Catastrophe modeling pioneer and founder of the firm AIR, Karen Clark, has formed a new firm鈥擪aren Clark & Co.鈥攖o help companies better use catastrophe models in important risk management decisions.
The Boston firm will offer consulting services, independent reviews of company internal processes, and executive briefings to provide senior management and their boards with specific information they need to know about catastrophe risk, catastrophe models, and using model results to manage the risk.
Clark developed the first hurricane catastrophe model and in 1987 founded the first catastrophe modeling company, Applied Insurance Research (AIR) which subsequently became AIR Worldwide Corp. after acquisition by Insurance Services office in 2002.
“It’s become clear the industry needs an independent company with the expertise to inform CEOs and their boards on what they need to know about catastrophe risk and catastrophe models and to help them ensure the integrity of their internal risk assessment and management processes,” said Clark. “As rating agencies, regulators and other stakeholders take an increasingly active interest in how companies are assessing and managing risk, independent information and reviews of those processes are becoming much more important.”
Source: Karen Clark & Company
www.karenclarkandco.com
Was this article valuable?
Here are more articles you may enjoy.
‘We’ll Want Some Proof’: State Farm CEO’s Take on NY Auto Insurance Reforms 
Need Wind Mitigation? New Florida Insurer Wants to Help With That 
North Carolina Becomes First State to Pass Outright Ban on Litigation Financing 
Mississippi Insurance Dept. Top Examiner Named in $90M Credit Union Theft Suit 
