IMPACT FORECASTING RELEASES RIOT MODELLING TOOL FOR INDONESIA

Impact Forecasting, a unit of reinsurance broker Aon Benfield, has launched a catastrophe model for insurers and reinsurers that assesses likely losses from riots in various parts of Indonesia. "With the fourth largest population in the world and a rapidly expanding insurance market it is vital for insurers and reinsurers to fully comprehend the threat that can stem from rioting in Indonesia to avoid unforeseen losses", Aon Benfield said. Aon Benfield Asia Pacific CEO Malcolm Steingold observed that "in the last 20 years rioting in Indonesia has led to over 6,900 fatalities and damage to over 40,000 properties highlighting the destructive properties of riotous behaviour". Mr Steingold said that "by understanding this risk, it will help insurers to grow their business in Indonesia while being fully aware of the risks and hotspots for violence". The model includes 600 events, with the location of central hotspots and the catalyst for each riot.