It took the devastation from the 1992 storm for the insurance industry to embrace catastrophe modeling. Since then, new techniques have been developed to give a better idea of an insurer's loss potential.
It took the devastation from the 1992 storm for the insurance industry to embrace catastrophe modeling. Since then, new techniques have been developed to give a better idea of an insurer's loss potential.
Since differences in catastrophe-model estimates essentially result from differences in frequency and severity assumptions, modeling pioneer Karen Clark proposes that rating agencies use “benchmark” 100-year catastrophes to gauge cat risks for rated companies, rather than PMLs that can vary widely depending on the modeler and the version of the model...
Karen Clark believes insurers are increasing realizing they need to be agnostic with respect to product distribution and to reach out to consumers in multiple ways. In this opinion piece, she suggests that online homeowners sales are the next frontier for personal lines carriers.
DebugScreen: mobile
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"uri": "/2022/05/10/hurricane-andrew-anniversary-provides-risk-prep-lessons/",
"title": "Hurricane Andrew anniversary provides risk, prep lessons",
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"summary": "What have we learned about weather risk, preparedness and insurance in the 30 years since Hurricane Andrew?",
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{
"uri": "/2017/10/24/how-insurers-and-reinsurers-track-live-hurricanes/",
"title": "How insurers and reinsurers track live hurricanes in real-time",
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"prettyDate": "October 24, 2017",
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"summary": "RiskInsight, a new modeling platform by KCC, enables reinsurers to track their claims and losses from live hurricanes in real time.",
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"uri": "/2017/10/24/how-insurers-and-reinsurers-track-live-hurricanes-in-real-time/",
"title": "How insurers and reinsurers track live hurricanes in real-time",
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"summary": "It took the devastation from the 1992 storm for the insurance industry to embrace catastrophe modeling. Since then, new techniques have been developed to give a better idea of an insurer's loss potential.",
"body": null
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{
"uri": "/2016/05/31/are-insurers-prepared-for-hurricane-andrew-ii/",
"title": "Are insurers prepared for Hurricane Andrew II?",
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"summary": "It took the devastation from the 1992 storm for the insurance industry to embrace catastrophe modeling. Since then, new techniques have been developed to give a better idea of an insurer's loss potential.",
"body": null
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{
"uri": "/2011/05/16/how-can-rating-agencies-better-gauge-carrier-cat-risk-exposure/",
"title": "How Can Rating Agencies Better Gauge Carrier Cat-Risk Exposure?",
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"summary": "Since differences in catastrophe-model estimates essentially result from differences in frequency and severity assumptions, modeling pioneer Karen Clark proposes that rating agencies use “benchmark” 100-year catastrophes to gauge cat risks for rated companies, rather than PMLs that can vary widely depending on the modeler and the version of the model...",
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"uri": "/2011/02/21/insurers-urged-to-harness-web-to-grow-profitable-ho-biz/",
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