Climate Change Edition
You don’t mind surprises, except on climate change?
From now on you no longer need to be surprised by the consequences of climate change, but can clearly assess the related risks. And do so even up to 80 years into the future.
Climate Change Edition of Munich Re’s Location Risk Intelligence, the modular software solution, supports you in analysing and assessing the risks of future climate change.
From a single asset to multiple assets within a portfolio located in areas prone to the effects of future climate change, such as areas of extreme temperatures, extreme rainfall, drought, tropical cyclones, fire weather, floods, sea-level rise, etc. In contrast to the “Natural Hazards Edition“, risk assessments are not calculated on the basis of past events, but on forecasts of future events that are expected to occur as a result of climate change.
In order to generate an all-encompassing assessment, the “Climate Change Edition“ can also be supplemented at any time with the functions of the “Natural Hazards Edition“ and additional modules.
Benefit from the advantages of Climate Change Edition - the comprehensive solution from the world’s largest reinsurer
Scientific Framework and Modelling Approach
Climate change is a critical issue facing both the global community and businesses. The Intergovernmental Panel on Climate Change (IPCC), a United Nations body, established a framework which formed the basis for the Paris Agreement in 2015.
The new and innovative Munich Re physical climate hazard assessment services of the Climate Change Edition are based on this framework and use the Representative Concentration Pathway (RCP) scenarios for atmospheric greenhouse gas concentrations from the latest IPCC Assessment Report (IPCC AR5). The available RCP scenarios in Munich Re’s climate services are:
Moderate scenario leading to a warming at the end of the 21st century of probably less than 2°C relative to the pre-industrial period (1850-1900)
Intermediate scenario leading to a warming at the end of the 21st century of more than 2°C relative to the pre-industrial period (1850-1900)
Most severe scenario leading to a warming at the end of the 21st century of probably more than 4°C relative to the pre-industrial period (1850-1900)
The projection years for the three emission scenarios (RCP2.6, RCP4.5 and RCP8.5) are 2050 and 2100. The reference period for the climatological parameters is 1986-2005, and 20-year periods are used for the projections for more robust trend estimates.
Analysing and assessing all risks of future climate change in a single solution
From a single asset to multiple assets within a portfolio located in areas prone to the effects of future climate change, such as areas of extreme temperatures, extreme rainfall, drought stress, tropical cyclones, fire stress, sea-level rise etc.
You receive dedicated ratings for the following seven climate change scenarios:
Tropical cyclones are among the most destructive weather phenomena. Coastal regions and islands are particularly exposed as they are affected not only by the direct impact of a storm, but also by secondary hazards such as storm surges and pounding waves …
Munich Re’s Nathan current river flood hazard data (provided by JBA Risk Management) offers state-of-the-art flood hazard information (with a 30m horizontal resolution), available on a global scale. The global flood maps are constantly improved and are a market standard …
According to the IPCC Fifth Assessment Report, the global sea level has risen more than 20 centimetres since 1880 and the trend is continuing at an unprecedented speed. Sea level rise is primarily caused by processes …
Global warming is increasing the risk of heat stress which affects humans and the infrastructure as well as ecosystems. Temperatures are rising and the intensity and frequency of heat waves are increasing. Munich Re provides detailed information …
Due to global warming and particularly to warmer oceans, air contains more moisture. This can lead to an intensification of high-precipitation events and an alteration in the frequency of such events. The impact of climate change on precipitation …
Wildfires, which can occur naturally and be caused by humans, are a destructive hazard. They burn down vegetation and lead to the destruction of infrastructure and economic resources. Fire events are often accompanied by secondary effects including …
Increasing temperatures in addition to changes in precipitation patterns can cause drier weather conditions and hence more intense and frequent drought events, which can have severe economic, environmental and social impacts …
The Climate Expert Mode contains valuable complementary information on the set of climatological stress indices (heat stress, precipitation stress, fire weather stress and drought stress) …
Do you need additional assessment models? Thanks to the modular structure, you can easily add further modules to this solution
Munich Re has developed a new Wildfire Risk HD zoning map for the US states of California, Colorado and Arizona and for Canada in Alberta and British Columbia to support wildfire risk management. Risk scores are calculated using Munich Re’s claims experience and scientific assessment of the impacts of climate change. This new edition is available as part of Munich Re’s Risk Suite.
In addition to the comprehensive overall score, which is based on the three individually accessible detailed scores for earthquake, storm and flood, you receive dedicated ratings for a total of 12 natural hazards, including earthquakes, volcanoes, tsunamis, tropical storms, hail, tornadoes, lightning, wildfires, river floods, storm surges etc.