2011

"Reinsurers Root of Insurance Rate Hikes," by Christine Berry, The Monroe News Star.
An op-ed by the director of the University of Louisiana–Monroe’s Risk Management and Insurance Studies Program critiques insurance companies' rate-setting methods and quotes Karen Clark's observations on the RMS V 11 model. [Link]

"NJ's Catastrophe Plan Needs Long-Term Approach, Insurer Input," by Mark E. Ruquet, propertycasualty360.com.
An article reporting from the New Jersey Commissioner's Insurance Symposium discusses the state's plans for public-private cooperation following a potential catastrophe and quotes participant Karen Clark on managing risk and preparing for recovery. [Link]

"Cat Models 'Not Fit For Purpose'," by Tim Evershed, The Review.
An article reporting from a panel at the International Underwriting Association's Catastrophe Modeling Conference relays the differing opinions on uses of models for insurers and reinsurers. Karen Clark is quoted from the panel advocating the use of models as one of several tools in evaluating risk. [Link]

"Varying Assumptions on Limited Data Causing Wide Insured-Loss Estimate Variances," by Chad Hemenway, propertycasualty360.com.
Karen Clark evaluates the variations in risk modelers’ loss estimates following Hurricane Irene and provides data gleaned from RiskInsight®, a loss assessment tool developed by Karen Clark & Company. [Link]

"Taking the Hurricane Seriously," MSNBC.
During coverage of Hurricane Irene, Karen Clark discusses the potential effects and insurance losses associated with winds and storm surge with anchor Thomas Roberts. [Link]

"Counting the Costs of Catastrophes," by Peter Field, InsuranceERM.
An article highlighting data analysis following the Tohoku Earthquake assesses the uses and limitations of catastrophe models, quoting Karen Clark on the use of loss estimates. [Link]

"Cracks in Cat Models," by Karen Clark, Canadian Underwriter.
In a bylined article, Karen Clark calls attention to a few of the limitations of using solely cat models for loss estimates, and presents an alternative through the use of characteristic events to represent risk with <1% probabilities. [Link]

"Opinion: Updated Doesn’t Mean Better Catastrophe Model," by Karen Clark, Risk & Insurance.
In a bylined article, Karen Clark argues model updates are not an automatic improvement on previous editions and should be evaluated on reduced volatility and variability in loss estimates. [Link]

"Diversification or Diworsification?" by Matt Brodsky, Risk & Insurance.
An article reviewing reinsurers' practices of diversifying books of business quotes Karen Clark where the theory and reality of spreading risk diverges in practice. [Link]

"Bill Riker: Renaissance Man," by Anthony O’Donnell, Insurance & Technology.
A profile of the late Bill Riker names him one of the Top 10 Innovators of the past decade for his work with catastrophe models. [Link]

"Looking Beyond the Catastrophe Model," by Raasad Jamie, Insurance Day.
A profile of Karen Clark and Karen Clark & Company describes the origins of catastrophe modeling, the eventual over-reliance on models by rating agencies and directions for the future such as monitoring model changes relative to characteristic set events. [Link]

"How Can Rating Agencies Better Gauge Carrier Cat-Risk Exposure?" by Karen Clark, National Underwriter.
In a bylined article, Karen Clark documents ratings agencies' inconsistent catastrophe risk analysis and advocates independent checks on exposure-data quality, such as consistent and transparent benchmarked scenarios. [Link]

"Japan Earthquake Heightens Concerns Over 'Model Miss'," by Peter Field, InsuranceERM.
An article exploring the use of catastrophe models following the Tohoku Earthquake quotes Karen Clark on possible over-calibration of models following the event. [Link]

"#14. Karen Clark: Most Influential People of Past 30 Years," Reactions.
Karen Clark is ranked #14 of the top thirty most influential people in the insurance and reinsurance industry of the past thirty years, ranked by the editors of Reactions in honor of the publication's 30th anniversary. [Link]

"Catastrophe Models Don’t Tell Entire Story, Says Pioneer Clark," Insurance Journal.
Karen Clark is featured in a podcast interview describing the current use of models in the property insurance industry, including the inexact nature of models and suggests transparent industry-wide benchmarking. [Link]

