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2019

KCC Launches Report on Lessons from Typhoon Jebi

According to KCC’s report on 2018’s Typhoon Jebi, the $15 billion in insured losses should not have been a surprise to catastrophe modelers and re/insurers. The report also discussed the nature of the damage, as observed by KCC’s survey team.

Japanese Typhoons Could Cause $15 Billion in Insured Losses

Based on its high-resolution Japan Typhoon Reference Model, KCC believes industry losses such as those seen with Jebi are at least a 1-in-20 year event and that the insurance and reinsurance sectors can expect significantly larger losses at longer return periods.

Jebi Sized Loss in Japan to Hit Re/Insurers at Least Once Every 20 Years, Says KCC

KCC’s analysis from a white paper on the anniversary of Typhoon Jebi predicts that insurance and reinsurance firms, and also insurance-linked securities (ILS) players, can expect to experience insured losses of above $15 billion from a Japanese typhoon with a frequency of at least once every 20 years, on average.

Catastrophe Modelers: U.S. Insured Losses from Dorian Could Reach $1.5B in U.S.

Based on the KCC high-resolution Hurricane Reference Model, KCC estimates that the total insured loss from Hurricane Dorian in the U.S. will be $1.5 billion, with 40% of the U.S. insured losses coming from North Carolina.

Expect $15bn+ Japan Typhoon Industry Loss at Least Every 20 Years: KCC

Karen Clark & Company’s white paper on Typhoon Jebi notes the storm was not an unprecedented loss event for Japan, when viewed in a historical context. KCC found that Typhoon Nancy (1961) and Typhoon Isewan (1959), would each cause more than $20 billion in insured losses if they were repeated today.

KCC Pegs Total Hurricane Dorian Industry Insured Loss at $5.23bn

According to Karen Clark & Company, insured losses from Hurricane Dorian (including the Caribbean and US) are around $5.23 billion.

KCC Pegs Total Insured Losses from Dorian at $5.2bn

Catastrophe modeling firm Karen Clark & Company estimates that the total insured losses from Hurricane Dorian will be $5.2 billion in the US and Caribbean.

Karen Clark Pegs Dorian Losses at $5.2bn

Karen Clark & Company estimates insured losses from Hurricane Dorian will reach $5.2 billion for the US and Caribbean.

Dorian Caused $7b in Damage to the Bahamas, Estimates Catastrophic Modeling Firm

According to Karen Clark & Company, Hurricane Dorian caused $7 billion in total damage in the Bahamas, and the damage could have been worse if New Providence had been impacted by more severe winds.

As Hurricane Dorian Aid Stalls, Frustrated Bahamians Take Relief into Their Own Hands

In an article discussing the impacts of Hurricane Dorian and the relief effort, KCC’s total loss estimate for Hurricane Dorian in the Bahamas is referenced.

In Bahamas, Officials Assess ‘Generational Devastation’ from Hurricane Dorian

The amount of damage in the Bahamas is slowly becoming clear, and a preliminary estimate from Karen Clark & Company indicates Hurricane Dorian caused $7 billion in total property losses.

Hurricane Death Toll in Bahamas at 30 as Aid Begins to Land

KCC’s preliminary estimate of $7 billion in the Bahamas, including total property loss, was referenced when discussing the impacts of Hurricane Dorian in the Bahamas.

Hurricane Dorian Devastation in Bahamas Could Cost $7 Billion: KCC

Catastrophe modeling firm Karen Clark & Company have estimated around $7 billion in total property damage has occurred in the Bahamas from Hurricane Dorian.

‘Unprecedented’ Damage: Bahamas Reel from Impact of Hurricane Dorian

Karen Clark & Company estimates the total property damage from Hurricane Dorian, excluding infrastructure and autos, could be as high as $7 billion in the Bahamas.

Hurricane Dorian Causes $7B in Property Damage to Bahamas

Hurricane Dorian caused as much as $7 billion in property damage in the Bahamas when it struck Abaco and Grand Bahama Island with wind gusts as high as 225 mph.

Hurricane Dorian Seen Costing the Bahamas at Least $7 Billion

Costs of Hurricane Dorian could reach $7 billion in the Bahamas, according to a preliminary estimate from Karen Clark & Company.

Hurricane Dorian Whips South Carolina

In an article discussing the impacts of Hurricane Dorian, KCC’s $7 billion total loss estimate (insured and uninsured) for the Bahamas was referenced.

KCC Puts Bahamas' Losses from Hurricane Dorian at $7 Billion; Abaco and Grand Bahama Worst Hit

Hurricane Dorian brought wind speeds of 185 mph to the Bahamas, and total losses are $7 billion, according to Karen Clark & Company.

