Boston — Karen Clark, former president and CEO of AIR Worldwide formed an independent firm—Karen Clark & Co.—to help companies better use catastrophe models as sophisticated tools for making important risk management decisions.

In her new company, Clark will work closely with senior executives and boards of directors to make sure their companies have in place effective risk management processes that conform to best practices. Boston-based Karen Clark & Co. will offer consulting services, independent reviews of company internal processes and executive briefings to provide senior management and their boards with specific information they need to know about catastrophe risk, catastrophe models and using model results to manage the risk.

"While the catastrophe models and applications will continue to evolve and improve over time, the bigger challenges now are in helping companies get full value from these tools" says Clark, president and CEO of Karen Clark & Co. "Senior executives and directors of companies exposed to catastrophes realize they need independent information about catastrophe risk and best practices for managing that risk because every year the financial exposure to catastrophe loss increases. Companies have asked me for more insight so I am very excited to be taking on these new challenges and working with industry leaders to develop more effective and holistic risk management processes."

Source: Karen Clark & Co.

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