Content from Karen Clark
Karen Clark, the president of Karen Clark & Company, is internationally recognized as the founder of the first catastrophe modeling firm and as the expert in the field of catastrophe risk assessment and management. Reach Karen at info90410@karenclarkandco.com.
Why Build Your Own Cat Model?
Insurers are using the new open loss modeling platforms to build their own catastrophe models for three main reasons: clarity, control and cost. Catastrophe models have become extremely important ...
How to Build Your Own Catastrophe Model
Given the complexity of catastrophe models, at first it might seem impossible for you to build your own. This was certainly the case 10-20 years ago. But technology has changed since the ...
Hurricane Katrina’s Legacy
Hurricane Katrina was a deadly storm that caused a large loss to the insurance industry—but not so large that it shouldn't have been anticipated by the catastrophe models. In the months after this ...
What Boards Would Like to Know About Catastrophe Losses
As the founder of AIR, one of the top two modeling companies, and its CEO for 20 years, I spent much of my career informing insurers and reinsurers about catastrophe models and extolling the virtues ...
Why Open Platforms Are the Logical Next Step for Catastrophe Risk Models
The first generation of catastrophe modeling technology, based on proprietary "black box" models produced by a few vendors, is 25 years old. It's now generally known that despite significant ...
What Rating Agencies Really Want to Know About Your Catastrophe Risk
Preparing effective rating agency presentations is important to most companies, but when it comes to articulating catastrophe risk and large loss potential, there can be a disconnect between what ...
Next Generation Cat Modeling: Multimodel, Open Source or Open Platform—What’s the Difference?
For the past two decades, insurers and reinsurers have licensed catastrophe models from AIR, RMS and EQECAT, and each vendor model came with its own front and back end to handle the model input and ...
The Current Scientific Consensus on Climate Change and Hurricanes—It May Surprise You
While "scientific consensus" on climate change may sound like an oxymoron, there is consensus on three key questions about climate change and hurricanes, as demonstrated by recent reports from the ...