Introduction
There are multiple ways to classify natural hazards as well as climate-change driven risks, however for the sake of MunichRE, the following are the risk classifications presented in different parts of the new PRA (Physical Risk Assessment) report dashboard:
MunichRE risk category | Equivalent chart on the PRA risk dashboard |
NATHAN risk scores | Risk index |
NATHAN hazard scores | Hazard score |
Climate hazard scores | Projection |
NATHAN risk scores (Risk Index)
Summary
In the realm of real estate asset management, NATHAN risk scores are an invaluable tool for assessing the overall risk profile of clients' properties. These scores provide a comprehensive view of the potential risks posed by geophysical, hydrological, and meteorological hazards. Munich Re's model is utilized to calculate risk scores for each specific risk category, encompassing both natural and climate-related hazards.
Der NATHAN-Gesamtrisikowert enthält zwar den Wert für das Waldbrandrisiko, dieser wird jedoch nicht in den einzelnen NATHAN-Risikowertungen berücksichtigt. Daher kann es zu leichten Abweichungen zwischen dem Gesamtrisikowert und der Summe der NATHAN-Risikowerte für Erdbeben, Sturm und Überschwemmung kommen.
Es ist wichtig zu beachten, dass die NATHAN-Risikobewertungen nicht alle mit dem Klimawandel verbundenen natürlichen Risiken berücksichtigen, die im Dropdown-Menü unter "Projektionen" auf dem Dashboard sichtbar sind. Einige Beispiele für nicht berücksichtigte Risiken sind der Anstieg des Meeresspiegels, Brandwetterstress, Dürre, Hitzestress und Niederschlagsstress.
Table: Risk score definitions
Platform Category | NATHAN risk score | Description |
Overall | Overall | Aggregates the Earthquake Risk Score, Storm Risk Score, Flood Risk Score as well as the location’s risk to wildfire to give a normalized reflection of the overall risk of physical damage for building based on its location. Different weights are placed on different risks in combination of an annual loss value for standard industrial business. |
Geophysical | Earthquake | Quantifies a location’s risk to physical damage to earthquakes, volcanoes and tsunamis |
Meteorological
| Storm | Quantifies a location’s risk to physical damage to tropical cyclones, extratropical storms, hail, tornados and lightning |
Hydrological | Flood | Quantifies a location’s risk to physical damage to river flood, flash flood and storm surge. |
For more information see ‘Understanding the NATHAN Risk Scores.pdf' here