The above description of the process of creating a catastrophic risk model and applying its projections may make it seem as if insurance companies have the ability to predict and plan for all uncertainty, but the truth is that catastrophic risk modeling only helps to a certain degree.

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Building these advanced models will require exploitation of the ensemble of modeling more fully to produce quantitative probabilistic forecasts of atmospheric quantities with estimates of uncertainty to generate probabilistic forecasts of the impacts and risks of weather disasters.

FORBES: Global Warming's Other Big Business Opportunity