Applied Insurance Research founder announces the formation of a new independent firm

Karen Clark today announced the formation of a new independent firm—Karen Clark & Company—to help companies use catastrophe models for making risk management decisions.

In her new company, Clark will be working closely with senior executives and boards of directors to put in place effective risk management processes.

Clark, president and CEO of Karen Clark & Company, said: “It’s become clear the industry needs an independent company with the expertise to inform CEOs and their boards on what they need to know about catastrophe risk and catastrophe models and to help them ensure the integrity of their internal risk assessment and management processes. As rating agencies, regulators and other stakeholders take an increasingly active interest in how companies are assessing and managing risk, independent information and reviews of those processes are becoming much more important.”

In 1987, Clark founded the first catastrophe modelling company, Applied Insurance Research (AIR).