Dorian's 'Final Act' Could be a Tough 24-Hour Run Through the Carolinas

In an article discussing the impacts of Hurricane Dorian in the US and Caribbean, KCC’s Special Report, Hurricane Dorian Impacts on the Bahamas, was referenced.

Total Cost of Hurricane Dorian in the Bahamas Estimated at $7bn: KCC

The Bahamas have received a direct hit from Hurricane Dorian resulting in devastating property damage. KCC estimates the total insured and uninsured losses in the Bahamas will be $7 billion, excluding infrastructure and auto losses.

Hurricane Dorian Impact on Bahamas Likely to Cost $7bn+, Says KCC

A preliminary estimate from catastrophe modeling firm Karen Clark & Company indicates total insured and uninsured losses from Hurricane Dorian in the Bahamas will be around $7 billion. Because this does not include infrastructure or auto losses, the full economic cost is likely to be higher.

Hurricane Dorian Devastation in Bahamas Could Cost $7Bln - KCC

Areas of Abaco have been destroyed by Hurricane Dorian, leaving survivors with nothing. KCC estimates the total losses (insured and uninsured) in the Bahamas is $7 billion, excluding infrastructure and autos.

'Like Zombies': Hurricane Victims Face Up to the Disaster

Areas of Abaco have been destroyed by Hurricane Dorian, leaving survivors with nothing. KCC estimates the total losses (insured and uninsured) in the Bahamas is $7 billion, excluding infrastructure and autos.

Hurricane Dorian Leaves Bahamas with Estimated $7 Billion in Damages

Karen Clark & Company estimates that the total insured and uninsured losses from Hurricane Dorian in the Bahamas will be $7 billion, excluding infrastructure and auto losses. Losses would have been higher had Dorian’s peak winds impacted New Providence, the most populated island.

Business Live

KCC’s total loss estimate for Hurricane Dorian in the Caribbean was included in the BBC’s daily round-up of business news.

Japan Quakes to Cost Insurance Industry $2B-$3B Annually: Karen Clark & Co.

Based on KCC’s new white paper, industry earthquake losses in Japan fall between $2-3 billion annually. A repeat of the 1923 Kanto earthquake could bring $225 billion in industry losses.

Expect $2-3B in Annual Industry Losses from Japan Quakes: KCC

While large magnitude events near Tokyo could cause $3 trillion in total property loss, annual earthquake losses in Japan are around $2-3 billion, based on the new KCC Japan Earthquake Reference Model.

Ridgecrest Quakes Drive Surge in Insurance Buying, Reports CEA

In an article discussing an increase in homeowners buying earthquake insurance policies following the Ridgecrest Earthquake, KCC’s insured loss estimate for the event is referenced.

KCC Cat Model Estimates $1.5 Trillion Losses if Kanto-Strength Earthquake Hit Japan Today

According to Karen Clark & Company’s new Japan Earthquake Reference Model, a Kanto-strength earthquake in the Tokyo region could generate $1.5 trillion in total property losses.

Karen Clark & Co. Highlights Vast Lost Potential from Tokyo Quake

Japan is one of the most seismically active areas of the world, and a major earthquake in the Tokyo region could result in $3 trillion in total property loss, according to a new KCC report.

Potential Tokyo Quake Loss Tops $3tn-KCC

An analysis based on Karen Clark & Company’s new Japan Earthquake Reference Model indicates that a large magnitude earthquake impacting Tokyo could result in $3 trillion in total property losses.

Major Quake Near Tokyo Could Generate $3trn in Losses: KCC

Tokyo is located in a seismically active region, and a large earthquake impacting Tokyo could cause $3 trillion in total property loss, according to a new report by KCC.

Tokyo Area Earthquake has Potential to Drive $3tn Property Loss: KCC

According to KCC, a repeat of the 1923 Kanto earthquake could result in property losses as high as $1.5 trillion, while a higher magnitude event could cost as much as $3 trillion.

Japanese Earthquake Losses Could Run into Trillions

Karen Clark & Company reports losses from a repeat of the 1923 Kanto Earthquake could generate $1.5 trillion in property losses, with a larger magnitude event in the same area causing $3 trillion in total loss.

Reactions North America Finalists Revealed

Karen Clark & Company was named a finalist in the “Risk Modeling Firm of the Year” category for the 2019 North America Awards given by Reactions.

When a Major Hurricane Hits New England, the Costs will be Huge

Ms. Karen Clark, KCC CEO and Co-Founder, Dr. Dan Ward, KCC Senior Meteorologist, and Dr. Mohammad Shoraka, KCC Senior Flood Engineer, were interviewed by NBC10 meteorologist, Chris Gloninger, about the impacts of a major hurricane in Massachusetts.

