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Lockton: Holes in Models Exposed by Superstorm Sandy

Catastrophe models will continue to be exposed by events like Superstorm Sandy because they can fail to contemplate all possible sources of loss, says Lockton Cos.

By Chad Hemenway | Updated on February 07, 2013

Catastrophe models will continue to be exposed by events like Superstorm Sandy because they can fail to contemplate all possible sources of loss, says Lockton Cos.

A report by Jeff Tennis, manager of catastrophe analytics at Lockton, says model deficiencies are visible “particularly for areas with a limited historical record,” but he adds it “would be naïve to fully discredit” these loss-prediction tools.

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