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2021

Midwest Tornadoes Kill Dozens, Cause Billions in Insured Losses

The storms that impacted the Midwest caused insured losses of around $3 billion according to estimates by catastrophe modeling firm Karen Clark & Company (KCC).

Karen Clark Estimates $3B in Losses From US Tornado Outbreak

Total insured and uninsured losses from severe convective storms that struck several US states last weekend will be about $3 billion, catastrophe modeling company Karen Clark & Co. estimated.

US Tornado & Storm Outbreak Estimated a $3Bn Insured Loss by KCC

The recent outbreak of deadly tornadoes and damaging severe convective storms in the US has been estimated as a roughly $3 billion insurance industry loss by risk modeler Karen Clark & Company.

Insured Loss From Tornado Outbreak Estimated at $3 Billion by KCC

The insured loss from the December 9-12 tornado outbreak that devastated parts of central US has been estimated to be about $3 billion by catastrophe modeling firm Karen Clark & Company.

Insured Loss From U.S. SCS & Tornado Outbreak Seen at $3Bn by KCC

Analysis from catastrophe risk modeling firm, Karen Clark & Company (KCC), estimates that the insurance industry loss from the recent severe convective storm (SCS) outbreak in the US will be around $3 billion.

How Climate Change is Impacting Hurricanes

Karen Clark spoke with Intelligent Insurer about the impacts of climate change on tropical cyclones and the insurance industry.

PropertyCasualty360 2021 Technology Innovation Honorees

KCC was recognized as a Technology Innovation honoree in the inaugural PropertyCasualty360 Insurance Innovators recognition program for providing high-resolution and accurate loss data for live events and being the only modeling company to issue insurer-specific loss estimates during the February 2021 Arctic Air Outbreak (Winter Storm Uri).

Burning Hotter: Insured Losses From California Wildfires Totaled More Than $30 Billion in the 2017, 2018, and 2020 Fire Seasons

Dr. Daniel Ward, KCC Director, Model Development, spoke with Leader’s Edge about the growing wildfire risk in the western U.S. fueled by climate change.

Catastrophe Modeler Says Global Warming Increased Wind Losses by 11%

A recent article discusses key takeaways from KCC’s white paper on the impact of climate change on hurricanes and insured wind losses.

Climate Change Could Raise Hurricane Wind Losses 19% by 2050: KCC

A recent article discusses key takeaways from KCC’s white paper on the impact of climate change on hurricanes and insured wind losses.

View From the Top: Karen Clark, Karen Clark & Co.

In a recent Business Insurance Q&A, Karen Clark discussed Hurricane Ida, the lessons learned, and how catastrophe models are helping insurers manage climate change.

BI Analyst Briefing - Explaining Hurricane Ida with Karen Clark

Karen Clark spoke with Bloomberg Intelligence for a live webinar discussing Hurricane Ida and how KCC develops accurate real-time loss estimates for live events.

KCC Pegs Nicholas’ Industry Cost at $950mn

KCC estimates the insured loss from Hurricane Nicholas will be around $950 using the high-resolution US Hurricane Reference Model.

Limited Damage Estimate for Hurricane Nicholas

A Karen Clark & Company flash estimate puts the insured loss from Hurricane Nicholas at $950 million.

Hurricane Nicholas Insured Loss Around $950m: KCC

Hurricane Nicholas is expected to cost the insurance industry around $950 million, says catastrophe risk specialist Karen Clark & Company.

Nicholas Insured Losses About $950M: Karen Clark

Karen Clark & Company estimate insured losses for Hurricane Nicholas will be around $950 million.

Insurers Can No Longer Avoid Climate Change: Industry Pioneer

Karen Clark spoke with Intelligent Insurer for a one-on-one interview regarding the IPCC Sixth Assessment Report (AR6) and the impacts for insurers and reinsurers.

Ida vs. Katrina: How Do They Compare?

Karen Clark & Company’s insured loss estimate of $18 billion was used in an analysis comparing Hurricane Ida and Hurricane Katrina.

Death Toll Rises to 45 in Eastern US After Flash Floods Batter Region

In an article discussing flooding in the northeast from Hurricane Ida, KCC’s insured loss estimate is quoted.

Cat Models Not Accounting for the ‘New Normal’: Karen Clark

Karen Clark, KCC CEO and President, was interviewed about how recent events have demonstrated a need for new approaches to catastrophe modeling

Hurricane Ida: Estimated Insured Losses Revealed

Karen Clark & Company estimates that insured losses from Hurricane Ida will likely be close to $18 billion.

Insurance Industry Will Withstand Ida’s Losses in Louisiana, Neighboring States: Analysts

In a summary of insurance impacts from Hurricane Ida, KCC’s loss estimate for the storm is discussed.

What Insurance Will (and Won't) Cover if Your Home or Car Was Ruined by Hurricane Ida

While explaining common flood insurance policies, KCC’s insured loss estimate for Hurricane Ida is mentioned.

Hurricane Ida Insured Loss Estimate Nears $18 billion in the U.S.

Karen Clark & Company has estimated insured losses from Hurricane Ida will be near $18 billion in the US.

