Catastrophe Models Need to Fix “Short Term Focus”: US Treasury
Carriers and state regulators are updating their existing catastrophe models, but more work needs to be done as a changing climate upends loses.
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AI Forces Insurers to Rewrite Risk Models, Senate Panel Told
A Senate Banking Subcommittee hearing underscored how artificial intelligence is simultaneously rewriting insurers’ actuarial playbooks and creating new, hard-to-price exposures that must be quantified to unlock reinsurance capital.
