Natural Hazards & Risk Prediction
As the dominant scientific organization on the island of Bermuda, BIOS utilizes its connections with the scientific community to bring valuable unbiased information to Bermuda-based decision-makers in both the governmental and corporate sectors.
With its robust insurance and reinsurance market, Bermuda has earned the title of “world’s risk capital.” To help inform this industry’s assessment of catastrophe risk, BIOS formed Risk Prediction Initiative (RPI) in 1993. As one of the first programs to facilitate communication between the scientific and business community, RPI supported and promoted the research of world-class scientists from numerous academic organizations who conducted research on natural hazards. RPI also undertook research focused on hurricane risk specific to Bermuda, in addition to its traditional focus on global catastrophic risk.
Currently, activities at RPI are suspended; however, planning is underway for a new phase of operations in collaboration with our partner, the Arizona State University (ASU) Global Futures Laboratory. Together with ASU, we are developing an “RPI 2.0” that will be focused on climate and finance risk, as well as mitigation strategies for reducing the impacts of rising CO2 on Earth systems, both ecological and human.