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Industry: Email Alert RSS FeedIs Congress Prepared?(damages caused by hurricances)(Karen Clark - AIR Worldwide Corp.)(Brief article)
Insurance Networking News: Executive Strategies for Technology Management, August, 2006
Karen Clark, president and CEO of Boston-based AIR Worldwide Corp. told members of Congress and their senior staff in June that a single future hurricane or earthquake has the potential to cause insured losses in excess of $150 billion and total economic losses approaching $500 billion. Clark participated in a seminar at the U.S. Capitol Building hosted by the Congressional Research Service titled "Insuring and Mitigating Risks of Large-Scale Disasters: Is Federal Disaster Insurance Needed?"
"There are many potential natural catastrophe scenarios resulting in insured property losses exceeding $100 billion," says Clark. "Examples include a Category 5 hurricane making landfall in Miami, which could result in insured losses of more than $130 billion, and a large...
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