SCOR is backing a new Catastrophe event research project in conjunction with Mignan Risk Analytics GmbH and collaborators from the University of Lisbon, titled: A Generic Multi-Risk (GenMR) Open-Source Platform to Model Compound Catastrophes.

This project develops an open-source platform that simulates compound catastrophes from first physical principles, capturing risks that emerge from complex interactions in a virtual environment.

Many of the costliest catastrophes result from compound events, i.e., domino and cascading effects, and from other risk amplifying factors that can trigger super-catastrophes. Because of their complexity and cross-peril nature, most research has focused on limited interactions under specific conditions, making systematic study difficult.

The Generic Multi-Risk (GenMR) framework was conceived to address this gap by encoding event interactions in a simulated environment that is simple, yet realistic enough to capture diverse dynamical processes. While the 2024 release of the CAT Risk Modelling Sandbox (with the textbook  Introduction to Catastrophe Risk Modelling) offered 10 perils and 5 environmental layers, it lacked multi-risk capacity. This project merges and extends both initiatives by implementing additional perils, environmental layers, and risk drivers, delivering a controlled, transparent, and comprehensive platform for studying compound event dynamics.

Go to the project page