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The impact of hurricanes on a property portfolio: an empirical study based on loss data in Portugal

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Publicado en:Managerial Finance vol. 50, no. 3 (2024), p. 634-652
Autor principal: Hauser, Andrea
Otros Autores: Rosa, Carlos, Esteves, Rui, Bugalho, Lourdes, Moura, Alexandra, Oliveira, Carlos
Publicado:
Emerald Group Publishing Limited
Materias:
Fidelidade - Companhia de Seguros SA
Portugal
Hurricanes
Insurance companies
Costs
Cyclones
Storm damage
Climate change
Insurance industry
Risk premiums
Property & casualty insurance
Councils
Variables
Acceso en línea:Citation/Abstract
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Resumen:PurposeThe simulated scenarios can be used to compute risk premiums per risk class in the portfolio. These can then be used to adjust the policy premiums by accounting for storm risk.Design/methodology/approachA complete model to analyse and characterise future losses of the property portfolio of an insurance company due to hurricanes is proposed. The model is calibrated by using the loss data of the Fidelidade insurance company property portfolio resulting from Hurricane Leslie, which hit the centre of continental Portugal in October, 2018.FindingsSeveral scenarios are simulated and risk maps are constructed. The risk map of the company depends on its portfolio, especially its exposure, and provides a Hurricane risk management tool for the insurance company.Originality/valueA statistical model is considered, in which weather data is not required. The authors reconstruct the behaviour of storms through the registered claims and respective losses.
ISSN:0307-4358
1758-7743
DOI:10.1108/MF-03-2023-0163
Fuente:ABI/INFORM Global