Could an Earthquake Cause the Next Financial Crisis?
May 20, 2013
On January 17, 1995, an earthquake struck the Japanese port city of Kobe, killing 6,500 people and destroying $100 billion worth of property and capital. Five weeks later, Barings Bank was declared insolvent after admitting losses of $1.3 billion, twice the amount of its capital. Was there any link between the two events?...read more ›
Willis Research Network – Natural Hazards Client Seminar
May 15, 2013
The Willis Research Network, the world's largest collaboration between public science organizations and the finance and insurance sectors, is holding a client seminar on the 18th June in the Willis Auditorium, 51 Lime Street....read more ›
Scenarios, Financial Networks and Systemically Important Financial Institutions
May 01, 2013
In a recent blog from WillisWire, Marcus Stricker, Director of the Willis Economic Capital Forum (WECF), talks about the indices of riskiness...read more ›
Willis ‘Resilience’ Magazine Identifies Growing Risk Challenges from Natural Catastrophe Exposures
Apr 24, 2013
The growing threat of natural catastrophes is raising serious challenges for corporate risk managers and the insurance industry, according to the second issue of Resilience magazine, the risk management publication from Willis Group Holdings (NYSE: WSH)....read more ›
Big Data: Is it all just Big Jargon?
Apr 23, 2013
What is big Data? If we don’t start doing big data then, the feeling is because because everyone else seems to doing big data, we will somehow miss out. The trouble is few people seem to know what the concept really means. Moreover, many of the technologies we have used for many years continue to cope just fine, despite increasing amounts of data...read more ›
Willis at RIMS 2013
Apr 15, 2013
Willis is preparing an exciting week at RIMS in Los Angeles, where we will be demonstrating our global expertise at the Willis Booth, the Willis Hub, and in various educational sessions and events....read more ›
Chile Earthquake 3 Years On: The Dust has Finally Settled
Apr 02, 2013
The 8.8 earthquake that hit the central coast of Chile on 27 February 2010 was the biggest natural disaster that the Chilean general insurance market has ever had to face...read more ›
Russian Meteor Begs the Question: Can we Prepare for Asteroid Strikes?
Feb 25, 2013
In this blog from the WillisWire site, Hélène Galy, looks at the recent meteor strike in Russia and asks how we can be prepared for asteriod strikes hitting urban areas...read more ›
Indian Flood Model launched
Feb 04, 2013
Globally since 2010 there have been a significant number of catastrophic losses from perils that have not been well understood within the insurance market. The recent flooding events in Thailand and Australia, and non-modelled components of earthquakes in New Zealand and Japan have all emphasised the need to understand and quantify the risks from what used to be considered second perils....read more ›
WRN welcomes Dalhousie University
Feb 01, 2013
The Willis Research Network today welcomes Dr. Andrew Rau-Chaplin from Dalhousie University into the network....read more ›
What Risks Will Emerge in 2013?
Jan 23, 2013
On January 23, WillisWire - the Willis Group blogging site - ran its second annual emerging risks special feature. Entitled “What Risks Will Emerge in 2013?” the post represents the best thinking from around the company on risks that will rear their ugly heads for the first time in the coming year....read more ›
In a World of Climate Change There is a Growing Need for Climate Forecasting
Nov 27, 2012
In late October 2012, the largest Atlantic hurricane on record slammed into New York, one of the world’s most populated cities and one of its leading financial and economic centres. “Super-storm” Sandy grounded air traffic and a massive storm surge flooded the city, forcing authorities to close the New York Stock Exchange for the first time since 9/11. In preparation for the impact of Sandy the city closed its subway system. The only other time this has happened was when New York steadied itself...read more ›
Willis Research Network Retrospective Hurricane Commentary
Nov 07, 2012
What started as an innocuous end-of-season storm development in the Caribbean ended as one of the most significant storms to impact the US affecting 24 states and causing upwards of an estimated $50bn in economic direct and indirect damage....read more ›
Willis Hurricane Response Center updates on Hurricane Sandy
Nov 05, 2012
Willis is closely monitoring the hurricanes and tropical storms threatening North America. Our priority as always is the safety of our Associates and the uninterrupted service of our clients...read more ›
Experts anticipate Hurricane Sandy
Oct 29, 2012
Dr Jane Strachan, Willis Research Fellow at the University of Reading anticipates Hurricane Sandy...read more ›
Study to provide “greater understanding” of risk from hail
Aug 01, 2012
Willis Research Network collaboration to enhance hail loss modelling systems...read more ›
