{"id":958975,"date":"2026-05-06T09:19:00","date_gmt":"2026-05-06T13:19:00","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/willis-and-cornell-university-launch-partnership-focused-on-correlated-catastrophe-research\/"},"modified":"2026-05-06T09:19:00","modified_gmt":"2026-05-06T13:19:00","slug":"willis-and-cornell-university-launch-partnership-focused-on-correlated-catastrophe-research","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/willis-and-cornell-university-launch-partnership-focused-on-correlated-catastrophe-research\/","title":{"rendered":"Willis and Cornell University launch partnership focused on correlated catastrophe research"},"content":{"rendered":"<div class=\"mw_release\">\n<p>LONDON, May  06, 2026  (GLOBE NEWSWIRE) &#8212; Willis, a WTW business (NASDAQ: WTW), today announced a new scientific partnership with\u00a0researchers at Cornell University and the Atkinson Center for a Sustainable Future to\u00a0identify\u00a0evolving\u00a0threats from correlated natural catastrophes. The research, funded by WTW through an initial one-year funding agreement, will offer insurers and reinsurers new insights into the synchrony of major perils and its potential effects on the industry\u2019s collective exposure to catastrophic losses.\u00a0\u00a0<\/p>\n<p>Catastrophic natural hazards cause large losses for insurers and reinsurers, so the industry pays close\u00a0attention to\u00a0aggregate behavior of tropical cyclones, wildfires, severe convective storms, and other leading perils.\u00a0The insurance sector relies on geographic diversification to reduce its collective exposure to natural catastrophes, assuming that major catastrophes are not likely to occur in the same year in\u00a0different parts\u00a0of the world. Historically, peril-to-peril correlations have been\u00a0weak,\u00a0and statistical models do not\u00a0generally justify\u00a0holding\u00a0additional\u00a0capital to guard against the possibility of multiple, synchronized catastrophic events.\u00a0<\/p>\n<p>But what has happened in the past may not remain the same in the future. The Earth\u2019s climate is changing, and\u00a0we do not yet know how this affects correlations across perils. Through this collaboration, experts at Cornell and Willis will\u00a0examine\u00a0whether major perils have already become more correlated in the present day and model the expected evolution of correlated catastrophes over the next one to five years. At Cornell, the research will be supported by the Atkinson Center for Sustainability and carried out by Dr. Jonathan Lin, Dr. Toby Ault, and Dr. Flavio Lehner in the university&#8217;s Earth and Atmospheric Sciences Department.\u00a0<\/p>\n<p>Scott St. George, Head of Weather and Climate Research for the Willis Research Network, said: \u201cIn a changing world, we\u00a0can\u2019t\u00a0afford to look only in the rearview mirror. Geographic diversification has served the insurance industry well in the past, but if catastrophes become more correlated, that strategy will no longer be valid. Our partners at Cornell will help us\u00a0determine\u00a0the true risk of correlated catastrophes in the present day and get prepared for the possibility of greater synchrony\u00a0in the near future.\u201d\u00a0<\/p>\n<p>Cameron Rye, Director of Natural Catastrophe Analytics for Willis Re, said: \u201cUnderstanding how multiple natural perils may align in a warming world is becoming increasingly important for reinsurers, who have traditionally modelled the risk from different perils independently. By combining Cornell\u2019s\u00a0cutting-edge\u00a0research with Willis\u2019s deep industry experience, we can give our clients clearer visibility into evolving catastrophe risks and support more resilient\u00a0decision-making.\u201d\u00a0<\/p>\n<p>Prof. Toby Ault, Associate Professor in the Department of Earth and Atmospheric Sciences at Cornell University added: &#8220;We&#8217;re excited to work with WTW to translate cutting-edge climate\u00a0and\u00a0atmospheric science into actionable insights for the insurance industry. Our research has shown that to accurately assess\u00a0correlated risks in a changing climate, one needs to account for the chaotic nature of weather through large ensemble simulations and physics-informed statistical analysis. By combining our expertise in drought research, climate variability, and hurricane risk with WTW&#8217;s industry knowledge, we can better prepare for the complex climate risks of the future.&#8221;<\/p>\n<p>\n        <strong>About WTW<\/strong>\u00a0<br \/>At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people,\u00a0risk\u00a0and capital. Leveraging the global view and local\u00a0expertise\u00a0of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their\u00a0workforce\u00a0and maximize performance.\u00a0<\/p>\n<p>Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success\u2014and provide perspective that moves you.\u00a0<\/p>\n<p>\n        <strong>About Cornell University<\/strong>\u00a0<br \/>Cornell University is an Ivy League and statutory land-grant research university\u00a0located\u00a0in Ithaca, New York. Founded in 1865, Cornell is consistently ranked among the world&#8217;s leading academic institutions, with strengths in atmospheric sciences, engineering, and environmental research. The university&#8217;s Department of Earth and Atmospheric Sciences is internationally recognized for its\u00a0leadership\u00a0in climate science, drought research, and applied\u00a0climatology.