CRESTA (Catastrophe Risk Evaluation and Standardizing Target Accumulations) was founded as a joint project of Swiss Reinsurance Company, Gerling-Konzern Globale Reinsurance Company, and Munich Reinsurance Company. CRESTA has set itself the aim of establishing a globally uniform system for the accumulation risk control of natural hazards - particularly earthquakes, storms and floods. Nowadays, CRESTA sets widely accepted standards apply throughout...
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CRESTA (Catastrophe Risk Evaluation and Standardizing Target Accumulations) was founded as a joint project of Swiss Reinsurance Company, Gerling-Konzern Globale Reinsurance Company, and Munich Reinsurance Company. CRESTA has set itself the aim of establishing a globally uniform system for the accumulation risk control of natural hazards - particularly earthquakes, storms and floods. Nowadays, CRESTA sets widely accepted standards apply throughout the international insurance industry. CRESTA zone information is used by most insurances for assessing the insurance rates they will charge.
While the acronym CRESTA stands for Catastrophe Risk Evaluation and Standardizing Target Accumulations, the name was derived from the name of the hotel (Cresta Hotel) where the founding meeting occurred, and the subsequent creation of a suitable acronym to correspond to the name.
CRESTA has set itself the aim of establishing a globally uniform system for the accumulation risk control of natural hazards -...
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