CRESTA
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. Those risk zones are essentially based on the observed and expected seismic activity, as well as on other natural disasters, such as droughts, floods and storms. CRESTA zones regard the distribution of insured values within a region or country for easier assessment of risks. CRESTA Zones are the essential basis for reinsurance negotiation and portfolio analysis. Nowadays, CRESTA sets widely accepted standards which apply throughout the international insurance industry. CRESTA zone information is used by most insurers for assessing the insurance catastrophe premiums they will charge. Origin of the name 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. About CRESTA CRESTA has set itself the aim of establishing a globally uniform system for