Karen Clark & Company

Karen Clark, co-founder and CEO, discusses the recent rise of reinsurance rates and what the remainder of the hurricane season may have in store with The Wall Street Journal. Read the article, “Insurers Are Braced for More Beryls” below.   

The path of Hurricane Beryl stretched from the Windward Islands in the Caribbean all the way to the Texas Gulf Coast, making three separate landfalls along the way: Carriacou Island, Grenada on July 1; Tulum, Mexico on July 5; and finally Matagorda, Texas on July 8. Based on the high-resolution KCC Hurricane Reference Models, KCC estimates that the privately insured loss from Hurricane Beryl will be close to $510 million in the Caribbean, $90 million in Mexico, and $2.7 billion in the US. View and download KCC's Flash Estimate for Hurricane Beryl via our website at the link below and reach out to info@karenclarkandco.com to learn more about KCC’s LiveEvent services.

Dr. Dan Ward, Senior Director of Model Development at KCC, discusses the 2024 hurricane season—expected to be extremely active—and how insurers should prepare for major events in an interview with AM Best.   Listen to the full podcast interview and check out the video interview AM Best released below. Podcast: https://lnkd.in/efhRBv_H Video: https://lnkd.in/e5yrnGSh

We wrapped up CATLAB® 2024 today with some excellent conversations about key issues facing the insurance market within the next five years and an industry expert panel on leveraging KCC tools in practice. We were also pleased to conduct some exciting workshops that showcase KCC’s APIs, the RIUnderwrite application, and the Client Portal. Thanks again to everyone who joined KCC for another valuable and successful CATLAB! 

KCC’s annual CATLAB® conference continued yesterday with great discussions about correlations between weather-related perils, updates to several KCC models, and an industry expert panel about The Modeled Loss Transaction. We’re looking forward to one more day of CATLAB®, including previews of enhancements to KCC’s RiskInsight® application, interactive workshops for KCC’s RIUnderwrite and RiskScores applications, and an industry expert panel about harnessing the power of KCC tools in practice. To learn more about CATLAB, RiskInsight, and KCC’s models, contact kcc_client_services@karenclarkandco.com.

CATLAB® 2024 is off to a spectacular start! KCC’s annual client conference started yesterday with exploring a preview of the 2024 hurricane season, discussing the (re)insurance market, and hosting two industry expert panels on adapting to regulatory and legislative changes and climate risk communication with internal and external stakeholders. We capped the night off with a trip to the historic Fenway Park to watch the Red Sox. Today we’ll dig into the 2023 severe weather season, updates to several of KCC’s models, and host an industry expert panel on The Modeled Loss Transaction. The KCC CATLAB® sessions focus on what’s essential to know about weather, climate, and catastrophe risk and how that knowledge can be leveraged to capitalize on new market opportunities. To learn more, contact KCC at kcc_client_services@karenclarkandco.com.

KCC CEO and Co-Founder, Karen Clark, spoke with Insurance Day about the importance of renewing climate data to keep pace with climate change. Read more about how Karen Clark & Company updates and verifies our data at least every two years, if not every year, to account for climate change that then implements dynamic science into our advanced models to accurately reproduce the complexities of an event.

Our Chief Operating Officer, Jon Ritchie, and our President & CEO, Robert Ritchie (along with our mascot, Leo) were honored to welcome Karen Clark to our corporate office yesterday.   Karen is co-founder of Karen Clark & Company (KCC), an innovation and technology leader in weather, climate, and catastrophe risk modeling. An industry leader, Karen created the first catastrophe model and founded the first catastrophe modeling company in 1987. She was awarded the Nobel Peace Prize certificate in 2007 for her contributions to work of the Intergovernmental Panel on Climate Change (IPCC). She is a pioneer in our industry and continues to push technology and modeling boundaries with her esteemed team at KCC.   Karen and her team are globally recognized for the important work they do assisting insurance companies quantify risk and respond to catastrophic weather events, including hurricanes, wildfires, winter storms and more. American Integrity has licensed models from KCC since 2016. The insight and direction provided from KCC’s suite of models has dramatically impacted our risk management processes in a positive way. With the inclusion of KCC’s models and tools in our risk management framework, we are able to more effectively evaluate the impact of future loss scenarios and more robustly quantify claim estimates and losses in real time when a catastrophic event occurs.   Additionally, KCC’s customer service team and model experts are first-class practitioners and experts in their trade. They take seriously the need for companies to understand their models and tools in detail and always make time to educate clients and answer questions about their products. Their commitment to accuracy, thought leadership and innovation in the insurance and reinsurance industries are just a few reasons why American Integrity is proud to partner with the incredible team at KCC. Glen Daraskevich Marshall Pagano Chris Mossey Mike Tine

To insure or not to insure, that is the question. 🤔 The insurance industry is worth 6 trillion US dollars, more than Japan’s GDP. Do insurers really carry the risk of destruction caused by extreme weather? Do the payouts always reach those impacted? Extreme events like hurricanes, storms and floods can cause billions worth of damages. Is the industry ready? I took a deep dive into the insurance industry. And spoke to Ernst Rauch of Munich RE, Nobel prize honoree Karen Clark of Karen Clark & Company and expert Franziska Arnold-Dwyer and Carlos Jimenez of Mexican insurance company AMIS.

KCC is #hiring! We're looking for an earthquake hazard professional to join our growing team of catastrophe model developers. In this position, you will work closely with other scientists and engineers to build out our global suite of advanced earthquake models. Learn more about this position and apply at: https://lnkd.in/eMhAQ64K