McGill and Partners and Renew Risk have teamed up to create customized catastrophe models for offshore wind portfolios. Renew Risk used data science techniques and drew on McGill and Partners' expertise to develop five initial models within the Oasis framework, an open-source platform for catastrophe modeling.
These models cover natural disasters like Northeast US hurricanes, Taiwan earthquakes and typhoons, and Japan earthquakes and typhoons. These models will help McGill and Partners gain a better understanding of the risks posed by natural disasters, determine suitable insurance limits, and assess risk aggregation across multiple wind farms in a single region.
