Fathom

Quantify financial risk with Fathom’s Global Flood Cat — the first truly global catastrophe model that considers both inland and coastal flood perils. The launch of this global flood catastrophe model marks a significant milestone in Fathom’s journey and achieves a vision that began nearly 11 years ago when our company was founded. We’re really excited about this evolution in our product stack, but why should Global Flood Cat matter to you? — Truly global, multi-peril. — Comprehensive damage uncertainty. More accurate quantifications of risk. — Disaggregation: More than just residential. — Fully customizable. Own your view of risk. Want to know more? Visit our product page to explore how Global Flood Cat can transform how you quantify and mitigate flood risk: https://hubs.ly/Q02RPRyC0 #FloodRisk #CatModeling #FinancialRisk #ClimateResilience #catastrophemodels

38% of respondents say climate risk verification is becoming a higher priority for boards - this is a significant shift in how organizations are addressing the climate crisis. As climate risk continues to escalate, boards are under increasing pressure to ensure accurate reporting and effective management. Our latest report, The climate challenge for boards: Perspectives from the financial sector, explores this trend, highlighting the challenges, opportunities, and evolving best practices in climate risk governance. Based on insights from 92 major corporations, plus interviews with 42 senior leaders, this is a must-read for risk professionals within financial sectors to understand the complexities of climate risk. Download the full report to learn more - https://hubs.ly/Q02Zjqh20 #ClimateRisk #BoardGovernance #RiskManagement #FinancialInstitutions #financialmarkets #boards #climateresilience #climatedata #climatereporting

How can data empower farmers in Central America support Central American farmers facing intensifying climate risks? A new study by Chemonics International, using data from Fathom’s Global Flood Map and USAID’s ARCO program, explores climate risks in El Salvador and Honduras through a Climate Vulnerability Assessment (CVA). The assessment highlights challenges posed by climate change and offers data-driven strategies to build resilience among farmers. Key findings: 🔹 Flooding in Honduras’ Sula Valley: The CVA predicts significant flood risks to farmland, infrastructure, and the Port of Cortes—critical for 90% of Honduras’ trade—posing serious economic threats. Data from the study supports strategies like landscape-level flood management. Additional risks: 🔹 Droughts: El Salvador could face up to 10 months of drought-like conditions by mid-century. 🔹 Unpredictable rainy seasons: Increasing variability in rainy season timing disrupts planting schedules. 🔹 Hurricanes: Intensifying storms add to the region’s climate risks. 🔹 Heat stress: Rising temperatures threaten farm laborers' health during peak periods. These findings underscore the urgent need for resilience-focused solutions. Read more about the study and its proposed actions through the link below. https://lnkd.in/eNxxwTQm #centralamerica #honduras #elsalvador #climateresilience #flooding #floodrisk #climatevulnerability

Climate change and flood risk: Business threat or opportunity? This week, Fathom’s own Harry Vardigans and Professor Paul Bates CBE FRS visited the NCE in Birmingham to join partners and clients at #GIRO2024. Our team were armed with the findings of our report ‘Flood risk and the modern actuary’ - a detailed primer for actuaries looking to be more climate-driven in a non stationery world. As part of the event, Paul presented on this topic. He provided key insights into how actuaries play a critical role in the adoption and use of these emerging tools in the insurance sector, with the power to drive real change in their organizations. You can find out more about the report here: https://lnkd.in/eTeAHf5B

Malaria – the world’s most deadly vector-borne disease – is particularly sensitive to variations in weather. With climate change modifying flood risk, what subsequent effect will this have on Africa, home to 94% of malaria cases? Thanks to a new partnership with Fathom, the Malaria Atlas Project, in collaboration with Boston Consulting Group (BCG) has released a new report on the topic. Using Fathom’s present and future flood hazard data, the report aims to quantify the extent of impact and inform resilience strategies, by delving into topics such as the disruptive consequences of extreme flooding on healthcare access, and how a changing climate will influence parasite ecology. Learn more about Fathom’s role in the initiative: https://hubs.ly/Q02YJCW00 Discover the report’s findings: https://hubs.ly/Q02YJTgG0

