6 November 2013

Guy Carpenter extends industrial parks database

Guy Carpenter has extended a database of digitised boundaries of industrial parks are across Asia to include Vietnam, Malaysia and South Korea. The database can be used as a tool to better understand and price flood risk in the region.

In 2011, Thailand experienced its worst flooding in years with insured losses estimated at around $15 billion, of which the Thai General Insurance Association attributed more than 90% arising from commercial risks located within industrial parks.

As industrial parks are common in several countries in the region, Guy Carpenter developed a database of digitized boundaries of these parks to support its clients’ ability to analyze the potential for catastrophic losses arising from exposures located within park boundaries.

The first database was completed in 2012 and included industrial parks in China, Taiwan, Thailand and Indonesia. It has now extended it to include Vietnam, Malaysia and South Korea.

“With the shifting of major global manufacturing operations to Asian countries which are affected by various catastrophe perils, it is imperative that our clients are aware of areas of high exposure concentration in these countries,” said David Lightfoot, head of GC Analytics International.

“The extension of the database to cover three new countries signifies the commitment to develop innovative capabilities for additional regions within Asia.”

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