A study of low-temperature snow and ice disaster loss model based on the extreme value theory——the case of Yunnan Province

It is researched the low-temperature snow and ice disaster in catastrophe risk.Based on the data of the loss of low temperature and snow disaster in Yunnan Province from 2004 to 2013 and the thick tail distribution of the loss data,the POT model based on the GPD distribution in the extreme value theory was used to fit the disaster loss.Then,we calculated the VaR and expected Loss of ES.We verified the extreme value distribution of the low-temperature snow and ice disaster losses,and it is significant to the design and pricing of catastrophe insurance products.