Chapter 3 looks at uncertainties incatastrophe modelling, combining hazard data and vulnerability data to obtaineconomic or insured loss. Oasis works by simulating catastrophic events andtheir financial consequences. As there are many sources of uncertainty in themodels, the models are probabilistic which means that they provide the chancesof the various levels of loss rather than just a single number.

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Chapter content

• Topic 3a - Financial models