{
  "id": "term-cat-model",
  "type": "term",
  "languages": {
    "en": {
      "id": "term-cat-model",
      "lang": "en",
      "type": "term",
      "title": "Catastrophe Model (Cat Model)",
      "shortDefinition": "A catastrophe model simulates the frequency and severity of natural catastrophe events and their expected losses to an insured portfolio.",
      "synonyms": [
        "Cat Model"
      ],
      "linesOfBusiness": [
        "Property",
        "Reinsurance"
      ],
      "jurisdictions": [],
      "tags": [
        "Risk Modeling",
        "Reinsurance"
      ],
      "relations": {
        "relatedTerms": [
          "term-cat-bond"
        ],
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        "insurableVia": [],
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        "comprises": [],
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        "complementedBy": []
      },
      "attribute": null,
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      "standards": [],
      "reviewStatus": "expert-reviewed",
      "reviewedBy": "Guido Hesse, Hesse Group Holding AG",
      "lastReviewed": "2026-09-04",
      "version": "0.1.0",
      "updated": "2026-08-31",
      "generated": {
        "by": "process:reconstructed",
        "at": "2026-08-31T00:00:00.000Z"
      },
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      "staleAfter": null,
      "url": "https://hgh.ch/lexikon/en/knowledge/term/catastrophe-model/",
      "alternateUrl": "https://hgh.ch/lexikon/de/wissen/begriff/catastrophe-model/",
      "body": "## Concept\n\nA catastrophe model is a computer-based simulation model that represents the frequency, intensity, and spatial extent of natural catastrophe events — such as earthquake, windstorm, flood, or hail — and calculates from this the expected insured losses for a specific portfolio.\n\n## Model Components\n\nCatastrophe models typically consist of a hazard module (frequency and intensity of physical events), a vulnerability module (the susceptibility of insured properties to damage depending on construction and location), and a financial module (converting the physical loss into an insured monetary loss, taking deductibles, limits, and reinsurance into account).\n\n## Relevance for Underwriting and Capital Management\n\nCatastrophe models are an indispensable tool for accumulation control, pricing of natural hazard covers, determining reinsurance structure, and calculating capital requirements under Solvency II; because different model vendors (such as RMS, AIR/Verisk, or CoreLogic) can produce significantly diverging estimates, insurers frequently use multiple models in parallel to address model uncertainty."
    },
    "de": {
      "id": "term-cat-model",
      "lang": "de",
      "type": "term",
      "title": "Catastrophe Model (Cat Model)",
      "shortDefinition": "Ein Cat Model simuliert die Häufigkeit und Schwere von Naturkatastrophenereignissen und deren erwartete Schäden an einem versicherten Portfolio.",
      "synonyms": [
        "Naturkatastrophenmodell"
      ],
      "linesOfBusiness": [
        "Sach",
        "Rückversicherung"
      ],
      "jurisdictions": [],
      "tags": [
        "Risikomodellierung",
        "Rückversicherung"
      ],
      "relations": {
        "relatedTerms": [
          "term-cat-bond"
        ],
        "partOf": [],
        "appliesTo": [],
        "regulatedBy": [],
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        "insurableVia": [],
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        "comprises": [],
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      "reviewStatus": "expert-reviewed",
      "reviewedBy": "Guido Hesse, Hesse Group Holding AG",
      "lastReviewed": "2026-09-04",
      "version": "0.1.0",
      "updated": "2026-08-31",
      "generated": {
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        "at": "2026-08-31T00:00:00.000Z"
      },
      "verified": [
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      ],
      "staleAfter": null,
      "url": "https://hgh.ch/lexikon/de/wissen/begriff/catastrophe-model/",
      "alternateUrl": "https://hgh.ch/lexikon/en/knowledge/term/catastrophe-model/",
      "body": "## Begriff\n\nEin Cat Model ist ein computergestütztes Simulationsmodell, das die Häufigkeit, Intensität und räumliche Ausbreitung von Naturkatastrophenereignissen – etwa Erdbeben, Sturm, Überschwemmung oder Hagel – abbildet und daraus die erwarteten versicherten Schäden für ein konkretes Portfolio berechnet.\n\n## Modellkomponenten\n\nCat Models bestehen typischerweise aus einem Gefahrenmodul (Häufigkeit und Intensität physischer Ereignisse), einem Vulnerabilitätsmodul (Schadenanfälligkeit der versicherten Objekte in Abhängigkeit von Bauweise und Lage) und einem Finanzmodul (Umrechnung des physischen Schadens in einen versicherten Geldschaden unter Berücksichtigung von Selbstbehalten, Limiten und Rückversicherung).\n\n## Bedeutung für Underwriting und Kapitalmanagement\n\nCat Models sind unverzichtbares Instrument für die Kumulkontrolle, die Preisfindung von Naturgefahrendeckungen, die Bestimmung der Rückversicherungsstruktur sowie die Kapitalanforderungsberechnung nach Solvency II; da unterschiedliche Modellanbieter (etwa RMS, AIR/Verisk oder Corelogic) teils erheblich abweichende Schätzungen liefern, verwenden Versicherer häufig mehrere Modelle parallel, um Modellunsicherheit zu adressieren."
    }
  }
}