NAT CATS - Can we prevent catastrophe blind spots?
Source: Asia Insurance Review | Jul 2015
Natural catastrophes continue to surprise us despite the vast improvements made in catastrophe modelling tools. Mr Vineet Kumar of Swiss Re says most of these surprises are avoidable and explains the lessons learnt from the Christchurch earthquake, the danger of relying on past loss experiences alone and that cognitive biases and market perceptions can hinder the discovery of blind spots.
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