Flooding in New York & New Jersey Could Lift Hurricane Ida Re/Insured Loss: Report

In an article discussing the potential impacts of Ida in the northeast, KCC’s insured loss estimate for the event is mentioned.

$18bn+ Ida Brunt Expected to Weigh on Personal Lines

When summarizing key takeaways from Hurricane Ida, KCC’s insured loss estimate of $18 billion in the US was included.

Insurers May Take $18 bln Hit from Hurricane Ida - Industry Experts

Hurricane Ida will produce $18 billion in insured losses, according to Karen Clark & Company.

Hurricane Ida to Drive Insured Losses of Close to $18bn, Says KCC

Catastrophe risk modeler Karen Clark & Company estimates that the insurance industry will see $18 billion in losses from Hurricane Ida.

Photos, Videos of Hurricane Ida Aftermath

In a summary of damage sustained from Hurricane Ida, Karen Clark & Company’s insured loss estimate of $18 billion is mentioned.

Insurers May Take $18B Hit From Hurricane Ida – Industry Experts

On Wednesday, Karen Clark & Company estimates that Hurricane Ida will cost insurers $18 billion.

Hurricane Ida Damage to Cost Insurers Close to $18 Billion

Karen Clark & Company estimates that insured losses from Hurricane Ida would reach around $18 billion, and costs for cleanup and rebuilding may continue to climb given recent demand.

After Ida, Small Recovery Signs Amid Daunting Destruction

In an article discussing the impacts of Hurricane Ida and early recovery efforts, Karen Clark & Company’s total and insured loss estimates were discussed.

Hurricane Ida Insured Losses Close to $18 billion: KCC

Karen Clark & Company released an insured loss estimate of $18 billion for Hurricane Ida, which falls with the expected range.

KCC: Hurricane Grace to cost insurers $330mn

A preliminary estimate from Karen Clark & Company indicates insured losses from Hurricane Grace will be near $330 million.

KCC Pegs Hurricane Grace Insured Losses at $330mn

Karen Clark & Company estimates insured loss from Hurricane Grace to be $330 million.

KCC Projects $330M in Insured Losses From Hurricane Grace, Most in Mexico

Insured losses from Hurricane Grace will amount to $330 million, according to Karen Clark & Company.

Grace’s Damage in Mexico, Caribbean Pegged at about $330M

Karen Clark & Company estimates Grace’s insured loss to be around $330 million in Mexico and the Caribbean.

Insurers Face $330mn Storm Grace Loss Across Mexico & Caribbean: KCC

Catastrophe risk modeler Karen Clark & Company estimates that insured loss from Grace will be $330.

KCC Estimates Insured Loss From Hurricane Grace: $300M in Mexico, $30M in Caribbean

Karen Clark & Company estimates Hurricane Grace caused $330 million in insured losses in the Caribbean and Mexico.

Hurricane Grace Insured Property Loss Estimated $330m by KCC

Insured losses from Hurricane Grace are expected to be around $330 million, according to Karen Clark & Company.

KCC Estimates $330 Million in Insured Losses From Hurricane Grace

Catastrophe risk modeling firm Karen Clark & Company estimates insured losses from Hurricane Grace to be near $330 million.

Karen Clark & Company (KCC) has Estimated that the Insured Loss Caused by Tropical Storm Henri will be Around $155mn

Insured loss caused by Tropical Storm Henri will be around $155 million, according to Karen Clark & Company.

KCC Pegs Henri Insured Losses at $155mn

Karen Clark & Company, a risk modeling firm, has estimated that insured losses from Hurricane Henri will be near $155 million.

Henri Causes $155 million in Losses in Northeast

Insured losses from Hurricane Henri will be close to $155 million, according to Karen Clark & Company.

Cleanup Begins in Soggy Northeast as Henri Plods Back to Sea

In an article discussing the impacts of Hurricane Henri, KCC’s estimated insured loss for the event is quoted.

Hurricane Henri Insured Loss Estimated at $155mn by KCC

Catastrophe risk modeler Karen Clark & Company estimated insured losses from Hurricane Henri would be around $155 million.

Hurricane Henri Insured Loss Seen Close to $155m by KCC

Karen Clark & Company provided a modeled estimate of the insurance and reinsurance market losses for Hurricane Henri.

Insured Haiti Quake Loss Estimated at $250mn by KCC

Catastrophe modeling firm Karen Clark & Company estimated that insured losses from the M7.2 Haiti earthquake will be around $250 million.

Property Insurers Tighten Coverage as Climate Change Continues

In an article discussing the impact of climate change on property insurance, Karen Clark, KCC President and CEO, was interviewed about the role of catastrophe models to meet the growing demand for the effect of climate change on natural disasters.

Haiti Quake Insured Loss ~$250m Says KCC, Some Parametric Exposure

The recent Haiti earthquake is expected to result in $250 in insured losses, according to Karen Clark & Company.

Haiti Earthquake Caused $250mn of Insured Losses, Says KCC

The KCC Caribbean Earthquake Reference Model indicates that the August 2021 Haiti earthquake caused around $250 million in insured losses.

Insured Losses from Haiti Earthquake Estimated at $250M: Karen Clark & Co.

