Dr Peter Dailey is the head of atmospheric science at AIR Worldwide, one of a handful of companies that build something that barely existed 25 years ago: catastrophe models.
Weather is not only factor for insurers. Investment in climate resilience a must
Sustainability pays dividends for business. These are sophisticated computer programmes that estimate the risk of natural disasters such as hurricanes or tornadoes in areas where there is valuable property or infrastructure and aim to calculate the cost of any damage.
The global insurance and reinsurance industries use the models to help assess their financial exposure to such events and therefore how their products should be priced."