Hurricane Harvey demonstrates the need for catastrophe modelling to move beyond property losses, said Russell Group managing director, Suki Basi.
The insurance industry needs to better understand the broader risk exposure it has in the event of a catastrophe such as Hurricane Harvey through more sophisticated modelling techniques, according to Suki Basi, managing director for the Russell Group. “Insurance companies need to be able to model what is going on with climate change and how they can help people adapt their lives to it,” she said.