How do you navigate the complexities of compound, multihazard and cascading event impacts on water security? Join us on November 21 to explore the latest advancements in modeling compound events and their impacts on water security. This free virtual conference, organized by the UNESCO Chair in Sustainable Water Security at Florida International University and the University of Brasília, in collaboration with UNESCO-IHP and the Organization of American States, will bring together leaders from academia, industry and international organizations to provide valuable insights into addressing the complexities of water security in an increasingly unpredictable world. Andrew Smith, Fathom’s Chief Operations Officer and co-founder, will discuss the economic impact of extreme weather events and examine how advancements in catastrophe modeling are aiding in quantifying both economic and insured losses. Register for the free virtual conference today: https://lnkd.in/enYaZAZc #Watersecurity #Compoundevents #Resilience #Naturalhazards #Climateadaptation #UNESCO #OAS #catastrophemodeling Universidade de Brasília

It’s official: Aon’s Florida Flood model has been certified by The Florida Commission on Hurricane Loss Projection Methodology. Built in collaboration with Fathom, the model leverages the latest data, analytics and research to quantify flood risk from tropical and non-tropical weather systems across all three flood sub-perils. With new requirements due in 2025 specifying that models used to develop residential flood insurance rates in Florida must be certified by the Commission, this achievement is an invaluable tool for state insurers looking to develop flood strategies with clarity and confidence.  Huge congrats to our Principal Hydrologist, Dr Nans Addor, Chief Technical Officer Dr Niall Quinn, and Principal Hydraulic Model Developer, Dr James Savage and for all your work in making this certification happen. Learn more here: https://lnkd.in/eA4t__Zc

How do flood resilience measures impact insurance premium calculations? What role does the (re)insurance industry play in tackling the challenge of flooding? A newly launched report from the Swiss Re Institute explores the topic, delving into different approaches to flood adaptation and the cost to benefit ratio of their implementation. Check out the full report to learn more, and discover the value the insurance industry provides supporting the development of climate adaptation measures, and ensuring rapid recovery when events do occur: https://lnkd.in/eQt8J6mK

Climate change has rapidly become a top priority for financial organizations—just 10 or 20 years ago, it wasn’t even on most boards' agendas. But today, as the climate crisis intensifies, boards are responsible for not only protecting their organizations but also steering the shift toward a sustainable future. Today we are pleased to announce the launch of our latest report, The climate challenge for boards: Perspectives from the financial sector, written in partnership with @IFI Global This study is based on self-disclosed annual and ESG reports from 92 major corporations, supplemented by first-hand interviews with CEOs, board directors and business leaders on challenges, opportunities and the evolving practices in climate risk. Delving into the multi-dimensional challenges that board directors face in navigating climate risk, covering environmental, regulatory, and business concerns, key topics include: - Unique challenges boards face in overseeing climate risk - Varying approaches across industries - Who holds responsibility for climate risk management: CROs or board directors? - Climate risk assessment by jurisdiction You can access the full report via the link below and learn how your board can lead the way in climate risk governance. https://hubs.ly/Q02XSCR10

Climate change is amplifying the risk of flooding across Small Island Developing States (SIDS) by influencing the magnitude and/or frequency of extreme precipitation, river flow, and coastal storm surge events. But how many people does this amplified risk impact? In a new study led by the University of Bristol’s Leanne Archer and co-authored by Jeffrey Neal, Professor Paul Bates CBE FRS, Natalie Lord, Laurence Hawker, Tom Collings, Niall Quinn and David Sear, population estimates for all 57 SIDS are calculated for the first time, to provide a consistent methodology for calculating exposure to flood hazard at the 100-year return period, for the present day and in the future against three climate scenarios. Check out our summary to learn more about populations are most at risk of climate-induced flooding: https://lnkd.in/ep-QhftE