As the tragedy seen in Christchurch in 2011 showed, earthquakes in New Zealand have the potential to cause significant loss of life and damage to buildings. While less frequent, earthquakes in Australia can also cause damage and loss.
Risk Frontiers is one of Australia’s leading flood risk specialists. As well as being joint developers of the National Flood Information Database for the Insurance Council of Australia and sole developers of the Flood Exclusion Zone database, Risk Frontiers has also undertaken regional and local flood reviews for insurers.
Hail is Australia’s most costly natural hazard and research into hail hazard and damage is among the earliest carried out at Risk Frontiers. For 25 years, Risk Frontiers has been leading the development of natural catastrophe models for the Asia-Pacific region.
The latest release of FireAUS, covering bushfire and now grassfire risk across Australia, represents another leap in the quantification of risk at the location and portfolio level. Building on our recognised machine learning capability, peer reviewed research and on the ground post-event surveys, FireAUS 3.0 has national coverage at the individual address level.
Tropical cyclones, also known as typhoons or hurricanes, can cause widespread damage and significantly influence global natural disaster losses.
The historical death toll from heatwaves in Australia is larger than that of all other natural disasters put together and yet the community is lacking the tools to both define and communicate the risk associated with such extreme events.
Risk Frontiers has a strong research program in volcanic risk and has developed two key volcanic hazard and loss models for application in New Zealand and Japan. A large number of volcanic risk projects have also been conducted at Risk Frontiers.
Risk Frontiers is partnering with Optus Macquarie University Cyber Security Hub to develop insurance and reinsurance industry focussed solutions for analysing cyber security risk.
Australia, like many other Western countries, faces the threat of terrorist attacks on home soil. To help understand the financial impacts of explosive devices arising from potential terrorism-related events, Risk Frontiers has developed a deterministic model that combines detailed exposure modelling and bomb blast damage footprints calculated from over-pressure impulse loading of buildings.
Population density in Australia and the broader Asia-Pacific region is historically clustered on the coast – more than 80% of Australians live within the coastal zone. A key challenge for government is to manage the exposure of a growing coastal population in an inherently dynamic hazard zone.