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While Florida insurers have long used catastrophe models to assess portfolio-level catastrophe risk, leading carriers assess catastrophe risk before the policy is underwritten. Incorporating catastrophe modeling into the underwriting process is easier than most assume.

Technology has advanced to the point where an individual risk can be analyzed as part of an automated underwriting process. Furthermore, insurers can minimize the impact on the current underwriting workflow by capturing the data required for sound catastrophe risk management as part of the replacement-cost estimation process.

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