Karen Clark has had an interesting career path. A pioneer in the catastrophe modeling business, she sold her own firm eight years ago, but now essentially makes her living warning people about what cat models can't do–which is replace human judgment. But have insurers gotten the message?
Our latest article on this subject appeared in NU's Feb. 22, headlined “Are Insurers Too Dependent On Catastrophe Modeling?” (You may access the piece by going to http://bit.ly/chMiSI.)
NU's Phil Gusman interviewed experts in the field, and what he found is very comforting, yet scary. Models are a terrific tool to help red flag any potential over-concentration of risk, but they are no substitute for the knowledge, experience and even intuition of human underwriters.
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
