Karen Clark & Co. News

Catastrophe Modeler Says Global Warming Increased Wind Losses by 11%

Global warming has already driven an 11% increase in insured wind losses and those losses will grow by an additional 10% to 19% by 2050, Karen Clark & Co. said in a paper released Monday. The catastrophe risk modeling firm …

Never Mind COVID, 2020 Was a Catastrophe for US Insurers

In case you forgot, the year that just passed brought an unprecedented number of catastrophes — not to mention COVID-19. Three insurance industry reports issued this week chronicle just how bad 2020 was for property insurers. CoreLogic released a chronology …

Hurricane Zeta Insured Losses May Surpass $4 Billion

Insured losses from Hurricane Zeta, which became fifth named storm to strike Louisiana when it made landfall on Oct. 28, ranged from $1.5 billion to $4.4 billion, according to projections released Monday by two catastrophe risk modelers. Verisk subsidiary AIR …

Delta Losses Bring Hurricane Damages to $26B for Year

Hurricane Delta caused from $700 million $1.2 billion in insured losses from wind damage and storm surge, and an additional $800 million to $1.5 billion in losses to offshore structures, CoreLogic said Tuesday. The damage is far less than estimated …

Claims Shops Deploy Remote Adjusting For Storm Damages Expected to Top $4B

With insured losses projected to reach $4.2 billion, Hurricane Isaias’ rampage from the Caribbean to Canada was the first significant event from a claims perspective since Hurricane Irma struck Florida in 2017, a claims executive for Crawford & Co. said …

Tropical Storm Fay Leaves About $400M in Insured Losses Behind

Tropical Storm Fay managed to cause about $400 million in insured losses after coming ashore in Atlantic City, New Jersey on July 10 with 60 mph wind, even though it was downgraded to a tropical depression only nine hours after …

Hurricane Dorian Leaves Bahamas With Estimated $7 Billion in Damages

Hurricane Dorian inflicted an estimated $7 billion in total insured and uninsured losses on the Bahamas, according to catastrophe risk modeling firm Karen Clark & Company (KCC). This includes building, contents, and business interruption exposures for commercial, residential and industrial …

Private Insurance Losses from Tropical Storm Barry to Add Up to Nearly $300 Million

Catastrophe modeling firm, Karen Clark & Co. (KCC), says insured losses from Tropical Storm/Hurricane Barry and its remnants will near $300 million. That figure does not include National Flood Insurance Program (NFIP) losses. KCC based the estimate on its high …

Business News: American Family, Grange Insurance, Karen Clark & Co.

American Family Insurance, Frontpoint Partner to Protect Homes American Family Insurance is partnering with wireless home security provider Frontpoint (www.frontpoint.com) to make it easier and more affordable for customers to protect their homes and families using cutting-edge technology. Starting this …

Karen Clark & Company Releases Updated U.S. Earthquake Model

Karen Clark & Company (KCC) released a new U.S. earthquake Reference Model as part of the RiskInsight open loss modeling platform. The earthquake model is based on the latest 2014 US Geological Survey (USGS) report incorporating updated seismicity assumptions and …