U.S. insured losses from storms this year have a 5 percent chance of exceeding Hurricane Katrina's $38.1 billion total in 2005, a catastrophe modeling executive warned at an industry conference last week.
Karen Clark, president and chief executive officer of Boston-based AIR Worldwide, gave the forecast at a catastrophe conference in Baltimore, organized by Property Claim Services, a unit of the Jersey City-based Insurance Services Office.
Ms. Clark also predicted catastrophe losses “will double about every 10 years due to increases in the numbers and values of properties at risk,” according to ISO's report of her remarks.
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
