AXA XL Partners with Cambridge Centre for Risk Studies to Launch Online Disaster Recovery Hub

The frequency and severity of natural disasters such as floods, droughts and hurricanes are expected to change as the climate changes and past experiences are useful to help guide recovery efforts. A new online Disaster Recovery Hub comprised of more than 100 major disaster case studies, and covering different events in different locations, has been launched by the Cambridge Centre for Risk Studies at Cambridge Judge Business School in partnership with AXA XL to help with such guidance.

The Cambridge Centre for Risk Studies Disaster Recovery Hub (the “Hub”) includes data visualisations and other tools to assess the role the insurance industry can play in helping communities impacted by disasters get back on their feet as quickly as possible.

The variety of case studies in the Hub range from the floods in Bangladesh in 2004 to the Kashmir earthquake in Pakistan in 2005 to Superstorm Sandy in the US in 2012 to the Germany floods of 2013, and typhoons in the Philippines and Vietnam in 2013 and 2017, respectively. While most of the case studies are from the past 30 years, the Hub also contains older case studies, including the Ohio River flood of 1937 in the US and the Ashgabat Earthquake of 1948 in Turkmenistan.

The Hub shows that the Bangladesh floods and Superstorm Sandy, which in both cases had damage severity levels (i.e., the proportion of the building and infrastructure value lost from the event) between 60% to 80%, had very different recovery profiles. For example, the Bangladesh floods, where the proportion of insured loss was only 0.05%, had an economic recovery speed of 6 to 11 months and the (vous en avez lu 30%, il reste à lire 70%, de cet article.)

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