Growing Focus on Natural Disaster Risk Heralds new ‘Age of Insurance’
Jul 04, 2012
The insurance industry plays a pivotal role in integrating new tools, technology and solutions to protect populations and assets against growing concerns about natural disasters and, in the process, helps ensure a sustainable future, according to Rowan Douglas, Chief Executive Officer of Global Analytics at Willis Group Holdings (NYSE:WSH), the global insurance broker....read more ›
Willis Re Release Report on the Impact of RMS v11 European Windstorm Catastrophe Model Changes
Jun 14, 2012
The report focuses on UK RMS version 11 and reviews the changes to the RMS windstorm and storm surge modelled losses....read more ›
Microsoft High Performance Computing implemented by Willis Re
Nov 11, 2011
Reinsurance Risk Experts Cut Catastrophe Modelling Time by up to 75 Per Cent...read more ›
Willis Research Network Scoops Top Industry Award and Welcomes Two Leading French Academic Institutes
Sep 13, 2011
For the second time in three years the Willis Research Network (WRN), part of Willis Group Holdings (NYSE: WSH), the global insurance broker, has been named “Analyst/Researcher of the Year” at the Worldwide Reinsurance Awards, held at the Dorchester Hotel in London on September 7....read more ›
Mastering the Modelled World: Willis Research Network Launches Economic Capital Forum at Georgia State University
Jul 19, 2011
The world’s leading risk and actuarial research departments have come together under the Willis Research Network (WRN), the academic and analysis arm of Willis Group Holdings (NYSE: WSH) , the global insurance broker, to support the industry’s development and use of economic capital models required under Solvency II and similar regulatory and rating regimes worldwide....read more ›
Willis Group Holdings Joins ClimateWise
Dec 01, 2010
Willis Group Holdings (NYSE:WSH) has become the newest member of ClimateWise, the global collaboration of leading insurers focused on reducing the risks of climate change....read more ›
WRN Wins Business Reinsurance Initiative of the Year
Nov 24, 2010
The Willis Research Network (WRN) has scooped a prestigious award from the Institute of Risk Management to be named Business Reinsurance Initiative of the Year....read more ›
Science, finance and policy: unlocking climate uncertainty
Nov 24, 2010
Leading figures from the world of climate science, government and mathematics came together today to hear findings from a ground-breaking research programme aimed at advancing one of the most challenging and economically important mathematical problems of all time - how to reduce the uncertainty of climate change forecasts....read more ›
Grant Enables Further Sustainability Research Insurance Day
Nov 09, 2010
Fox School of Business clinical professor James Hutchin was recently named a partner of the Willis Research Network, the largest collaboration of academics and the insurance industry, as part of 10 new appointments by the network....read more ›
Predicting Hurricanes Years Ahead
Nov 07, 2010
A joint project with the Willis Research Network and UK Met Office scientists has resulted in a major breakthrough in forecasting the number of Atlantic tropical storms. The new research, which will be published on Nature Geoscience web site today, reveals that the Decadal Climate Prediction System developed at the Met Office extends successful storm activity forecasts beyond the current season, providing predictions years ahead. The findings follow a collaborative project started in April betw...read more ›
Willis Release Latin America Flood Model
Oct 13, 2010
Willis Re, the reinsurance arm of global insurance broker Willis Group Holdings (NYSE: WSH), has extended its lead in Latin American flood risk with the release of detailed risk estimates and large event scenarios for key cities including Sao Paulo, Santiago and Bogota. The models, developed by the Willis Research Network (WRN), will help clients to optimize their related portfolios and manage their downsides for flood risk. Going forward, the tools might also be used to consider the potential i...read more ›
Willis Research Network Expands with 10 New American Universities
Oct 07, 2010
The Willis Research Network (WRN), the world's largest collaboration between public science and the re/insurance sector, has added 10 new US partners to augment the 30 science institutions already part of the global network. The WRN is an integral part of Willis Re, the reinsurance arm of Willis Group Holdings (NYSE: WSH), the global insurance broker....read more ›
Willis Research Network Shortlisted for Industry Prize
Sep 10, 2010
The Willis Research Network (WRN), the division of Willis Re that supports leading academic investigation into extreme events and their potential impacts on insurers and industry, has been shortlisted for an Institute of Risk Management award in the category of Business Reinsurance Initiative of the Year....read more ›
Insurers call Action to Adapt to Climate Change