"Karen Clark & Company Holds Briefings to Address Concerns About New U.S. Hurricane Model," Canadian Underwriter.
This article describes Karen Clark & Company's Executive Briefings, offered to US insurance company executives making decisions on implementing revised hurricane models. [Link]

"Cat Modeling: Ingrained in the Industry, Embroiled in Controversy," by Chad Hemenway, National Underwriter.
In an article describing the current use of models in the property insurance industry, Karen Clark is quoted on the inexact nature of models and suggests transparent industry-wide benchmarking. [Link]

"Model Revisions and Reinsurance Pricing," by Chad Hemenway, National Underwriter.
In an article describing RMS model revisions, Karen Clark is quoted on the effects model revisions have on the primary insurance and reinsurance markets. [Link]

"Insurers Urged To Harness Web To Grow Profitable HO Biz," by Karen Clark, National Underwriter.
In a bylined article, Karen Clark describes how developments in consumer communications technology open new distribution and growth opportunities in homeowners insurance. [Link]

"Risk: Computer Projections of Hurricane Losses Off by $45B-$53B—Critic," by Evan Lehmann, ClimateWire.
An article discusses the Third Annual Near-Term Model Report's findings, places near- and long-term models in context, and discusses the possible effect of climate change on models. Karen Clark is quoted on the challenges of catastrophe models accurately predicting losses. [Link]

"Near-Term Models Misjudge Hurricane Losses By Billions," by Chad Hemenway, Claims Magazine, PropertyCasualty360.com.
An article providing a comprehensive overview and summary of the Third Annual Near-Term Model Report discusses the Hurricane Frequency Paradox and reinforces the lack of connectivity between increased losses and frequency of storms. Karen Clark is quoted on the lack of connection between increased losses and frequency of storms. [Link]

2010

"Insurers placing too much emphasis on cat model PML numbers, not enough on uncertainty models,"Canadian Underwriter.
An article covering a presentation by Jacqueline Friedland, actuarial practice leader at KPMG's Canadian insurance practice, reviews the findings of a forthcoming study that suggests insurers are over-relying on catastrophe modeling. Friedland cites Karen Clark during a presentation on the study's findings. [Link]

"COMMENT: Risk Modelers Take Flak,"Reactions.
An editorial by Michael Loney responds to recent coverage of insurance modeling in the Sarasota Herald-Tribune and acknowledges the industry's over-reliance on models. He quotes Karen Clark expressing concerns over the oversold precision of model numbers. [Link]

"Insurers’ Computer Models Deeply Flawed,"Sarasota Herald-Tribune.
An article, the second in a two-part series, continues exploring the Florida property insurance business. Karen Clark is quoted on catastrophe models' relation to accurate and precise loss estimates. [Link]

"Florida Insurers Rely on Dubious Storm Model,"Sarasota Herald-Tribune.
An article, the first in a two-part series, reviews the redevelopment of hurricane and catastrophic risk undertaken by the insurance industry after Hurricane Katrina. Karen Clark is quoted on the useful, but limited nature of catastrophe models in a complex system. [Link]

"Climate Change effect not clear cut: Clark,"Reactions.
A report of Karen Clark’s presentation on Sept. 29 Reactions’ Risk & Capital Management conference in New York reviews her position that climate change affects the severity, though not frequency, of hurricanes making landfall in the US. [Link]

"Measuring Up the Metrics,"Global Reinsurance.
This opinion piece by Karen Clark argues inherent flaws in PMLs hampers effective catastrophe risk management and advocates for fixed event sets similar to Lloyd’s Realistic Disaster Scenarios. [Link]

"The Acts of God Algorithm,"Bostonia.
This profile examines Karen Clark’s pivotal role as a pioneer, and continuing innovator, in catastrophe risk management. [Link]

"Batten down the hatches?," Trading Risk.
In this contributed article, Karen Clark discusses hurricane forecasts for the 2010 season, and the limitations of models in accurately forecasting hurricane activity and insured losses. [Link]

"Karen Clark & Co.'s Karen Clark, Davidson & Co.'s Drew Powell on Katrina's Impact,"A.M. Best..
In this BestDay Audio podcast, Karen Clark discusses how Hurricane Katrina impacted catastrophe modeling and how insurers assess risk since the storm. [Link]

