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Speaking Of: Catastrophe Modeling

A recent decision by Florida insurance regulators to reject Risk Management Solutions' short-term catastrophe model illustrates the controversial nature of the science of prediction.

By Eric Gilkey | Updated on July 03, 2007

A recent decision by Florida insurance regulators to reject Risk Management Solutions’ short-term catastrophe model illustrates the controversial nature of the science of prediction. Catastrophe modeling expert Tom Stone spoke with Claims’ to shed light on the science behind the models, how recent catastrophes have affected them, and accusations that insurers manipulate models to unfairly raise rates.

How much science is there to predicting catastrophic losses?

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