ABC Insurance Company is a leading provider of property and casualty insurance. They are facing significant challenges in managing their risk exposures, particularly in relation to natural disasters such as hurricanes and earthquakes. As a finance expert specializing in risk management, you have been tasked with analyzing and developing strategies to mitigate these risks. Based on the available data and industry trends, identify the key risk factors faced by ABC Insurance Company and propose a comprehensive risk management plan. Consider factors such as underwriting practices, reinsurance strategies, capital allocation, and financial modeling techniques. Additionally, discuss the potential impact of these risk management strategies on the company's profitability, solvency, and overall financial stability. Provide recommendations for effectively managing and monitoring the identified risks to ensure the long-term success of ABC Insurance Company."