Praedicat provides consulting services and software to the property and casualty insurance industries. The company uses new approaches to extend a field of analytics called catastrophe risk modeling. These models are used by the insurance industry and other financial markets to manage the property and casualty risk posed by natural disasters such as hurricanes, earthquakes and terrorist attacks. Praedicat is developing 'liability catastrophe models.' Liability catastrophes are catastrophes with a human cause for which businesses or people may be held liable, such as asbestos or climate change. The company is a spin out of RAND Corporation.