What is catastrophe modeling?

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Accepted Answer

Catastrophe modelling is the process of using mathematical models to estimate the potential losses from natural disasters.

It involves analyzing data on historical events and using that data to create models that can predict the likelihood and severity of future events.
These models are used by insurance companies, governments, and other organizations to assess risk and plan for potential disasters.
Examples of catastrophes that can be modelled include hurricanes, earthquakes, floods, and terrorist attacks.
Catastrophe modelling can help to inform decisions about building codes, emergency response plans, and insurance premiums.
The accuracy of catastrophe models depends on the quality of the data used and the assumptions made in the modelling process.

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