Sep 06, 2010
Four initiatives representing more than 100 leading international insurance companies are today calling on governments worldwide to harness risk management techniques and insurance expertise to help the developing world adapt to climate change....read more ›
Willis Research Network Launches in Germany
Jun 01, 2010
The Willis Research Network (WRN), part of Willis Group Holdings Limited (NYSE:WSH), the global insurance broker, has strengthened its position as the world's largest collaboration between academia and the re-insurance industry by launching a presence in Germany...read more ›
Willis Appoints Chair in Climate and Weather Risk at Walker Institute
May 13, 2010
The University of Reading's Walker Institute and Willis Research Network (WRN) announced today the creation of a new Chair, the Willis Professor of Climate and Weather Risk for Insurance at the University's Climate Modelling and Risk Laboratory. Worldwide applications are invited from suitably qualified personnel from academia, industry and the public sector....read more ›
Mount Vesuvius Eruption Could Cause 21,000 Casualties
Apr 15, 2010
Volcano Ranks Number One on Willis List of Europe's 10 Most Dangerous....read more ›
University of Oxford Joins Willis Research Network (WRN)
Sep 07, 2009
University's Smith School of Enterprise and the Environment Forms Centre of Catastrophe Risk Financing and Public Policy with Support from WRN....read more ›
Willis Research Network Convenes First Insurance Session at Largest Scientific Meeting in Europe
Apr 24, 2009
Natural Hazard Risk Assessment Session Draws 55 Papers from Insurers and Academics, Including Presentation on Seismic Risk in Italy...read more ›
Trade paper Insurance Day features WRN's Google award winning team
Mar 31, 2009
The insurance industry's biggest daily paper, Insurance Day, has featured the award-winning team of WRN members from City University London....read more ›
Willis Research Network wins Google Research Award and supports Launch of National Centre of Earth Observation
Mar 09, 2009
Willis Research Fellow Dr Aidan Slingsby and Dr Jason Dykes and Dr Jo Wood of City University London, in collaboration with Willis Research Network (WRN) Senior Academic Dr David Stephenson and Rachel Lowe of Exeter University, have won a Google research prize for their work on visualising seasonal climate forecasts in Google Earth....read more ›
WRN British Embassy Climate Change Workshop in the press
Mar 02, 2009
The Walker Institute at Reading University, in partnership with the Willis Research Network, hosted an extremely succesful workshop at the Bristish Embassy in Tokyo, Japan earlier this year....read more ›
Cat 3 Hurricane in the Northeast: Willis/Princeton Insurers' Summit
Feb 24, 2009
The Willis Research Network and Princeton University invite you to the greatest ever gathering of scientific expertise for insurers with windstorm and flood risk in the Northeast U.S....read more ›
Media Response to Dr Greg Holland's revolutionary work with supercomputers and climate models
Jan 09, 2009
A selection of articles and comments from media outlets around the world on Dr Greg Holland's announcement about his work with supercomputers and climate models to predict future hurriance risk....read more ›
Scientists Reveal Groundbreaking Research into Future Hurricane Risks
Dec 10, 2008
Scientists from the Willis Research Network (WRN), part of Willis Group Holdings Limited (NYSE:WSH), the global insurance broker, have outlined groundbreaking new research on future hurricane activity and storm clustering today, including unparalleled use of supercomputers to tackle Caribbean and Gulf of Mexico hurricane risk....read more ›
Willis Research Network Embraces US Supercomputer to Tackle Caribbean and Gulf of Mexico Hurricane Risk
Oct 29, 2008
The Willis Research Network has teamed up with the National Center for Atmospheric Research (NCAR) in undertaking the most detailed projections ever of future hurricane activity in the Caribbean and the Gulf of Mexico. With first results expected next spring, the programme seeks to help onshore and offshore underwriters confront the uncertainties climate change has brought over risk levels in recent years....read more ›
Insurers rise to flood challenges: Stuart Lane tells the Financial Times about becoming a weather detective
Oct 27, 2008
Prof Stuart Lane, WRN Senior Academic at Durham University, was featured in an article in today's Financial Times....read more ›
Willis Becomes First Broker to Sponsor OECD's Global Earthquake Model
Oct 15, 2008
Willis Group Holdings, the global insurance broker, is sponsoring the Global Earthquake Model (GEM), a five-year initiative of the Organisation for Economic Co-operation and Development (OECD) to produce the world's first earthquake model with comprehensive and consistent coverage around the world - including in developing countries where no reliable models exist today. Willis is the first re-insurance broker to support GEM, joining its Governing Board whose members include Munich Re and other i...read more ›
