Wall Street firms are gaining access to new “catastrophe” risk models that are adapted to account for wars and other geopolitical shocks, according to multiple reports. The approach extends methodologies long used to forecast natural disasters into scenarios intended to estimate how military conflict can affect financial variables such as energy prices and broader economic conditions. The models are being made available to investors, banks, and insurers to support planning and risk assessment, including evaluating potential impacts on supply chains, commodities, and “geopolitical volatility.” The reporting indicates that experts who previously built and operated natural-catastrophe modeling systems are now applying similar techniques—while adjusting inputs and assumptions—to conflict-related events. In this framing, the models aim to improve how institutions quantify tail risks and uncertainty linked to wars, rather than relying solely on traditional historical or policy-driven assumptions. Overall, the sources describe a growing effort by financial institutions to incorporate military conflict into risk scenarios as conflicts increasingly disrupt markets and financing outcomes.