Florida PML models underestimate direct Miami hit: Karen Clark

Karen Clark, CEO of the eponymous modelling firm, has
highlighted the disparity between most insurers' probable
maximum loss (PML) models for a one-in-100-year event and the
likely insured cost of a direct hit on a populated area.
Speaking on a Bank of America client call earlier this week, the
Karen Clark & Co (KCC) CEO said PML models didn't drill
down into scenarios in which specific, highly populated and insured
cities were hit by a Category 5 hurricane.
By contrast,...