Insurers and risk managers for critical infrastructure such as transport or power networks typically do not account for flooding and extreme winds happening at the same time in their quantitative risk assessments. We explore this potentially critical underestimation of risk from these co‐occurring hazards through studying events using the regional 12 km resolution UK Climate Projections for a 1981–1999 baseline and projections...

Many impactful weather and climate events include two or more variables (like temperature or precipitation) having high or low values (e.g., hot dry summers). Understanding biases in the relationship between modelled variables is important for characterizing uncertainties in the risks associated with compound events. We present a framework for evaluating the relationships between different variables (multi‐variate bias). We il...