Marsh and CS STARS, Marsh’s risk and claims management business unit, has added the NAT CAT Risk Map to the NAT CAT Pack to help clients manage their natural catastrophe risks and gain more control in their insurance renewal negotiations.
In a recent statement Marsh explained that: “Businesses are under mounting pressure from insurers to manage their global supply chain and property risk exposures more aggressively, amid greater underwriting scrutiny following heavy losses sustained as a result of increasingly frequent and severe natural catastrophe events.”
Using CS STARS’ enterprise technology, the NAT CAT Risk Map expands upon traditional risk management information systems and enables clients to record their global risk exposures on a single interactive map.
Caroline Woolley, leader of Marsh’s property practice in Europe, the Middle East and Africa, said: “Accurate natural catastrophe information is of paramount importance in determining risk mitigation, risk transfer and financing strategies.”
“However, many modeling exercises are likely to be flawed from the outset if firms fail to provide all the appropriate data and fully determine the precise nature and location of the natural catastrophe risks they face across their value chains globally.”
