Complex manmade accumulation events are particularly difficult to model because there are human factors — unlike modeling damage from a hurricane — both in the cause and prevention of the events and the claims in the aftermath of an event. (treety/Shutterstock.com)
One of the most important parts of assessing and managing perils is catastrophe risk management, especially as climate change threatens to tighten its grip. For insurers, reinsurance represents an important way to help balance the coverage equation.
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