News & Publications

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2011

Reinsurers Root of Insurance Rate Hikes

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.

NJ's Catastrophe Plan Needs Long-Term Approach, Insurer Input

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.

Cat Models 'Not Fit For Purpose

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.

Varying Assumptions on Limited Data Causing Wide Insured-Loss Estimate Variances

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.

Taking the Hurricane Seriously

During coverage of Hurricane Irene, Karen Clark discusses the potential effects and insurance losses associated with winds and storm surge with anchor Thomas Roberts.

Counting the Costs of Catastrophes

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.

Cracks in Cat Models

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.

Opinion: Updated Doesn’t Mean Better Catastrophe Model

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.

Diversification or Diworsification?

An article reviewing reinsurers' practices of diversifying books of business quotes Karen Clark where the theory and reality of spreading risk diverges in practice.

Bill Riker: Renaissance Man

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.

Looking Beyond the Catastrophe Model

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.

How Can Rating Agencies Better Gauge Carrier Cat-Risk Exposure?

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.

Japan Earthquake Heightens Concerns Over 'Model Miss

An article exploring the use of catastrophe models following the Tohoku Earthquake quotes Karen Clark on possible over-calibration of models following the event.

#14. Karen Clark: Most Influential People of Past 30 Years

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.

Catastrophe Models Don’t Tell Entire Story, Says Pioneer Clark

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.

Karen Clark & Company Holds Briefings to Address Concerns About New U.S. Hurricane Model

This article describes Karen Clark & Company's Executive Briefings, offered to US insurance company executives making decisions on implementing revised hurricane models.

Cat Modeling: Ingrained in the Industry, Embroiled in Controversy

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.

Model Revisions and Reinsurance Pricing

In an article describing RMS model revisions, Karen Clark is quoted on the effects model revisions have on the primary insurance and reinsurance markets.

Insurers Urged To Harness Web To Grow Profitable HO Biz

In a bylined article, Karen Clark describes how developments in consumer communications technology open new distribution and growth opportunities in homeowners insurance.

Storm Warning

This article reviews the uncertain performance of catastrophe models compared to the active 2010 hurricane season in light of the third annual Near Term Model Report by Karen Clark & Company.

Risk: Computer Projections of Hurricane Losses Off by $45B-$53B—Critic

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.

Near-Term Models Misjudge Hurricane Losses By Billions

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.

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