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Modelers Adjusting To Katrina's Impact

Changes coming on newer versions to reflect increasing hurricane

By Susanne Sclafane | Updated on March 19, 2006

New versions of catastrophe models probably won’t be in place soon enough to directly impact June and July 1 property reinsurance renewal pricing, a catastrophe modeling firm executive warns.

And while Karen Clark, president and CEO of AIR Worldwide in Boston, said she is not yet ready to put out any early indications of how far loss estimates based on the next version of her firm’s model will jump, she did sit down with NU to provide a glimpse of the types of changes on the drawing board and to amplify some concerns about model usage.

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