Opinion: Casualty modelling milestone

You have to applaud thelaunch of the Lloyd's probabilistic liability model, which
it has developed in conjunction with Arium.
The model breaks liability risk modelling down into blocks,
making the modelling of casualty exposures more akin to that of
property catastrophe risk.
Lloyd's and Arium claim the new approach borders on
predictive modelling, and could even identify hidden risks that
have not yet materialised.
The launch represents yet another milestone in the development
of casualty model