Aon’s Global Reinsurance Clients team today announces its sponsorship of an event that will address the impact of climate extremes that occur close together in space or time.

The Workshop on Correlated Extremes, which takes place on May 29-31 at Columbia University in New York, will bring together researchers who have contributed directly to the topic or whose work is aligned to key aspects of this field. Steve Bowen, Impact Forecasting Director and Meteorologist, will be speaking at the event along with leading researchers in the area of correlated extremes.

Aon’s sponsorship of the event demonstrates the importance of the relationship between academia and the risk management industry. Based on science, research and extensive perils data, its Impact Forecasting team has developed more than 100 probabilistic and scenario models spanning 10 perils and over 60 territories, which assist re/insurers to manage their global peak zone and emerging markets risks. This allows the firm to structure effective reinsurance programmes on behalf of its re/insurer clients, and to assist them to manage capital based on more accurate model results.

Bruce Selby Bennett, Chairman of Global Reinsurance Clients, said: “Aon is pleased to be actively involved in helping to bring together researchers to discuss best practices, themes, and definitions around the topic of extreme weather. We will use output from this event and the latest research into extreme weather to continue to inform the development of our catastrophe models and risk managements solutions.”