Overview
Perhaps the biggest surprise of the 2017 hurricane season was the wide disparity between the catastrophe model loss estimates. The actual losses aligned well with the Karen Clark & Co. projected loss estimates for the industry as a whole and for individual insurers. The firm estimated that the privately insured loss in the US and Caribbean for Harvey, Irma, Maria and Nate would total $70 billion.
The report’s findings highlight the value of the Karen Clark & Co.’s open models and advanced tools that insurers are using to track hurricanes in real time and to leverage their detailed claims data. This report contains an overview of the following with discussions of each of the above mentioned catastrophic events:
- Meteorological Highlights and Forecasts
- Modeled Loss Estimates
- Meteorological Development
- Real Time Loss Estimation
- Post-Event Damage Survey
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