California Earthquakes Caused $200 Million in Damage, Report Says

In an article about the Ridgecrest Earthquake, Karen Clark & Company places this disaster in the context of other natural catastrophes and the earthquake insurance market in California. According to KCC, the earthquake will result in less than $40 million in insured loss.

Ridgecrest Quake Insured Losses Less than $40m: Karen Clark

An article discusses Karen Clark & Company’s recent loss estimate for the Ridgecrest Earthquake and findings of a post-event damage survey.

Re/Insurance to Cover Less Than 20% of $200m Ridgecrest Quake Loss: KCC

Karen Clark & Company reports that the earthquakes occurring July 4-5 will result in overall damages of $200 million, of which the insured loss is likely to be less than $40 million.

Modeler Estimates Insured Losses from California Quakes Less than $40m

Karen Clark & Company released an Event Brief that estimates the total loss from the event will be around $200 million.

Ridgecrest, California Quake Insured Losses Under $40m: KCC

The recent earthquakes that impacted southeastern California are expected to cause around $200 million in economic losses but only around $40 million in insured losses.

CAT-I Bulletin: Hurricane Barry

In an article about Hurricane Barry, KCC’s insured loss estimate is referenced while discussing impacts from the storm.

Hurricane Barry Insurance Losses at Least $300 Million, Says Risk Modeller KCC

Karen Clark & Company estimates that the insured losses from hurricane Barry will be around $300 million.

Flash Floods, Power Outages, and Road Closures: Assessing the Damage from Hurricane Barry

Karen Clark & Company’s insured loss estimate of $300 million is referenced in an article discussing the impacts of Hurricane Barry.

Karen Clark & Co. Estimates $300m in Non-NFIP Losses from Barry

Excluding the National Flood Insurance Program (NFIP), Karen Clark & Company estimates insured losses from Hurricane Barry will be near $300 million.

Insured Losses from Barry Close to $300m: KCC

Insured losses from Hurricane Barry will be nearly $300 million and were driven by an accumulation of small losses over a large area, according to Karen Clark & Company.

Hurricane Barry Private Market Loss at Almost $300mn: KCC

Hurricane Barry did not produce as intense precipitation as initially forecast, but the wind and storm surge impacts are expected to cause close $300 million in insured losses, according to Karen Clark & Company.

Hurricane Barry Insured Losses Could Hit $300m

Catastrophe risk modeler Karen Clark & Company has estimated that industry insured losses will be close to $300 million.

Hurricane Barry Estimated as $300m Private Re/Insurance Market Loss: KCC

KCC estimates that the industry insured loss will be around $300 million, including privately insured wind and storm surge damage to residential, commercial, and industrial properties, as well as automobiles. Considering Barry’s modeled impacts, there will likely be minimal effects on the reinsurance market.

KCC'S Clark: Improving Data Collection in Asia Will Lead to Better Risk Models

At the International Insurance Society's Global Insurance Forum in Singapore, Karen Clark discussed the continuing evolution of cat risk models, KCC's efforts to introduce greater transparency, efficiency and accuracy into the models, and how improving data collection in Asia will lead to better modeling outcomes for the region.

Cat 5 Storm Landfall Near Miami Would Drive Residential Losses of Over $200 bn, Says KCC

The KCC US Hurricane Reference Model Version 2.0 estimates that a strong Category 5 hurricane making landfall in Miami would result in $200 billion in residential insured loss. This extreme event is included in the KCC hurricane model, which has been certified by the Florida Commission on Hurricane Loss Projection Methodology.

Miami Area Cat 5 Hurricane Like Irma Would Be $200bn+ Residential Loss: KCC

KCC catastrophe modeling experts indicate that a Category 5 hurricane making landfall near Miami would cause over $200 billion in insured residential loss, which is one of the extreme scenarios included in the KCC US Hurricane Reference Model Version 2.0. The KCC hurricane model has been certified by the Florida Commission on Hurricane Loss Projection Methodology and was the first new model certified since 2006.

2019 Atlantic hurricane season: facing the eye of the storm

Forecasters are predicting an average or below-average 2019 hurricane season, but it only takes one landfalling storm to make a big difference. Karen Clark discusses lessons insurers and reinsurers have learned from previous hurricane seasons.

Risk modelers take measured view of climate change impacts

Karen Clark comments on the challenges, and potential impacts, of incorporating climate change into catastrophe risk models.

Karen Clark Named the 2019 John S. Bickley Founder’s Award Recipient

The International Insurance Society (IIS) has announced Karen Clark, President and CEO of Karen Clark & Company, as the 2019 recipient of the prestigious John S. Bickley Founder’s Award. Ms. Clark is recognized as the creator of the first catastrophe model and is credited with inventing the catastrophe modeling industry which revolutionized the way re/insurers understand and manage catastrophe risk.

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