Bermuda: Beware reliance on ERM models
John Molbeck, president and CEO of HCC Insurance Holdings warned delegates at the World Insurance Forum this week that (re)insurers should be wary when using models as part of their enterprise risk management strategy.
"People love models - they make us feel safe - but beware of relying too heavily on models that you begin to stop questioning the basic assumptions".
Mr Molbeck was speaking during a panel debate
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