New RMS model outlines probabilities for 10 cat risks.A new catastrophe model has identified 10 major catastrophic classes of risk that have a 1% chance each of occurring during the next year, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the model's developer, Risk Management Solutions Ltd. The catastrophe classes range from natural causes, such as a hurricane, to man-made catastrophes, said Dr. Robert Muir-Wood, chief research officer and executive vice president of Risk Management Solutions. Ranked by insurance loss, the 10 catastrophes include hurricane, earthquake, terrorism, industrial accident, wildfire, flood, cyber (1) From "cybernetics," it is a prefix attached to everyday words to add a computer, electronic or online connotation. The term is similar to "virtual," but the latter is used more frequently. See virtual. attack, pandemic pandemic /pan·dem·ic/ (pan-dem´ik) 1. a widespread epidemic of a disease. 2. widely epidemic. pan·dem·ic adj. Epidemic over a wide geographic area. n. , oil spill oil spill: see water pollution. and blackout. When Risk Management Solutions ranked the catastrophes according to fatalities, the top four were a pandemic, terrorism, industrial accident and earthquake. |
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