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Why CAT?
CAT is short for a Catastrophic Disaster from a natural weather event, also known as a large-scale weather event, or man made causes, or by accident or negligence.  A disaster will be declared a catastrophe when it results in a large number of claims resulting in substantial loss of life, human suffering, and destruction of or damage to property, or degradation of the environment, and is of such a nature or magnitude as to be beyond the coping capacity of the community of the affected area and involves multiple insurers.  A catastrophe is most commonly declared after an extreme weather event such as a severe hurricane, cyclone, hail storm, bushfire, flood or storm.
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