WTW launches climate risk diagnostics tool

Willis Towers Watson has launched a global modelling tool that uses advanced data and analytics to demonstrate changes in acute hazards such as extreme wind and flood as well as chronic stress factors like sea-level rise and heat stress under multiple combinations of climate scenarios and time horizons.

Climate Diagnostic shows how those changes can impact specific properties, enabling clients to determine how best to mitigate risk across their property portfolios and key locations, and can also help organisations respond to climate risk disclosure requirements such as the Task Force on Climate-related Financial Disclosure

John Merkovsky, global head of risk and analytics, Willis Towers Watson, said: “We are delighted to introduce this innovative modelling tool to clients. This tool provides visual representations of key locations influenced by climate change in the mid and long-term. This enables our clients to extend existing risk understanding, revolutionising the way that they can review their future risk. We believe that the more organisations learn about climate risk, the more they will see that the thinking, analytic techniques and tools that are required for this new future are familiar to risk managers today.”

    Share Story:

YOU MIGHT ALSO LIKE


Cyber risk in the transportation industry
The connected nature of the transport and logistics industries makes them an attractive target for hackers, with potentially disruptive and costly consequences. Between June 2020 and June 2021, the transportation industry saw an 186% increase in weekly ransomware attacks. At the same time, regulations and cyber security standards are lacking – creating weak postures across the board. This podcast explores the key risks. Published April 2022.

Political risk: A fresh perspective
CIR’s editor, Deborah Ritchie speaks with head of PCS at Verisk, Tom Johansmeyer about the confluence of political, nat cat and pandemic risks in a world that is becoming an increasingly risky place in which to do business. Published February 2022.