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Karen Clark & Co., the Boston-based catastrophe modeling firm, has released the RiskInsight-lite modelling platform, the company said in a statement Monday.
RiskInsight-lite will allow insurers and reinsurers to track hurricane claims and losses in real time as well as estimate their exceedance probability (EP) curves, the statement said.
“We created RiskInsight-lite to provide only the capabilities of the other cat models plus RiskInsight’s unique real-time event tracking capabilities,” Karen Clark, KCC chief executive officer, said in the statement.
Last Friday, the modelling firm issued insured loss estimates from Hurricane Harvey of some $15.4 billion in insured losses, including flooding, which is projected to cause some $12.4 billion of the total, with wind responsible for $2.5 billion in losses and storm surge responsible for $500 million, excluding claims filed through National Flood Insurance Program, according to the Clark analysis.