Using Catastrophe Models

My latest article on the InsNerd platform…

InsNerds.com

Today we have the third part of guest author Nick Lamparelli‘s series on Catastrophe Modeling. Click here for part one and here for part two.

“If you challenge conventional wisdom, you will find ways to do things much better than they are currently done.”
Bill James (author of Baseball Abstracts and Godfather of “ Moneyball”)

In this, my final article on CAT models, I wish to spend some time talking about the output of CAT models, how they are used, interpreted and most importantly misinterpreted. I would also like to inform the reader of the direction this field is headed, and I have added an Additional Resources section for the reader’s further edification.

First, to recap, CAT models are computerized simulations that use scientifically derived physical models to estimate where catastrophic events will occur, how severe they will be, how much damage they will cause to properties…

View original post 2,110 more words


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s