Home Breadcrumb caret News Breadcrumb caret Risk Reinsurance (February 01, 2010) NEAR-TERM MODELS ARE OVERESTIMATING INSURED DAMAGES: KAREN CLARK Near-term models designed to project insured losses from Atlantic hurricanes in the United States have significantly overestimated losses for the cumulative 2006-09 seasons, a Karen Clark release says. Three major catastrophe modellers introduced near-term models in 2006 following the destructive 2004 and 2005 hurricane seasons. Actual cumulative […] January 31, 2010 | Last updated on October 1, 2024 1 min read NEAR-TERM MODELS ARE OVERESTIMATING INSURED DAMAGES: KAREN CLARK Near-term models designed to project insured losses from Atlantic hurricanes in the United States have significantly overestimated losses for the cumulative 2006-09 seasons, a Karen Clark release says. Three major catastrophe modellers introduced near-term models in 2006 following the destructive 2004 and 2005 hurricane seasons. Actual cumulative insured losses in 2006-09 totalled $13.3 billion. But assuming long-term average annual insured hurricane losses of $10 billion per year, estimates provided by AIR Worldwide (AIR), EQECAT and Risk Management Solutions (RMS), initially projected insured losses for 2006-09 at $48.8 billion (AIR), $54.5 billion (EQECAT) and $54.6 billion (RMS), respectively, Karen Clark & Company said in a press release. Save Stroke 1 Print Group 8 Share LI logo