\u00a0<\/p>\n<p>\n        <strong>About the Atkinson Center\u00a0<\/strong>\u00a0<br \/>The Atkinson Center for Sustainability supports interdisciplinary research on climate risk and resilience, helping translate Cornell\u2019s academic\u00a0expertise\u00a0into practical insights with real-world impact.\u00a0<\/p>\n<p>\n        <strong>Media contacts<\/strong>\n      <\/p>\n<p>Jo Barrett<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=aHKvhZm8FOkiElUFMYtfNZHTXr-9APF5mwb1BCkshK1xSHfTbJfYsbT1dMLm3y94p7IaxqlhekbUpjCPXqs_eO2B2jKq3z6lo3w9iOvKueo=\" rel=\"nofollow\" target=\"_blank\">Jo.Barrett@wtwco.com<\/a>\u00a0\/ + 44 7940 703911<\/p>\n<p>Lauren Ryan<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=TmzHFhZs3cz0qf7X7Fk6LJGThVXuHs2HnvgdtKVmrR0krqS8Ml471D40w1X4TyBjqJqwO58n1xzE6AaKNlO1q6NoO7qTSnRE4SGR6z9VUsk=\" rel=\"nofollow\" target=\"_blank\">Lauren.Ryan@wtwco.com<\/a>\u00a0\/ +1 845 598 4895<\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTcxMzE3NyM3NTgzNjAzIzIwMTA4MTE=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/YmZmN2E2MDAtYmI5NS00YjNlLTlhMmYtM2MyNGVhMjVkY2NkLTEwMjIzODQtMjAyNi0wNS0wNi1lbg==\/tiny\/Willis-Towers-Watson-US-LLC.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>LONDON, May 06, 2026 (GLOBE NEWSWIRE) &#8212; Willis, a WTW business (NASDAQ: WTW), today announced a new scientific partnership with\u00a0researchers at Cornell University and the Atkinson Center for a Sustainable Future to\u00a0identify\u00a0evolving\u00a0threats from correlated natural catastrophes. The research, funded by WTW through an initial one-year funding agreement, will offer insurers and reinsurers new insights into the synchrony of major perils and its potential effects on the industry\u2019s collective exposure to catastrophic losses.\u00a0\u00a0 Catastrophic natural hazards cause large losses for insurers and reinsurers, so the industry pays close\u00a0attention to\u00a0aggregate behavior of tropical cyclones, wildfires, severe convective storms, and other leading perils.\u00a0The insurance sector relies on geographic diversification to reduce its collective exposure to natural catastrophes, assuming that major catastrophes are not &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/willis-and-cornell-university-launch-partnership-focused-on-correlated-catastrophe-research\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Willis and Cornell University launch partnership focused on correlated catastrophe research&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-958975","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Willis and Cornell University launch partnership focused on correlated catastrophe research - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/willis-and-cornell-university-launch-partnership-focused-on-correlated-catastrophe-research\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Willis and Cornell University launch partnership focused on correlated catastrophe research - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"LONDON, May 06, 2026 (GLOBE NEWSWIRE) &#8212; Willis, a WTW business (NASDAQ: WTW), today announced a new scientific partnership with\u00a0researchers at Cornell University and the Atkinson Center for a Sustainable Future to\u00a0identify\u00a0evolving\u00a0threats from correlated natural catastrophes. The research, funded by WTW through an initial one-year funding agreement, will offer insurers and reinsurers new insights into the synchrony of major perils and its potential effects on the industry\u2019s collective exposure to catastrophic losses.\u00a0\u00a0 Catastrophic natural hazards cause large losses for insurers and reinsurers, so the industry pays close\u00a0attention to\u00a0aggregate behavior of tropical cyclones, wildfires, severe convective storms, and other leading perils.\u00a0The insurance sector relies on geographic diversification to reduce its collective exposure to natural catastrophes, assuming that major catastrophes are not &hellip; Continue reading &quot;Willis and Cornell University launch partnership focused on correlated catastrophe research&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/willis-and-cornell-university-launch-partnership-focused-on-correlated-catastrophe-research\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2026-05-06T13:19:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTcxMzE3NyM3NTgzNjAzIzIwMTA4MTE=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/willis-and-cornell-university-launch-partnership-focused-on-correlated-catastrophe-research\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/willis-and-cornell-university-launch-partnership-focused-on-correlated-catastrophe-research\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Willis and Cornell University launch partnership focused on correlated catastrophe research\",\"datePublished\":\"2026-05-06T13:19:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/willis-and-cornell-university-launch-partnership-focused-on-correlated-catastrophe-research\\\/\"},\"wordCount\":701,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/willis-and-cornell-university-launch-partnership-focused-on-correlated-catastrophe-research\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=OTcxMzE3NyM3NTgzNjAzIzIwMTA4MTE=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/willis-and-cornell-university-launch-partnership-focused-on-correlated-catastrophe-research\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/willis-and-cornell-university-launch-partnership-focused-on-correlated-catastrophe-research\\\/\",\"name\":\"Willis and Cornell University launch partnership focused on correlated catastrophe research - 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