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Catastrophe planning and response by a property/ casualty insurance company is one of the most important — and difficult — tasks to perform. Why? Even though 39% of the U.S. population lives in coastal counties, underwriters must ensure there isn’t a concentration of risk in CAT-prone areas. Within the context of the variables of climate change and catastrophe frequency, actuaries must price catastrophe risk accurately. And risk managers bear the responsibility of optimizing economic capital amid an ever-changing risk transfer environment and cost of capital.

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