The insurance industry has long been concerned with the impact of catastrophes (CAT) on their financial stability. The reinsurance market exists to smooth our results when a catastrophe strikes to maintain carrier solvency and market stability. Twenty-five years ago, the CAT concerns were hurricane and earthquakes. These exposures were geographically centered and were managed by monitoring the values accumulated in given areas. Managing and reporting your exposure accurately

In the world of “only pay for what you need”, shopping for insurance has taken on a new feel. The decision making about coverages and...