Catastrophe modelling experts told actuaries at an industry conference that they need to understand, use and interpret catastrophe modeling results correctly to impact the insurance industry's future loss potential.
Their comments at the Casualty Actuarial Society's 2006 spring meeting in Fajardo, Puerto Rico were reported by CAS.
"Catastrophe models are tools that allow you to evaluate risk within a framework and provide valuable information for effective risk management," said David A. Lalonde, senior vice president, AIR Worldwide Corp.
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