Implementing the lessons learned in 2004 and 2005

While some changes will merely require modifying mindsets, others such as integration of cat management into the underwriting process, will take time as well as new tools, says Lara Mowery*

Lara Mowery is a managing director of Guy Carpenter & Company and a member of the development team for i-aXs™, Guy Carpenter’s online data and risk management platform.

On August 24 1992, Hurricane Andrew struck Florida 30 miles south of MiamSi, forever changing insurance companies’ perception of catastrophic risk and triggering a shift in the evaluation of potential losses from natural disasters.