KCC White Paper - Catastrophe Models versus Climate Models: Substitutes or Complements
March 5, 2024
Climate models are not substitutes for catastrophe models. Rather, climate models can complement the catastrophe models.
KCC’s latest white paper explores the differences between catastrophe models and climate models and delves into the ways in which climate models can complement the catastrophe models to assess and manage extreme event risk. The output and information derived from the climate models can be used to create “climate-conditioned” catastrophe models, providing (re)insurers with a more accurate view of current and future risk.
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