KCC to Host Industry Leaders at CATLAB® 2025
BOSTON, June 02, 2025--(BUSINESS WIRE)--Karen Clark & Company (KCC) is pleased to announce CATLAB® 2025, taking place in Boston from June 3–5. This annual event brings together market-leading insurers, reinsurers, and ILS investors for three days of in-depth discussions on advanced modeling techniques and the latest science on weather, climate, and extreme events.
This year's event features expert-led sessions on the most consequential events and trends driving future losses, including cyclical and long-term changes in weather patterns. The program also highlights KCC's engagement in evolving regulatory landscapes, such as the new California review process for wildfire models.
In addition, KCC experts will address:
How AI and machine learning are being leveraged in atmospheric science
Evolving global earthquake risk
The latest science on climate change and KCC's climate-conditioned models
"CATLAB is the premier industry event for bringing scientists and industry practitioners together for three days of in-depth discussions on the latest science and modeling advancements," said Karen Clark, KCC CEO. "In an environment where the industry is changing rapidly, our goal is to create new opportunities for companies to leverage more advanced and accurate technology."
"(Re)insurers are facing mounting pressure to adapt in real time to the impacts of extreme weather and climate," added Glen Daraskevich, Senior Vice President. "At CATLAB, KCC scientists detail exactly how advanced science is implemented in the KCC models and how the implementation impacts the loss estimates, so (re)insurers can make better-informed pricing, underwriting, and portfolio decisions."
For more information about CATLAB 2025, contact KCC at info@karenclarkandco.com.
About Karen Clark & Company
Karen Clark & Company (KCC) provides advanced models, innovative software, and comprehensive consulting services for deeper insight into climate, weather, and catastrophe risk. KCC professionals are globally recognized experts in catastrophe modeling and risk management who work with company executives to enhance business strategies, competitive advantage, and financial results. KCC models cover tropical cyclones, extratropical cyclones, severe convective storms, winter storms, wildfires, floods, and earthquakes in over 80 countries. For more information, please visit www.karenclarkandco.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250602399502/en/
Contacts
Daniel AbramsonGregory FCAdabramson@gregoryfca.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
26 minutes ago
- Business Wire
Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm Encourages Fortrea Holdings Inc. (FTRE) Investors To Inquire About Securities Fraud Class Action
LOS ANGELES--(BUSINESS WIRE)-- Glancy Prongay & Murray LLP, a leading national shareholder rights law firm, announces that a securities fraud class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Fortrea Holdings Inc. ('Fortrea' or the 'Company') (NASDAQ: FTRE) securities between , inclusive (the 'Class Period'). Fortrea investors have until August 1, 2025 to file a lead plaintiff motion. What Happened? On September 25, 2024, the investment bank Jefferies downgraded Fortrea from buy to hold, citing perceived weaknesses in the Company's business model as a contract research organization ('CRO') amid pressure on biotechnology funding and that the cost savings Fortrea expects to achieve by existing transition services agreements ('TSAs') are 'not as material as one might think.' On this news, Fortrea's stock price fell $2.73, or 12.3%, to close at $19.48 per share on September 25, 2024, thereby injuring investors. Then, on December 6, 2024, Baird Equity Research stated that '[g]iven our ongoing concerns around the sector, [Fortrea's] choppy history post spin, and lack of clarity on the abrupt communications course change, we cannot recommend an actionable investment (buy or sell)[.]' On this news, Fortrea's stock price fell $1.90, or 8.1%, to close at $21.67 per share on December 6, 2024. Then, on March 3, 2025, before the market opened, Fortrea announced financial results for the fourth quarter and full year 2024, revealing the Company had missed its previously announced guidance for revenue and adjusted EBITDA for the full year 2024. The Company's financial results revealed full year adjusted EBITDA of $202.5 million, well below the Company's previously announced guidance of $220 million to $240 million. The Company also revealed full year revenue of $2.696 billion, which missed previously announced guidance of $2.7 billion to $2.725 billion. The Company further revealed financial guidance for the full year 2025, which projected declines in revenue and adjusted EBITDA, with revenues of $2.450 billion to $2.550 billion and adjusted EBITDA in the range of $170 million to $200 million. Thomas Pike ('Pike'), the Company's then-Chief Executive Officer ('CEO'), explained that 'full-service work for projects from the pre-spin period,' 'have less revenue and less profitability' and 'post-spin work is not coming on fast enough to offset the pre-spin contract economics.' Pike further revealed 'this older versus newer mix issue will continue to negatively impact our financial performance during 2025.' On this news, Fortrea shares fell $3.47, or 25.1%, to close at $10.38 per share on March 3, 2025, thereby injuring investors further. What Is The Lawsuit