ExIStA Member Nominated for Impact Award

Professor David Stephenson and his team have been nominated for an Exeter Impact Award under the Outstanding Impact in Commerce and Industry category for their work on insurance risk pricing for clusters of natural catastrophes. The winner will be announced at a gala dinner being held on December 7th which will celebrate the diverse range of research taking place across the University of Exeter and the benefits that their research brings to the World. Bringing together academics and external organisations focusing on research projects at the highest level, the awards will recognise successes in knowledge exchange, collaborative working and partnership which have taken research from Higher Education and benefitted the wider economy and society. David's work is one of four projects shortlisted for an award in this category with 27 projects nominated overall across 7 categories. These shortlisted projects were drawn from nearly 100 entrants across the University.

"Hurricanes and European windstorms are the largest source of insured catastrophe losses on the planet", says lead researcher David Stephenson." Research at Exeter has stimulated the insurance industry to address the increased risks caused by the clustering of such storms, which has led to more reliable insurance pricing". In February 2006, discussion between Willis Re and Professor Stephenson helped create the Willis Research Network – the world’s largest partnership between academia and the insurance industry.Research funded by leading global reinsurance firm Willis Re and AXA aims to understand the collective risk of storms, such as the European windstorms in 1990 and 1999, when European losses exceeded $10bn.

For more information on the awards, visit the Exeter Impact Awards web site.

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