Using Recent Hurricane Data To Evaluate Prospective Risk Models (pdf) EQECat. Karen Clark & Company - Critique of near term hurricane model efficacy. Generates Exceedence Probability Curves and Average Annual Losses BOSTON, MA, March 25, 2014 - Karen Clark & Company (KCC) today announced that RiskInsight, the open platform for catastrophe risk management, is now a fully probabilistic loss estimation tool capable of generating exceedence probability (EP) curves, probable maximum losses (PMLs) and average annual losses (AALs).
RiskInsight now provides all of the risk metrics of a traditional catastrophe model plus the unique Characteristic Event (CE) loss estimates. "RiskInsight is more advanced than the vendor models because it's an open platform, meaning the components are fully transparent and customizable by the user," said Karen Clark, CEO, KCC. "RiskInsight is also the only modeling platform that gives companies CE loss estimates for selected return periods—the flip side of what they get from the EP curves. " With the new capabilities, RiskInsight is now being used for pricing both individual policies and portfolios of policies. Near term models - KC&Co critique reporting by Risk & Insurance Online.