Karen Clark & Company to Co-Sponsor Puerto Rico Catastrophe Risk Management Seminar

BOSTON, MA, June 18, 2009

Karen Clark & Company, independent experts in catastrophe risk, catastrophe models, and catastrophe risk management, today announced the firm will co-sponsor, along with the Office of the Commissioner of Insurance of Puerto Rico, a seminar to address hurricane and earthquake risk management issues confronting the Puerto Rico insurance market. The event, “Fortifying the Puerto Rico Insurance Market Against Catastrophes,” will take place in San Juan on Friday, June 19 from 9:00 a.m. to 1:30 p.m. in the Faculty Room of the University of the Sacred Heart. The event is free and open to the public and the media.

“The Commissioner shares Karen Clark & Company’s commitment to implementing effective risk management processes that conform to best practices,” said Karen Clark, President and CEO, Karen Clark & Company. “We are thrilled to partner in bringing together insurance executives to discuss how companies can better mitigate hurricane and earthquake risk in Puerto Rico by using state-of-the-art technology and data processes.”

The seminar will feature timely commentary on, among other topics, catastrophe risk and the Puerto Rico insurance market; the evolving role of data quality in ratings and reinsurance; and efficient methods for capturing higher quality data on insured properties. Speaking at the event in addition to the Commissioner and Karen Clark are Glen Daraskevich, Senior Vice President, Karen Clark & Company; Jeff Mango, CPA, Assistant Vice President, A.M. Best; and Miguel Barrales, CEO, Flagstone Re.

“Puerto Rico’s exposure to hurricanes and earthquakes, and their potential impact on both citizens and insurers, is a primary concern for this office,” said Insurance Commissioner Ramón Cruz-Colón. “This seminar is an excellent opportunity to draw attention to the risk management issues that directly impact insurance companies and residents of Puerto Rico. We look forward to hosting this event with Karen Clark & Company, and would like to thank them for their participation.”

Event: Fortifying the Puerto Rico Insurance Market Against Catastrophes Date: June 19, 2009 Time: 9:00 A.M. to 1:30 P.M. Location: University of the Sacred Heart, Faculty Room, San Juan, PR

To attend this event, please contact Yvette Domenech Avilés, Office of the Insurance Commissioner of Puerto Rico, (787) 304-1004. Information on the office is available at: http://www.ocs.gobierno.pr/ocspr/.