Natural catastrophes are becoming more frequent and severe. This was the scene in 2018 Mexico Beach, Fla., in the aftermath of Hurricane Michael. (Terry Kelly/Shutterstock)
2022 is on track to be one of the warmest years in recording history at the same time that natural disasters are becoming ever more severe.
In recent years, insurers have become reliant on various catastrophe models to measure the impact of these devastating events. However, many of these models aren't always accurate as natural catastrophes can be unpredictable. It follows that scrutiny of current catastrophe models is beginning to grow.
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