In the realm of finance, there exists a term known as "catastrophe". This term is commonly used for statistical purposes to denote a single event or a string of closely linked occurrences that result in significant losses for insured properties, exceeding a predetermined threshold. It is a crucial concept to understand in the world of insurance, as it helps to accurately measure and anticipate potential risks. Therefore, it is imperative to familiarize oneself with this term and its implications in the financial landscape.
