sentences:  Nowadays, CRESTA sets widely accepted standards which apply throughout the international insurance industry.CRESTA zone information is used by most insurers for assessing the insurance catastrophe premiums they will charge.While the acronym CRESTA stands for Catastrophe Risk Evaluation and Standardizing Target Accumulations, the name was derived from the name of the hotel (Cresta Hotel) where the founding meeting occurred, and the subsequent creation of a suitable acronym to correspond to the name.