NU Online News Service, May 20, 2:35 p.m. EDT
Insurers are beginning to embrace the results of the new catastrophe model from Risk Management Services (RMS) after getting over the initial shock of higher collateral reserves insurers may have to accept, a company official said.
Ryan Ogaard, senior vice president for RMS, said the industry is beginning to accept the new catastrophe model despite the fact that it has meant a substantial increase in probable maximum loss estimates.
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