Extreme, irregular climate patterns in recent years have put pressure on insurers worldwide to adopt a fresh take on risk strategy, according to Munich Re.

“Weather patterns that used to be reliable, such as dry and rainy seasons but also hot and cold spells, have become more unpredictable,” the German reinsurer says, as it calls for “new approaches” in risk management.

“This underlines once again how important it is for insurers to be familiar with the results of the latest research and, where necessary, to incorporate them into their risk models.”

Demand for weather insurance and multi-peril agriculture covers will probably increase as companies and the farming community seek ways to limit potential income losses.

Munich Re says the scientific community is still debating whether climate change, including a pronounced warming in the Arctic, is responsible for the different weather patterns.

“It is not yet possible to produce causal proof, but there is a logical chain of indices,” Munich Re Head of Geo Risks Research Peter Hoeppe said.

Unusual weather events last year included severe winter snowfalls in the US, windstorms and floods in Britain and snowstorms in Japan.

The snowstorms in Japan were the costliest natural catastrophes last year, producing a total loss of $US5.9 billion ($7.58 billion) and insured losses of $US3.1 billion ($3.98 billion).

“The enormous damage caused by the snowstorms… showed that it makes sense to invest further in the resilience of buildings against this peril as well,” Munich Re Asia-Pacific board member Ludger Arnoldussen said. “And insurance will continue to play a useful role in safeguarding against the financial consequences of such events.”

Munich Re says social media is becoming a viable way for insurers to gather loss estimates quickly and accurately.