Advances in catastrophe modeling technology are enabling carriers to take a more microscopic approach to assessing underwriting risks and predicting losses.History does repeat itself. Between 1989 and 1999, insured losses from hurricanes that struck the United States, when adjusted for inflation, totaled $45.7 billion, according to Insurance Services Office Inc. (ISO), New York.
Until recently, carriers did not use-or have much faith in-catastrophe modeling technology. But recent technical advances are helping carriers better manage their corporate risk portfolios to avoid the cataclysmic underwriting losses suffered during the past decade.
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