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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.
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.
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.
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.
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.
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.
This profile examines Karen Clark’s pivotal role as a pioneer, and continuing innovator, in catastrophe risk management.
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.
In this BestDay Audio podcast, Karen Clark discusses how Hurricane Katrina impacted catastrophe modeling and how insurers assess risk since the storm.
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.
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.
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.
In this article, Karen Clark comments on the inherent limits of catastrophe models and cautions against overreliance on the models.
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.
In this article on new earthquake models, Karen Clark comments on the inherent limitations of catastrophe modeling software.
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).
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Karen Clark is named the most influential woman in the reinsurance sector for her notable accomplishments in this male-dominated industry.
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.
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.
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.
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.
This article by Karen Clark discusses ways that companies can mitigate risk by applying benchmarking analyses that test the credibility of model output.
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.
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.
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.
This article announces that Karen Clark & Co. will provide reviews of internal catastrophe risk assessment to help companies conform to best practices.
This article details Karen Clark’s receipt of The Review Worldwide Reinsurance Awards’ Lifetime Achievement award for her outstanding contributions to the reinsurance industry.
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