The M7.2 earthquake in Haiti may cause up to $250 in insured losses, according to Karen Clark & Company.

Karen Clark & Co Estimates Insured Losses from Haiti Earthquake to be $250m

Karen Clark & Company estimates the insured losses from the 2021 Haiti earthquake are around $250 million.

Elsa Insured Losses Estimated to Be $290M

Karen Clark & Company estimates insured losses on land from Hurricane Elsa will be around $290 million.

Insured Losses from Elsa Could be $290 million

Boston-based catastrophe modeling firm Karen Clark & Company estimates insured losses from Hurricane Elsa will be around $290 million.

Revealed – Hurricane Elsa Damage Estimates

The insured loss from Hurricane Elsa will be around $290 million, according to Karen Clark & Company.

Winds of Change: Derechos, Snowstorms and Other Catastrophes Are Becoming a Growing Problem for Insurers

In a recent article, KCC CEO & Co-Founder Karen Clark commented on the increasing frequency and cost of "non-tail, large loss" events and how KCC accounts for climate change and evolving exposures in its models.

Women’s History Month, Interview with Karen Clark

This interview with Karen Clark highlights the innovation she has brough to the insurance industry from her start at Commercial Union Assurance to current advancements she is making at Karen Clark & Company. The interview also adresses how she navigated her career in a male dominated industry.

What Would it Cost: US Derechos

In a recent article on the potential impacts of derechos, KCC provided a damage estimate for hypothetical events. Karen Clark also commented on the typical frequency of derechos, the difficulties of assigning a severity to derechos, and what should be considered an extreme event.

Losses from Winter Storm in Southern US Expected to Reach Historic Levels

In this S&P Global Market Intelligence article on losses from the unprecedented winter weather in the southern U.S., Karen Clark commented on the factors that made the storm so severe, including extremely cold temperatures that lasted longer than expected, significant amounts of snow and ice, and a level of unpreparedness due to the rarity of such an event in the region.

Property Insurers Face Estimated $18B Damage Bill: RPT

In a video interview with Yahoo Finance!, Karen Clark detailed the estimated losses from the February winter storm and severe cold, the location of the majority of claims and damage, and the importance of preparing for similar events in the future.

KCC Raises US Winter Storm Insurance Industry Loss Estimate to $18bn

This article discusses KCC’s industry loss estimate of $18 billion across residential, commercial, and industrial lines of business from the Arctic Air Outbreak. This level of loss will likely impact insurance and reinsurance markets, and it is too early to determine if catastrophe bonds will be triggered.

Winter Freeze Sparks Claims Glut With $18 Billion in Losses Seen

In this article on the severe winter weather in Texas and surrounding states, Karen Clark commented on potential impacts of the storm, the characteristics that made the event an anomaly, and KCC’s insured loss estimate.

US Winter Storm Uri Insurance Industry Loss Lifted to $18bn by KCC

A Reinsurance News article reports on KCC’s estimated insurance and reinsurance industry losses from the severe winter weather in the U.S., noting the loss covers 20 states, with over half of the total in Texas.

US Insurers on Hook for Billions in Texas Storm; Regulator Collecting Data

A Reuters article regarding losses from the severe winter weather in Texas cites Karen Clark & Company’s insured loss estimate of $18 billion.

Winter Freeze Damage Expected to Hit $18 Billion From Burst Pipes, Collapsed Roofs

In a Wall Street Journal article on estimated damage from the severe winter weather in Texas and numerous other states, Karen Clark commented on the types of damage that were most prominent, the geographic spread of the damage, and the characteristics of the storm that made it an extreme event.

KCC Lifts Texas snowstorm Loss to $18bn Warns Water Damage to Drive Loss

In an interview with Inside P&C, Karen Clark addressed the factors contributing to the large losses related to the February winter storm event.

Risk Management Takes a Turn After Events of 2020

In a recent article on the challenges facing risk managers and modelers, Karen Clark noted that 2020 was unprecedented in terms of natural disasters, which are “increasing in frequency and severity, and much faster than they have in the past.”

Louisiana Governor Asks White House for $3B in Hurricane Aid

Karen Clark & Company’s projections for the combined insured U.S. losses from hurricanes Laura and Delta were cited in a recent Associated Press article regarding the storms’ impacts and associated aid efforts.

Pandemic Spurs Technology Growth in Insurance Industry

In an article exploring technological advances in the insurance industry, Karen Clark discusses how KCC’s live event tracking is used to assist insurers in planning for major events and to identify fraudulent claims.

KCC Releases US Winter Storm Reference Model

Catastrophe risk modeler Karen Clark & Company released its new US Winter Storm Reference Model that uses a physics-based methodology to capture winter storm loss potential.

KCC Uses Weather Prediction Techniques in US Winter Storm Model

Karen Clark & Company launched a new winter storm model that captures the loss potential from snow and ice, freezing temperatures, and high winds.

KCC Launches Multiperil Winter Storm Model

On Monday, Karen Clark & Company released the KCC US Winter Storm Reference Model, capturing the loss potential from the subperils of snow and ice, freezing, temperatures, and high winds.

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