The reinsurance industry has endured numerous larger than expected losses in the last decade or so — everything from Hurricane Katrina to the global financial crisis to the Japanese earthquakes. Perhaps spurred by these losses, the world of reinsurance is...
This article discusses how organizations should take a more strategic approach to weather risk. Heffernan explains how Monte Carlo simulation can be used to help with flood planning, hurricane response, and even volcano mitigation planning. He also advises on the...
The article explores 3 examples of Monte Carlo simulation technology applied for non-business uses: Hurricane Katrina call center, Guatemala volcano evaluation, and pandemic preparation. Click here to read the article.
As green options move toward becoming the norm, new risks can result, such as whether environmentally-friendly materials can withstand a major earthquake, hurricane or flood. Green builders are turning to Monte Carlo simulation, a computational model that examines all...
