The final blow
Significant discrepancies between predicted and actual losses suffered by insurers after hurricane Katrina hit in 2005 were a key driver behind subsequent improvements to catastrophe models. Ana Paula Nacif details developments, explains inevitable limitations and outlines new areas of demand
Hurricane Katrina was the costliest and one of the five deadliest hurricanes in US history. With economic losses estimated at $125bn (£64.1bn) - of which $45bn was insured in the private market
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