Expert: Model revisions prompt industry to change how it views risk

07/29/2012 | Business Insurance (tiered subscription model)

Many insurance underwriters have combined the results of multiple catastrophe models as they change their view of risk because of the innate volatility in such models, said John DeMartini of Towers Watson. "All these incidents from 2011 and the change in the RMS model got people thinking that they need to develop their view of [catastrophic] risk. We should not be entirely model-dependent; we have other tools and analyses available to us," DeMartini said.

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