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Technology report - Modelling the Future.
(From Reinsurance)
As Katrina made its ominous way toward landfall near New Orleans, it was being watched by a large number of eyes, many of them electronic.
Working out where a hurricane is going is now a vitally important part of the (re)insurance industry. Once its destination in known, you can start to guess what kind of area it might hit and what its impact would be.
Modelling has come a long way in the almost 30 years that it has been used by the (re)insurance industry. The first models were created in Australia in the 1970s in the wake of several cyclones - one of which, Cyclone Tracy, caused massive damage to the city of Darwin on ...
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