Model covers multiple countries
Guy Carpenter introduced a new Central and Eastern European (CEE) flood model.
The model is the first developed by Guy Carpenter to cover multiple countries.
Countries across the CEE region have suffered significant flood losses in the recent past, most notably the 1997 summer floods in Poland and the Czech Republic, as well as the catastrophic floods of August 2002 that affected the Czech Republic, Austria, and Germany.
‘As portfolios of multi-national insurance and reinsurance companies extend to include more countries in the Central and Eastern European region, we are seeing an increasing demand for flood models that can estimate the frequency and monetary loss associated with flood events occurring across country borders,’ said Hamish Dowlen, Senior Vice President, Guy Carpenter.
Guy Carpenter’s new tool models flood peril in the Czech and Slovak Republics, Austria, Poland, and Hungary.