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A.M.BestTV: Risk Model Expert Karen Clark Explains "Characteristic Events"
[August 25, 2014]

A.M.BestTV: Risk Model Expert Karen Clark Explains "Characteristic Events"

OLDWICK, N.J. --(Business Wire)--

In this A.M.BestTV episode, Karen Clark, principal at Karen Clark & Company, explains why insurers and risk managers should look beyond traditional loss analysis and consider identifiable characteristics of catastrophe events.

Clark discusses a tool companies are incorporating into their risk modeling, called Characteristic Events. This metric uses the same data underlying in catastrophe models, but "the probabilities are based on the hazard": the methodology is specifically created to represent characteristics of an event for targeted regions for a selected time frame. "The event doesn't stay the same; the probability of that event stays the same," said Clark. "So the CE methodology does something that PML (probable maximum loss) approach does not do: to clearly identify where a company has exposure concentrations and where they have hot spots."

Click here to view the video program:

A full-length interview with Clark is also available at

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A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit

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