Daily Digest: PRA calls for better cyber and natcat modelling, LMA property panel reveals election results, Connect Underwriting advises measured approach to property reinsurance

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Insurers must improve cyber and natural catastrophe modelling: PRA Insurers need to improve their modelling of natural catastrophes and cyber events, the Prudential Regulation Authority has said. In its latest stress test, the UK regulator said insurers’ approaches to modelling natural catastrophes had become more sophisticated, but it added there were still gaps for loss modifying factors.