X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Catastrophe Modeling Software Has Evolved In The Age Of Terrorism

Catastrophic loss has always been a source of major concern for insurers. The premium charged for a risk and the aggregation of risks that an insurer might assume take on greater significance when many policies could incur loss from a single event. As insurers have grown larger, the issue of correlation of risk between individual policies has become increasingly important.

The first tools developed to monitor the problem of correlation involved putting pins representing exposure into maps. Although this process was labor and space intensive, it worked well for tracking fire accumulations. With the addition of new perils that affected more widespread areas than fire, it became outdated.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

 

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.