One of the biggest gusts of change that blew through the industry in 2011: The revisions that catastrophe-modeler Risk Management Solutions made to its U.S. Hurricane Model.
Loss results for portfolios that RMS analyzed, based on the revisions, increased from 20 percent to as much as 100 percent.
"We didn't want to be an event," says Ryan Ogaard, senior vice president of model management for RMS. "But these were big changes. We understand that."
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