About? The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Fortrea overestimated the amount of revenue the Pre-Spin Projects were likely to contribute to the Company's 2025 earnings; (2) Fortrea overstated the cost savings it would likely achieve by exiting the TSAs; (3) as a result, the Company's previously announced EBITDA targets for 2025 were inflated; (4) accordingly, the viability of the Company's post-Spin-Off business model, as well as its business and/or financial prospects, were overstated; and (5) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times. If you purchased or otherwise acquired Fortrea securities during the Class Period, you may move the Court no later than August 1, 2025 to request appointment as lead plaintiff in this putative class action lawsuit. Contact Us To Participate or Learn More: If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us: Charles Linehan, Esq., Glancy Prongay & Murray LLP, 1925 Century Park East, Suite 2100, Los Angeles California 90067 Email: shareholders@ Telephone: 310-201-9150, Toll-Free: 888-773-9224 Visit our website at Follow us for updates on LinkedIn, Twitter, or Facebook. If you inquire by email, please include your mailing address, telephone number and number of shares purchased. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Business Wire
31 minutes ago
- Business Wire
SSR Mining Announces Temporary Suspension of Operations at Seabee Due to Power Interruptions Caused by Forest Fires
DENVER--(BUSINESS WIRE)--SSR Mining Inc. (Nasdaq/TSX: SSRM) ('SSR Mining' or the 'Company') announces that operations at Seabee have been temporarily suspended due to power interruptions caused by forest fires in the vicinity of the mine. The forest fires are currently located approximately 15 kilometers to the north of the site. At this stage, the fire does not pose an immediate threat to site and infrastructure, however normal-course safety precautions are being taken to ensure the safety of our staff. Further updates will be provided as necessary. About SSR Mining SSR Mining is listed under the ticker symbol SSRM on the Nasdaq and the TSX. For more information, please visit:
Yahoo
32 minutes ago
- Yahoo
AM Best Downgrades Credit Ratings of Nonprofits Insurance Alliance Group's Members
OLDWICK, N.J., June 04, 2025--(BUSINESS WIRE)--AM Best has downgraded the Financial Strength Rating (FSR) to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) to "a-" (Excellent) from "a+" (Excellent) of Nonprofits Insurance Alliance of California, Inc. (Santa Cruz, CA), National Alliance of Nonprofits for Insurance, Inc. and Alliance of Nonprofits for Insurance, Risk Retention Group, Inc. (both of West Brookfield, VT) which all are members of Nonprofits Insurance Alliance Group (NIA or the group). The outlook of the FSR has been revised to negative from stable, while the outlook of the Long-Term ICRs is negative. The Credit Ratings (ratings) reflect NIA's balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. The downgrading of these ratings reflects a decline in NIA's level of risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio (BCAR), and the increased unfavorable development of prior-year loss reserves, which led to a material decline in surplus in 2024. The adverse reserve development was experienced across several lines of business including improper sexual misconduct liability, directors' and officers' liability and commercial auto liability, which were compounded by social inflation and higher jury verdicts. In addition, due to changes in the commercial insurance market over the last five years, the group experienced substantial growth in premium, which additionally pressured its underwriting leverage metrics and resulting BCAR score. Over the last few years, NIA's management team has undertaken numerous corrective actions aimed at improving results including the non-renewal of problematic business segments, significant rate increases, revised limits, increased deductibles, as well as changes and additions to staff. Given the extent of these actions, AM Best has altered its assessment of NIA's business profile to neutral as these actions may have the potential for market disruption. Furthermore, AM Best expects that management's initiatives will take time to reverse the negative trends, as well as for metrics to return to historical norms. The negative outlook reflects AM Best's concern over the deterioration in NIA's operating performance in recent years. Prior to 2022, the group's underwriting and operating metrics maintained a high level of consistency; however, there has been deterioration in its metrics in more recent years driven by elevated loss and loss adjustment expenses. Negative rating actions may occur if there is continued deterioration in NIA's operating performance that is no longer in line with adequate performance metrics. Negative rating actions may also occur if there is continued significant adverse loss reserve development, which negatively impacts risk-adjusted capitalization or if the corrective actions taken by management fail to improve and stabilize the group's profitability metrics. While unlikely in the intermediate term, positive rating actions could occur if the group exhibits sustained organic surplus growth that is able to absorb variability in reserve development. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Luke Davies Financial Analyst +1 908 882 2467 Adrienne Stark Associate Director +1 908 882 2336 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
