal models – Techniques for integration into the standard formula
Currently, just a few European insurers intend to use a partial internal model, but we expect the importance of internal modeling to grow in the next few years. This paper provides information on regulatory and methodological aspects of partial models, adding practical examples.