JBA Risk Management scales global flood model to meet evolving risk

Flood specialist JBA Risk Management has extensively updated its global flood model.

As part of the expanded offering, it has introduced enhanced hazard maps, a broad range of future climate event sets and improvements to both processing speed and exposure disaggregation.

These developments enable reinsurers, insurers, brokers, risk managers and asset managers to gain a clearer understanding of both present and evolving exposure to flood risk.

David Wood, managing director at JBA Risk Management, said: “Our new global flood model’s enhanced functionality, built on our flood maps, enables our clients around the world to fully understand their flood exposure.”

Features

The model includes updated maps for 17 countries incorporating newly available bare earth digital terrain model data.

There are also eight CMIP6-based climate event sets with a new 2080 timeline and two hours clauses, which provide more flexibility for exploring how flood risk may evolve.

Commenting on how the model can be applied by clients, Wood added: ”They can now easily, and quickly, undertake ‘what if’ investigations based on their own needs, see the impacts on their losses under a range of scenarios and fully understand individual and portfolio risk profiles.”