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Models

Property Damage Estimation

This model illustrates a projection of property damages and human costs from potential natural disasters over a 5-year period that might be assessed by an insurance company. It assumes that each disaster either occurs or doesn't occur in a given year with given probabilities. Then possible property damages and possible human costs are simulated. In each of these, assuming that a disaster occurs, the total damage or cost is composed of the random number of people affected and the damage or cost per person affected._x000D_

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