Verisk Multiple Peril Crop Insurance Model for India

Enhancements to the Verisk Multiple Peril Crop Insurance (MPCI) Model for India.

Scope

Significant new features and model improvements. In addition, user interface updates improve client ability to price India MPCI risk, and to analyze risk as part of a portfolio.

General model updates

Hazard
  • Updates to the weather catalog.
  • A post-harvest loss module has been added.
  • To help with loss timing for XOL treaties, each event is assigned a day corresponding to some peak loss impact.
  • Each year is assigned a Multivariate ENSO Index for climate variability filtering.
Vulnerability
  • Updated model parameters (representing crop vulnerability to weather perils), based on more recent yield and weather data.
  • Updated threshold yields to reflect changes since 2019 release.
Catalogs and event sets
  • Stochastic catalog(s)
    • New 10,000-year catalog
    • All event IDs are new.
  • Historical event set
    • Five years of growing seasons (2018-2022) added, resulting in an event set of all growing seasons 1979-2022.
Industry Exposure Database
  • Updated to 2023

Touchstone-specific updates

Not applicable.

Touchstone Re-specific updates

The following updates are now available:

  • New geographies and district boundaries for exposure entry and loss export.
  • Updated cluster definitions.
  • Updated threshold yields to reflect changes since 2019 release.
  • Ability to filter simulation years by El Nino-Southern oscillation conditions.
  • Day-of-year of peak loss assigned to each simulation year in loss results and exports.