In undertaking the development of the CCRIF parametric insurance coverage, significant investment has gone into developing the underlying catastrophe models. Catastrophe models are essential tools in assessing the risk associated with catastrophe events. The CCRIF model is based on robust datasets all developed within the context of the particular hazards of relevance to the client countries.
- TC is modelled using wind and storm surge data from the US National Oceanic and Atmospheric Administration (NOAA)
- EQ is modelled using source magnitude and hypocentre (location and depth) data obtained from the United States Geological Survey
- XSR is modelled using data from the Global Forecasting System (GFS) and CPC Morphing Technique (CMORPH) models produced by the US National Centers for Environmental Prediction (NCEP) and Climate Prediction Center (CPC)