Boston — Property/casualty insurers may be bouyed by the relatively moderate nature of the past three hurricanes seasons. Yet, according to a new report from Boston-based Karen Clark & Co., insurers that put too much emphasis on models provided by the three primary independent modeling firms may have less cause to celebrate.
The study found that the near-term models offered by the three major catastrophe modelers—Boston-based AIR Worldwide (AIR), Oakland, Calif.-based EQECAT and Newark, Calif.-based Risk Management Solutions (RMS)—all overestimated hurricane activity in recent years.
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