Property/casualty reinsurers suddenly saw the need for catastrophe modeling and risk-concentration data in 1992, after Hurricane Andrew pulverized parts of the Bahamas, South Florida and the Louisiana coast.
Desire for data intensified among casualty reinsurers after the 9/11 terrorist attacks. Life and health reinsurers have begun thirsting for better data ever since the AIDS epidemic broke out in the 1980s, and finally became proactive in seeking better data in the last year or so, sources say.
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