Foreword
Benfield and PartnerRe are proud to present the third edition of the Hazard & Risk Science Review.

The Hazard & Risk Science Review is a unique digest of the latest academic and technical research into natural hazards. Since the launch of the first edition in 2004, the Review has become established as an important reference point for the latest summarized research in this field.

With claims to property insurers from natural disasters totalling USD78 billion in 2005 – USD65 billion of which were triggered by hurricanes Katrina, Rita and Wilma in the United States - there remains a need for the industry to be kept fully informed of the latest research into emerging risk science in order to develop appropriate insurance and reinsurance solutions.

The 2006 Review, commissioned once again from the Benfield UCL Hazard Research Centre, provides a synopsis of over 75 scientific papers published during the past 12 months. It is focused on the four major areas of hazards that are relevant to catastrophe insurance and reinsurance - atmospheric, geological, hydrological and climate change.

Both of our organisations have a long-standing commitment to research and we hope that this review will continue to assist the industry in developing its understanding of emerging risk science.