Nat. Hazards Earth Syst. Sci., 12, 1769–1782, 2012 www.nat-hazards-earth-syst-sci.net/12/1769/2012/ Natural Hazards doi:10.5194/nhess-12-1769-2012 and Earth © Author(s) 2012. CC Attribution 3.0 License. System Sciences The spatial structure of European wind storms as characterized by bivariate extreme-value Copulas A. Bonazzi, S. Cusack, C. Mitas, and S. Jewson Risk Management Solutions, Peninsular House, 30 Monument Street, London, UK Correspondence to: A. Bonazzi (
[email protected]) Received: 20 October 2011 – Revised: 4 March 2012 – Accepted: 30 March 2012 – Published: 29 May 2012 Abstract. The winds associated with extra-tropical cy- Re’s NATHAN database trended to 2008 values by Barredo, clones are amongst the costliest natural perils in Europe. 2010). Barredo (2010) and Klawa and Ulbrich (2003) show Re/insurance companies typically have insured exposure at evidence that this storm severity is combined with a fre- multiple locations and hence the losses they incur from any quency to produce large average annual losses. These sig- individual storm crucially depend on that storm’s spatial nificant impacts from European windstorms generate much structure. Motivated by this, this study investigates the spa- interest in risk management. tial structure of the most extreme windstorms in Europe. The Probabilistic risk assessment is generally based on the con- data consists of a carefully constructed set of 135 of the most volution of hazard, vulnerability, and economic or insured damaging storms in the period 1972–2010. Extreme value exposure (Petak and Atkisson, 1982). Applications of risk copulas are applied to this data to investigate the spatial de- management require information on extreme events to an- pendencies of gusts.