Reinsurance

Summarized by Plex Health
Last Updated: 09 May 2022

The reinsurance sector uses NCEI information to supply conventional insurance providers a layer of financial protection against the opportunity of significant losses because of catastrophic weather condition or climate events. Reinsurers use NCEI information to evaluate risk on a larger scale, as costly weather condition disasters can and do take place throughout the whole United States. Reinsurance companies apply NCEI data to catastrophe models that mimic specific dangers related to natural and manufactured catastrophes. Our exotic cyclone and track information from satellites or tornado information from radar stations are used to run CAT models that aid establish prices for reinsurance plans. Evaluation the Success Stories on User Engagement report from December 2016 for more thorough info about NCEI data applications in the reinsurance sector.

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