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Cat Models Only As Good As Given Data

Insurance companies rely on catastrophe models to provide reliable estimates of loss, whether for managing risk over the long term or for understanding their loss potential in real time as an actual event unfolds.

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By Uday Virkud and George Davis

Insurance companies rely on catastrophe models to provide reliable estimates of loss, whether for managing risk over the long term or for understanding their loss potential in real time as an actual event unfolds. However, the reliability of model output is only as good as the quality of the exposure data used as input.

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