Insurers Seek Handle On Catastrophe Exposure With best practices, modeling can help carriers cope with disaster management
In 2004, catastrophe risk and its effective management once again became prominent topics of discussion in the insurance industry. The occurrence of four major hurricanes within a span of six weeks came as an unwelcome surprise to many insurers and has spurred quite a few to evaluate how they can better plan for and protect their business from catastrophes.
Today, catastrophe modeling can be used for a wide range of insurance decision-making, including ratemaking, underwriting decisions, reinsurance purchasing, new business opportunities, portfolio optimization and analyzing exposure concentrations.
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