Measuring and Managing Climate Risk from the World's Premier Catastrophe Modeler -- Karen Clark

Take the guesswork out of financial decisions at every stage of life with Maxifi: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://maxifiplanner.com/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Designed by Economist Laurence Kotlikoff.

Professor Kotlikoff talks 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.

This episode provides valuable insights into the complex relationship between natural disasters, climate change, and the insurance industry. The discussion not only elucidates how catastrophic risks are assessed and managed but also underscores the economic policies needed to mitigate these risks for future generations. It's an essential listen for anyone concerned with the financial impact of climate change and the role of insurance in today's world.

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Laurence Kotlikoff is a Boston University Economist, a NY Times Best Selling Author, President of maxifi.com, and Author of Money Magic.

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