Recent revisions to its cat model by Risk Management Solutions could result in double loss indications for some portfolios—or even more.
But Frank Pierson, executive vice president and chief technical officer of independent reinsurance brokerage firm Holborn Corp., said reinsurers may be able to absorb the model changes without huge increases because they already thought the models were coming in low.
"Now that the models incorporate the [2004 and 2005 hurricane] losses, the impact on primary insurance could be moderated by the prices reinsurers were already using."
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