WRN Professors ask if the 2007 UK floods are a sign of things to come in the International Underwriting Association's World @ Risk Book 2008
Oct 10, 2008
WRN members Prof Paul Bates, University of Bristol, and Prof Stuart Lane, Durham University, have been featured in this year's World @ Risk book from the International Underwriting Association (IUA)....read more ›
WRN's Dr Aidan Slingsby speaks to reinsurance magazine The Review about Google Earth's potential to insurers
Oct 03, 2008
The WRN's Aidan Slingsby spoke to the Review Magazine about Google, Geovisualisation and GIS....read more ›
WRN Chairman Appointed to Natural Environment Research Council
Sep 25, 2008
Rowan Douglas, Chairman of the Willis Research Network, has been appointed to the Natural Environment Research Council (NERC) by UK Science Minister Ian Pearson....read more ›
Willis Research Network Members Collaborate With USGS and CGS on Southern California Earthquake Study
Jun 30, 2008
Members of the Willis Research Network (WRN) have joined with the U.S. Geological Survey (USGS) and the California Geological Survey (CGS) to develop a scenario that shows how a magnitude 7.8 earthquake along the San Andreas Fault could cause long-lasting social and economic consequences, including critical damage to infrastructure, transportation and power....read more ›
Willis Research Network Adds Princeton, NCAR and University of Colorado to Expand Global Reach to North America
Jun 23, 2008
The Willis Research Network (WRN) has strengthened its position as the world's largest collaboration between academia and the re-insurance industry by announcing the addition of three prestigious North American members: Princeton University, the National Center for Atmospheric Research (NCAR) and the University of Colorado....read more ›
Willis Research Network adds University of Bologna and Pavia University in major European expansion
Jun 12, 2008
The University of Bologna and Pavia University have become the latest additions to the Willis Research Network....read more ›
Standing room only as crowds gather to see WRN and Google present the future of geovisualisation and insurance
Apr 25, 2008
The Willis Research Network hosted its latest seminar this week in the auditorium of the new Willis Building in Lime Street....read more ›
Evaluating Global Landslide Risk - Prof David Petley outlines the global threat of landslide
Dec 03, 2007
Landslide hazard increasingly appears on schedules of risks to be covered by national catastrophe insurance schemes, and is now recognised as a distinctive hazard within the catastrophe modelling community....read more ›
Megacity Flood Risk & Insurance - Prof Paul Bates examines future flood risk to megacities
Dec 03, 2007
Modelling flood risk for emerging megacities is a market priority and significant technical challenge. Concern across cities in the Asia-Pacific region such as Jakarta, Bangkok, Shanghai and Manila is particularly acute....read more ›
Birkbeck College and Willis Research Network Gain EPSRC PhD Funding for Thames Gateway Flood Risk
Nov 09, 2007
The Engineering and Physical Sciences Research Council (EPSRC), the UK Government's leading agency for research and training in engineering and the physical sciences, has granted funding for a flood risk PhD starting in October 2007. The supervision for the PhD will be jointly shared between Dr Diane Horn, School of Geography, Birkbeck College, and insurance risk experts in Willis Analytics....read more ›
Willis Research Network Uses Japanese Supercomputer to Help Insurers Predict Typhoons, Hurricanes and Climate Change
Feb 12, 2007
In an industry-first, the Willis Research Network (WRN) has joined forces with internationally renowned universities to harness the immense power of the NEC Earth Simulator in Yokohama, Japan to help insurers understand the frequency and severity of natural catastrophes in the face of climate change. The ability to use the Earth Simulator in conjunction with the expertise of the WRN and its partners, focused for the first time on the direct needs of the insurance industry, marks a major step fro...read more ›
WRN's Prof David Stephenson blames "explosive" jet streams for UK winter storms in The Independent
Jan 19, 2007
Willis Research Network partner Dr David Stephenson of Reading University has been quoted in The Independent....read more ›
Willis Research Network's groundbreaking links between industry and academia featured in DTI Report
Dec 21, 2006
The Willis Research Network has featured in a recent Department of Trade and Industry 'Science and Innovation' report - "Making the most of UK research" (see page 79)....read more ›
Prof David Stephenson reveals the secrets of Storm Clustering to reinsurance magazine The Review
Nov 03, 2006
The Review Magazine has published an article by WRN members David Stephenson (Reading University) and Kirsten Mitchell-Wallace and Kyle Beatty (Willis Analytics)....read more ›