Reinsurance News
Karen Clark & Company
Re/insurance to cover less than 20% of $200m Ridgecrest quake loss: KCC
24th July 2019
The Magnitude 7.1 earthquake that impacted the towns of Ridgecrest, Argus, and Trona in the U.S. state of California in early July, is expected to result in overall damages of around $200 million, with the insured loss likely to be less than $40 million, according to Karen Clark & Company ... Read the full article
Hurricane Barry private market loss at almost $300mn: KCC
16th July 2019
Catastrophe risk modeller Karen Clark & Company (KCC) has estimated that Hurricane Barry will drive an insurance industry loss of close to $300 million, excluding National Flood Insurance Program (NFIP) losses. Barry made landfall 160 miles west of New Orleans on Sunday as a Category 1 hurricane, reaching maximum sustained winds ... Read the full article
Cat 5 storm landfall near Miami would drive residential losses of over $200bn, says KCC
19th June 2019
A new risk model from Karen Clark & Company (KCC), which contains over 90,000 hurricanes, estimates that a strong Category 5 storm making landfall near Miami would drive re/insured residential losses of more than $200 billion. KCC explains that one of the worse-case scenarios for the state of Florida is a ... Read the full article
KCC releases $2.5bn insured loss estimate for Hurricane Florence
17th September 2018
Insured losses resulting from Hurricane Florence, which has battered North and South Carolina with strong winds and intense rainfall since making landfall on Thursday night, are expected to total just $2.5 billion, according catastrophe modeller Karen Clark & Co. (KCC). KCC’s estimate, which is based on the firm’s high-resolution U.S Hurricane ... Read the full article
$125m insured losses expected from tropical storm Gordon: KCC
6th September 2018
High resolution modelling by Karen Clark & Co (KCC) estimates that the insured loss from Tropical Storm Gordon, which made landfall near the Alabama/Mississippi border on September 4 with 70 mph sustained wind speeds, will be close to $125 million. Modelled estimates include losses to residential, commercial, and industrial properties as ... Read the full article
Texas hailstorm causes almost $1bn in insured damages: KCC
13th June 2018
The June 6th hailstorm that battered the Dallas, Tarrant, and Denton counties of Texas is expected to generate almost $1 billion in insured losses to residential and commercial properties and automobiles, according to catastrophe modeller Karen Clark & Co. (KCC). The storm reportedly brought baseball sized hailstones to some areas, and ... Read the full article
Wide ranges and divergent hurricane loss estimates 2017’s biggest surprise: Karen Clark
11th June 2018
After years without a major U.S. landfalling hurricane, Harvey, Maria, and Irma devastated parts of the region and the Caribbean in the second-half of 2017. But perhaps the biggest surprise of the 2017 storm season was the wide ranges and divergent modelled loss estimates for the events, according to Karen ... Read the full article
$50m insured losses from Storm Alberto, estimates KCC
30th May 2018
High resolution modelling by Karen Clark & Co (KCC) has estimated total insured losses from the first named storm of 2018’s hurricane season Alberto at $50 million, a figure which includes residential, commercial/industrial property and auto losses. Alberto formed as a subtropical storm over the western Caribbean on May 25, tracking ... Read the full article
$2.5bn losses expected from U.S. Ring of Fire weather system, KCC says
24th May 2018
Catastrophe modelers Karen Clark & Company (KCC) estimate damage resulting from the Ring of Fire weather system between May 11 and May 16 will inflict $2.5 billion in insurance claims to residential and commercial properties and automobiles. Many states east of the Rockies- including Colorado, Connecticut, Illinois, Indiana, Iowa, Kansas, Maryland, ... Read the full article
Expected annual severe convective storm losses higher than hurricanes & earthquakes combined: KCC
13th April 2018
Recent analysis from Karen Clark & Company (KCC) that utilises its severe convective storm (SCS) Reference Model shows that the peril is a growing concern for the insurance and reinsurance industry, driving expected annual aggregate losses above the expected insured losses from hurricanes and earthquakes combined. According to KCC analysis, the ... Read the full article
Karen Clark & Co. puts hurricane Nate insured loss at almost $500 million
9th October 2017
Karen Clark & Company (KCC) expects the insurance and reinsurance industry loss from hurricane Nate to be almost $500 million, the company has announced. Hurricane Nate formed as a tropical depression in early October, before upgrading to a tropical storm on October 5th. The event brought widespread flooding to parts of ... Read the full article
Hurricane Maria to result in $30 billion insured loss: KCC
29th September 2017
Karen Clark & Company (KCC) has provided an insurance industry loss estimate of just under $30 billion for the damages caused by the impacts of hurricane Maria, with the majority of the loss coming from Puerto Rico. KCC's insured loss estimate is based on Version 1.0 of its high resolution Caribbean ... Read the full article
Hurricane Irma insured losses at $25 billion: KCC
14th September 2017
Insured losses from Hurricane Irma, driven by storm surge, inland flooding and high winds in the U.S. and parts of the Caribbean have been estimated at $25 billion by Karen Clark & Company (KCC). The estimate of $18 million insured U.S. losses and $7 million in Caribbean losses, includes damage to buildings, ... Read the full article
KCC’s new RiskInsight-lite facilitates tracking of hurricane losses in real-time
5th September 2017
Global catastrophe risk modeller, Karen Clark & Company (KCC), has announced the launch of a new modelling platform that gives insurers and reinsurers the ability to track claims and losses in real-time from live hurricanes, called RiskInsight-lite. The new modelling platform also enables insurance and reinsurance companies to estimate their exceedence ... Read the full article
Harvey a $15.4bn insured loss (ex NFIP), over $12bn inland flooding: KCC
1st September 2017
Excluding any National Flood Insurance Program (NFIP) claims, Karen Clark & Company (KCC) has estimated the total insurance and reinsurance industry loss from hurricane Harvey to be at around $15.4 billion. Broken down, KCC estimates inland flooding to drive the majority of the insured loss, accounting for $12.4 billion of the ... Read the full article
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