Pricing and risk modelling

We offer a range of products and services that use past and future weather information to help you understand the impact of extreme events on your pricing and risk models.

A storm brewing over a town  
European and global windstorm data

"Windstorm Klaus may cost insurers €1.5 bn, insurance data provider Perils has said"

Post magazine, 12 May 2009

Windstorms are a significant, material risk to insurers and reinsurers in Europe and across the world. Having access to an extensive archive of data from sites across the globe, ranging back decades, means we are able to provide windstorm data hours after the event has occurred. This enables you to quickly understand the impact to your book and use the information to analyse the ongoing risks.

We also provide information for use in catastrophe models and consultancy services in how best to make use of it.

Consultancy reinsurance

MORECS (The Met Office Rainfall and Evaporation Calculation System)

MORECS is the only nationwide service giving real-time assessments of rainfall, evaporation and soil moisture. Results can be automatically faxed or emailed to you, or data can be supplied on disk for fast input into your own models.

MORECS provides a reliable, UK-wide assessment of general soil moisture status, divided into areas 40 km square. Select the grids relevant to your needs and use MORECS results to assess water resources in that area, helping you to make faster decisions on the best course of action. Analysis can cover different soil, crops and topography, and all variations are taken into account for more reliable results.

Illustration of the hydro-cycleMORECS is used by water authorities and insurance companies to:

  • design more reliable river-flow models;
  • predict actual flows;
  • predict evaporation losses from open reservoirs;
  • support other data in tracking and assessing leakage;
  • enable more effective planning and assessment of drainage catchments;
  • monitor the effectiveness of drought orders and hosepipe bans;
  • model and understand risks of subsidence and droughts.

For further information about working with us on weather solutions contact our Customer Centre or email water@metoffice.gov.uk.

Last updated: 9 January 2014