Insurers play down ‘misuse’ threat of open source cat model framework
Not-for-profit modelling framework aims to liberalise the catastrophe risk model industry
Insurers welcomed this week's launch of the Oasis Loss Modelling Framework (LMF), an open source catastrophe risk modelling platform, even as an established modelling firm cautioned it could be "open to misuse".
The inaugural version of the Oasis LMF software was released on February 7. Oasis was formed by a consortium of 21 re/insurers and brokers with the aim of opening up the development of cat models to firms, academics and other interested parties at minimal cost.
The framework is designed
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