"Opinion: Prisoners of Models of Our Own Design,"Risk & Insurance.
In this opinion piece, Karen Clark discusses the increased use of catastrophe models by the insurance industry over the last 25 years. Ms. Clark discusses the need to find balance between utilizing the models as a valuable framework and being able to improve loss estimates utilizing other credible information. [Full Article]

2009

"Cat Modeler’s Review Highlights Necessity To Integrate Models Throughout Operations,"BestWeek.
Karen Clark & Company Senior Vice President John Tierney discusses the need for insurers to do a better job of integrating the catastrophe modeling process into their operations. [Full Article]

"Where Are They Now?"Business Insurance.
In this profile of Karen Clark, a former Business Insurance Women to Watch honoree, Ms. Clark discusses how Karen Clark & Company assists insurers in improving their exposure data. [Full Article]

"Quake with Uncertainty,"Global Reinsurance.
Karen Clark comments on the uncertainties inherent in earthquake models and the danger of using point estimates, in this article from Global Reinsurance (www.globalreinsurance.com). [Full Article]

"Understanding uncertainty,"Reactions.
In this article, Karen Clark comments on the inherent limits of catastrophe models and cautions against overreliance on the models. [Full Article]

"Cat model pioneer cautions insurers on over reliance of models," Canadian Insurance.
Karen Clark and others share their perspectives on insurers’ use of catastrophe models. Ms. Clark expresses her concern that "model precision can be confused with accuracy." [Full Article]

"Shaking up the Models," Risk & Insurance.
In this article on new earthquake models, Karen Clark comments on the inherent limitations of catastrophe modeling software. [Full Article]

"Cat Modeler Karen Clark on Over-Reliance by Insurers," A.M. Best.
In this BestDay Audio podcast, Karen Clark discusses why insurers rely too heavily on catastrophe models and often put too much weight on the probable maximum loss (PML). [Link]

"Cat Modeling Pioneer: Don’t Rely Too Much on Cat Models," A.M. Best.
Karen Clark comments extensively on the appropriate use of catastrophe models and the perils of selecting a specific point estimate of loss such as the PML. [Link]

"Perspectives: Why Model Behavior Doesn’t Always Make Sense,"A.M. Best.
In this opinion piece, A.M. Best senior associate editor Meg Green cites Karen Clark, "the mother of catastrophe modeling," and her caution on overreliance on catastrophe models. [Link]

"Have near-term cat risk models failed?," Reactions.
Karen Clark speaks with Reactions about the findings of the firm’s report on the performance of near term hurricane models and their appropriate role in gauging catastrophe risk." [Full Article]

"A Review of the Performance of Near Term Hurricane Models," Risk Management.
An abridged version of the Karen Clark & Company report "Near Term Models: How Have They Performed?" is featured in Risk Management’s June 2009 issue, page 22. [Full article]

2008

"Efficacy of Catastrophe Models Assessed," Insurance Networking News.
This article details the findings of a report by Karen Clark & Company on the performance of near term hurricane models and quotes Karen Clark on the implications for the insurance industry. [Full Article]

"Overshadowed but Active Hurricane Season Was Anticipated by the Industry," A.M. Best.
In this article on the active 2008 hurricane season, Karen Clark discusses how the insured losses predicted by near term hurricane models compare to actual losses over the past three years. [Full Article]

"Get a Hold of Your Property, People," Risk & Insurance.
This article discusses how risk managers can move beyond models to better assess their property risk. Karen Clark says that model results should be supplemented by inspection reports and data detailing specific characteristics of the insured property. [Full Article]

"Why The Next Big Northeast Hurricane Will Surprise," Catastrophe Risk Management.
This article by Karen Clark describes the devastating impact of the 1938 hurricane on New England and projects the losses a similar storm today could incur. [Full Article]

"Technology-based Underwriting," A.M. Best Company E-Fusion Conference.
In this E-Fusion Conference webinar, Senior Vice President Glen Daraskevich presents on how insurance companies can leverage mobile technology to improve underwriting decision making for the property lines of business. [Link]

