Risks
Marsh Re’s Climate offering brings you an integrated range of services designed to address multiple facets of physical risks related to climate change, while leveraging the power of other Marsh businesses to also tackle all aspects of risk.
Companies developing and integrating robust climate change strategies into their risk management can benefit from the comprehensive offering at Marsh Re and across the Marsh enterprise. Our suite of climate advisory and modeling services supports insurers overcome the uncertainty of a changing climate and balance risks with opportunities in the near, medium, and long-term time horizons.
As the insurance industry adapts from educating to quantifying climate change outcomes, Marsh Re has released a suite of climate change products. These are available to aid in regulatory responses, industry benchmarking, underwriting strategies and risk management decisions.
In addition, Marsh Re offers a number of proprietary US hazard scores in present and future climate:
Marsh Re’s county-based risk score offers a holistic view of US severe convective storm (SCS) events. The SCS future climate risk score leverages the recent trends in environmental conditions conducive to tornado, hail, and extreme wind events to project future SCS risk.
The climate-adjusted wildfire risk score provides a comprehensive view of wildfire risk and helps clients quantify risk across multiple levels, including risk selection, rate-making and strategic growth. The climate-adjusted wildfire risk score leverages downscaled climate models to project future risk at multiple time slices and emissions scenarios.
Marsh Re’s proprietary United States and Caribbean Sea Level Rise Risk Score offers a transparent approach to modelling rising sea levels. To better understand which locations are at the highest risk of coastal flooding in the future, multiple time horizons and emissions scenarios are considered.
Marsh Re’s climate-adjusted Tropical Cyclone Risk Score combines several complex datasets using a transparent methodology, providing clients with a high resolution, model agnostic view of wind risk from tropical cyclones for multiple emission scenarios, ensemble metrics, and time slices.
Our Marsh Re climate change tools enable clients to quantify the physical impact of climate change on their modelled losses, based on scientific insight. This supports regulatory requirements, reinsurance and underwriting decisions, and internal risk management strategies.
In the insurance context, physical risks are direct damage to insured assets by weather and climatic events. Climate change is increasingly influencing the frequency and severity of natural catastrophe perils, with physical climate risk exacerbating both acute and chronic threats.
Transitioning to a lower-carbon economy may entail extensive policy, legal, technology, and market changes to address mitigation and adaptation requirements related to climate change.
Working in tandem across Marsh, we provide services that span several other climate-related areas. These services include transition risk modeling, climate investment portfolio modeling, asset-level resilience surveys and scoring, supply chain modelling and commercial due diligence.
By applying a combination of modeling techniques, proprietary risk assessments and the latest in scientific research, you can prioritize your climate-related activities, while also benchmarking the success of your approach against industry peers.
Marsh Re conducts an internal survey every year of all its brokers globally, to assess how climate change is impacting reinsurance renewal negotiations. We gathered almost 300 responses, with findings across different themes:
Survey results are collected annually to track the evolution of market expectations around climate change.
As part of our ongoing brand evolution, you may begin to see updates to our branding, including our name, logos, and other visual identity elements, across our websites, communications, and other materials. Since these changes are being implemented on a phased basis, both current and updated branding may appear concurrently during the transition period. Information regarding legal entity name changes and other related legal notices for certain licensed US and Canadian legal entities will be available at https://www.marsh.com/en/about/legal-entity-us-ca.html and updated as changes become effective. Unless expressly stated otherwise, these branding updates do not change the legal entity providing products or services, modify existing contractual relationships, or alter any applicable rights, obligations, or regulatory responsibilities.
