Bill Churney

Back in 1987, after a few quiet decades of natural catastrophes in the United States, the idea of business-shuttering losses seemed like a remote possibility to most in the insurance industry, and the need for catastrophe modeling was met with skepticism.

As we move deeper into another Atlantic hurricane season, many in the insurance and reinsurance industry find themselves asking if this year will see an end to the very benign period of losses we have witnessed over the past decade.

Have we become complacent about managing catastrophe risk? Will the next major disaster cause significant disruption in the industry?