Reinsurance News
Karen Clark & Company
Insured Haiti quake loss estimated at $250mn by KCC
17th August 2021
Catastrophe risk modeller Karen Clark & Company (KCC) has estimated that insured losses from the M7.2 earthquake that hit Haiti last week will be around $250 million. However, with insurable, or economic, losses estimated at around $1.7 billion, only around 14.7% of the overall cost of the quake will be covered ... Read the full article
KCC US Hurricane Model Version 3.0 certified in Florida
8th June 2021
Catastrophe risk modeller Karen Clark & Company (KCC) has announced that its US Hurricane Reference Model Version 3.0 has been certified by the Florida Commission on Hurricane Loss Projection Methodology (FCHLPM). The certification follows on from the approval of the KCC US Flood Model certification last December. The FCHLPM was established in ... Read the full article
US winter storm Uri insurance industry loss lifted to $18bn by KCC
19th February 2021
Catastrophe risk modeller Karen Clark & Company (KCC) has updated its insurance and reinsurance industry loss for U.S. winter storm Uri, which is currently impacting southern states, to $18 billion. The devastating storm arrived on the country's President’s Day weekend bringing damaging ice in the Northwest and snow across the Midwest ... Read the full article
US winter storm Uri set to inflict record-breaking, multi billion-dollar industry losses
19th February 2021
Winter storm Uri, currently wreaking havoc across southern US states, looks set to become the largest on record for re/insurers, potentially surpassing the cost of 2017’s hurricane Harvey. Storm Uri landed over the US’ President's Day weekend bringing damaging ice in the Northwest and snow across the Midwest and Northeast. Texas has ... Read the full article
KCC releases US winter storm reference model
13th January 2021
Catastrophe risk modeller Karen Clark & Company has announced the release of its new US Winter Storm Reference Model. The model leverages a physics-based methodology to capture winter storm loss potential from snow and ice, freezing temperatures, and high winds. “Winter storms are challenging to model, both due to their meteorological complexity and ... Read the full article
KCC Flood Model certified by Florida Commission
17th December 2020
Karen Clark & Company’s (KCC) Flood Model has been certified by the Florida Commission on Hurricane Loss Projection Methodology, making it the first to be accepted by them. The KCC Flood Model covers coastal flooding from storm surge and ... Read the full article
Hurricane Laura onshore insured property loss close to $9bn: KCC
31st August 2020
Onshore property insurance market losses in the United States and Caribbean will be close to $9 billion, according to an estimate from Karen Clark & Company (KCC). Karen Clark & Company's industry loss estimate includes $8.7 billion of insured losses in the U.S., driven by hurricane Laura's wind and storm surge ... Read the full article
Isaias to drive $4bn industry loss in US, $200mn in Caribbean: KCC
10th August 2020
Catastrophe risk modeller Karen Clark & Company (KCC) has estimated that Hurricane Isaias will drive an insured loss of $4 billion in the United States and $200 million in the Caribbean. The estimate includes the privately insured wind and storm surge damage to residential, commercial, and industrial properties and automobiles, but ... Read the full article
KCC puts Hurricane Hanna insured losses at close to $350mn
28th July 2020
Karen Clark & Company (KCC) has estimated that insurance industry losses from Hurricane Hanna, the first hurricane of the 2020 North Atlantic hurricane season, will near $350 million. Catastrophe risk modeller KCC notes that its estimate includes privately insured wind and storm surge damage to residential, commercial, and industrial properties and ... Read the full article
KCC puts Tropical Storm Cristobal insured loss at $150mn
10th June 2020
Catastrophe risk modeller Karen Clark & Company (KCC) has estimated that the insured loss from Tropical Storm Cristobal, which made landfall along the US Gulf Coast on June 8th, will be close to $150 million. This KCC estimate includes the privately insured wind and storm surge damage to residential, commercial, and ... Read the full article
Hurricanes and pandemics are “not a good mix”, warns KCC
27th May 2020
On balance, both losses and loss adjustment expenses from hurricanes will increase as a result of the challenges and disruption being caused by the COVID-19 pandemic, says Karen Clark & Company (KCC) in a new report. Numerous forecasters have said that it's likely the 2020 Atlantic hurricane season will see ... Read the full article
Guy Carpenter opts for modelling suite from KCC
24th February 2020
Guy Carpenter, the reinsurance broking arm of Marsh & McLennan Companies, Inc., has agreed to license the catalogue of natural catastrophe models, execution software and analytics from risk modeller Karen Clark and Company (KCC). This multi-year agreement will provide Guy Carpenter’s clients with access to KCC’s suite of natural peril models, ... Read the full article
Jebi sized loss in Japan to hit re/insurers at least once every 20 years, says KCC
17th September 2019
Catastrophe risk modeller Karen Clark & Company (KCC) has revealed that according to its new high resolution Japan Typhoon Reference Model, insurers and reinsurers can expect losses of a similar magnitude to Typhoon Jebi at least once every 20 years, on average. KCC's model shows that re/insurers can anticipate insured losses ... Read the full article
Total cost of Hurricane Dorian in the Bahamas estimated at $7bn: KCC
5th September 2019
Catastrophe risk modeller Karen Clark & Company (KCC) has provided a preliminary total loss estimate of $7 billion for the impact of Hurricane Dorian in the Bahamas. The estimate includes both insured and uninsured losses to building, contents, and business interruption exposures for commercial, residential, and industrial projects, and excludes infrastructure ... Read the full article
Karen Clark & Co highlights vast loss potential from large Tokyo quake
28th August 2019
Analysis by catastrophe risk modeller Karen Clark & Company (KCC) claims that a large magnitude earthquake event impacting Tokyo could drive overall property losses of more than $3 trillion. Japan's positioning at the juncture of four tectonic plates means it is one of the most seismically active areas of the world. Over ... Read the full article
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