"Karen Clark and Glen Daraskevich of Karen Clark & Company Discuss Next-Generation Modeling and Underwriting,"A.M. Best Company E-Fusion Podcast.
As part of A.M. Best Company's 2008 E-Fusion Conference, Karen Clark & Company participates in this Q & A podcast on how insurers can better prepare for and deal with catastrophes. [Link]

"The Hurricane of ’38 Remembered," Worcester Telegram & Gazette.
In this article marking the 70th anniversary of The Great New England Hurricane of 1938, Karen Clark is quoted on the devastation a similar storm today would bring to the region. [Full article]

"Could a Hurricane Katrina or Ike Happen in MA?," WBZ-TV, Boston.
In this televised segment that aired during WBZ-TV’s Hurricane Week, Karen Clark speaks with meteorologist Mish Michaels about the likelihood and impact of a severe storm striking Massachusetts. [Link]

"Birth Mother of CAT Modeling Spins On," Risk & Insurance®.
Risk & Insurance® announces Karen Clark as a winner of the 2008 Risk Innovator™ Award in the Insurance category for her outstanding integrity and her ability to address risk-related problems through unique, innovative solutions. [Full article]

"GR Top 40: The Most Influential Women," Global Reinsurance.
Karen Clark is named the most influential woman in the reinsurance sector for her notable accomplishments in this male-dominated industry. [Full article]

"Modeling rests on data," Business Insurance.
In this transcript of a Q&A podcast, Karen Clark speaks with Business Insurance about the limitations of catastrophe models, the quality and range of model input data, and the future of the risk assessment industry. [Full article]

"Shore Bets," Banker & Tradesman.
Over the past twenty years, catastrophe models have become a mainstay of the insurance industry. This article quotes Karen Clark on the appropriate role and application of these models in assessing and managing risk. [Full article]

"Hurricane Preparedness is key to surviving a Katrina," Providence Journal.
This article details the efforts that Rhode Island is taking to prepare for a major storm and quotes Karen Clark on the devastating impact a hurricane like Katrina would have on the region’s property and infrastructure. [Full article]

"Complacency cited as main hurricane risk in Northeast," New Bedford Standard-Times.
Major hurricanes in the Northeastern U.S. are rare but can have a devastating effect on people and property, especially when hurricane warnings are disregarded. Karen Clark is quoted on the property damage a hurricane like the Great Hurricane of 1938 would incur in New England. [Full article]

"Thinking outside the black box," The Review.
This article by Karen Clark discusses ways that companies can mitigate risk by applying benchmarking analyses that test the credibility of model output. [Full article]

"Nobel Peace Prize Winners Honor Catastrophe Model Pioneer Clark," Insurance Journal.
Insurance Journal announces that Karen Clark received an award certificate for the 2007 Nobel Peace Prize bestowed on the Intergovernmental Panel on Climate Change (IPCC). [Full article]

"From the archive: an interview with Karen Clark," Insurance Day.
In this interview with Insurance Day, Karen Clark offers commentary on how catastrophe risk assessment can be improved by using catastrophe models in conjunction with quality exposure data, a process for checking model output, and other information on losses not covered by the model. [Full article]

"European Insurance Forum Examines Industry Changes," Insurance Journal.
This article covering the Tenth Annual Insurance Forum in Dublin cites Karen Clark’s remarks during her participation in a panel discussion titled “Global Warming—Mitigation or Devastation.” [Full article]

"Wild Variations," Reinsurance Magazine.
Karen Clark addresses the inconsistency among results produced by existing catastrophe models and suggests that companies use benchmarking and scenario analysis to bring more transparency to these results. [Full article]

2007

"Catastrophe Modeling Pioneer Clark Advises on Insurers’ Best Practices," Insurance Journal.
This article announces that Karen Clark & Co. will provide reviews of internal catastrophe risk assessment to help companies conform to best practices. [Full article]

"Cat Modeling Pioneer Clark Honored by Reinsurance Industry," Insurance Journal.
This article details Karen Clark’s receipt of The Review Worldwide Reinsurance Awards’ Lifetime Achievement award for her outstanding contributions to the reinsurance industry. [Full article]