An insurers group said when the nation's insurance regulators meet this week, it will urge them to allow insurers to use the best natural catastrophe loss models available to manage risks.
The American Insurance Association, Washington, will make its case during a hearing Friday that will be held during the fall meeting of the National Association of Insurance Commissioners in Washington.
Eric Goldberg, AIA associate general counsel, said in a statement that catastrophe models are very important for a stable insurance market. Cat models use computers to estimate potential loss to property due to a catastrophic event.
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