PRA warns on cat model dependency
The Prudential Regulation Authority (PRA) encouraged UK (re)insurers to be aware of the limitations of vendor cat models and to avoid the risk of “unknowingly betting the insurer on any one peril”.
The Prudential Regulation Authority (PRA) encouraged UK (re)insurers to be aware of the limitations of vendor cat models and to avoid the risk of “unknowingly betting the insurer on any one peril”.