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Risk: Weather models - A brighter forecast.
(From Reinsurance)
Byline: Dr Robert Muir-Wood.
While many reinsurers may assume that all the technical issues underlying catastrophe (cat) models are now solved, the past 2-3 years have shown some significant advances in the meteorological understanding of extreme storms on both sides of the North Atlantic with direct application to cat modelling.
The focus of the latest US hurricane model is on obtaining a complete representation of the physical processes that determine hurricane structure and evolution, and to combine the latest scientific understanding that has emerged from meteorology and wind engineering with innovations in stochastic ...
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