Improving NatCat risks causes actuaries to struggle with their models


column by Loudina Erasmus

Loudina Erasmus is a member of the Sustainability and Climate related Risks working group

CATASTROPHE – an event causing great and sudden damage or suffering. This can be the loss of a loved one on a personal level or a fire, flood, or earthquake impacting an entire community. Nobody wants to contemplate the possibility of a catastrophe affecting them, which often leads to inadequate preparation. Envisioning potential scenarios before they unfold is a practice often neglected.

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This column represents the opinion of the author, and not necessarily the opinion of the AAE.

This article was published in The European Actuary No. 35 – September 2023