To model for natural disasters, insurance companies rely on modeling expertise from firms such AIR Worldwide, RMS and EQECAT.
By doing so, they can avail themselves of a deep well of scientific knowledge and models consistently improved to reflect the latest research. Yet, insurers will have to choose between the models or select multiple models a find a way to blend them. Oddly, this approach has become more difficult lately as the primary hurricane models from the vendors become more divergent, notes AIR in a new report, “Assessing U.S. Hurricane Risk: Do the Models Make Sense?”
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