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 Hurricane Harvey. Insurers should also think about connected risk exposure in such an event, including risks posed to supply chains as well as cyber and political threats, Basi added.