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Consultants Create Model For Terrorism Loss Cost Estimates

AIR Worldwide, the Boston consulting firm headed by Karen Clark, has developed working models that insurance companies can use to forecast the cost of disasters such as the World Trade Center attacks. Clark and her associates are widely recognized in the industry for creating Probable Maximum Loss (PML) estimates for hurricanes and other natural disasters. Risk Management Solutions of Newark, CA, headed by Hemant Shah, a Stanford University civil engineer, also has developed terrorism models.