In this episode I talk with Karen Clark, co-founder and CEO of KCC (Karen Clark and Company), a pioneer in the field of catastrophic risk assessment. Karen, who created the catastrophic modeling industry, has become a leading voice in understanding and quantifying the economic impacts of natural disasters. Recognized as the 6th most influential person in the insurance industry, Karen's contributions have revolutionized how property damage and losses from extreme events are modeled and managed. With an extensive background in economics and management, coupled with an MBA from Bolshevik University, Karen's expertise is unmatched in her field.
Topics Covered:
Economic Costs of Climate Change
Modeling Catastrophic Events
Insurability and Policy Implications
Mitigation and Future Generations
Time Stamps:
00:00 Karen's success in catastrophic risk modeling.
08:55 KCC focuses on property losses from extreme events.
15:11 Predicting future events to mitigate financial impact.
19:18 Analyzing fruit demand using mathematical and empirical methods.
24:57 Innovations improve weather prediction with physical modeling.
28:18 One-third staff are PhDs in various fields.
33:35 Home insurance premiums rise due to cost.
40:28 Rising wildfire risks in previously unaffected areas.
44:54 Sea level rise and climate denial's impact.
51:14 Proposal: National insurance for regional natural disasters costly.
55:43 Optimal carbon tax in relation to risk.
01:01:51 Fixing market failures redistributes resources for everyone.
Economic Matters - The podcast is hosted by Laurence Kotlikoff, a Boston University Economist, a NY Times Best Selling Author, President of maxifi.com, and Author of Money Magic.
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Measuring and Managing Climate Risk from the World's Premier Catastrophe Modeler -- Karen Clark