What Does Model Mean?

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What does Model mean? Read on to discover the definition & meaning of the term Model - to help you better understand the language used in insurance policies.

Model

Model

A standardized, formulaic method of predicting future events using historical information. Catastrophe models, which are usually computerized, can be used to predict losses based upon anticipated future atmospheric weather patterns in various geographic regions.

We hope the you have a better understanding of the meaning of Model.

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