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Insurers are beginning to embrace the results of the new catastrophe model from Risk Management Services after getting over the initial shock of higher collateral reserves insurers may have to accept.

Evidence that catastrophe models may not be as accurate as some carriers might expect has one insurance broker cautioning insurers that they need to examine their loss estimates more closely.

Aon Benfield launched what it says is the first storm-surge model for Germany to help reinsurers and insurers quantify risk in an “underdeveloped line of coverage.”

Aon Benfield launched what it says is the first storm-surge model for Germany to help reinsurers and insurers quantify risk in an “underdeveloped line of coverage.”

State Farm has been denied an average statewide 14.3 percent homeowners rate increase in Louisiana.

The Japan earthquake and tsunami revealed a flaw in catastrophe modelers’ planning, as modelers pointed to the fact that they did not account for the complete devastation that hit the island nation.

By the end of next year, insurers and reinsurers doing business in the European Union will have to demonstrate to regulators there that they have sufficient…

Catastrophe models have become so ingrained in the insurance industry that a model revision can have profound effects on all aspects of the business, especially when loss results for some books of business can double.