Reinsurance News
Your search for “verisk”
Value of re/insurance for reputational risks shouldn’t be ignored: Johansmeyer, PCS
29th November 2018
When it comes to reputational risk, there’s an argument that the bark is worse than the bite, but that doesn’t mean risk managers shouldn’t secure insurance or reinsurance to protect against major potential reputational events, according to Tom Johansmeyer, Co-Head, PCS Strategy and Development, Verisk Risk Solutions. Reinsurance News recently spoke ... Read the full article
Arch Insurance to use AIR’s catastrophe risk modelling solution
5th November 2018
Arch Worldwide Insurance Group has announced that it plans to use Touchstone, the catastrophe risk modelling solution from Verisk’s AIR Worldwide, to help manage its catastrophe risk. Touchstone is designed to perform advanced analytics that help companies understand their risk, and has recently been updated to include enhancements that allow users ... Read the full article
Implementing autonomous tech into reserving practices a benefit for re/insurers: Mark Hewitt
2nd November 2018
In light of the potential for future changes to the Ogden discount rate, for insurers and reinsurers, the implementation of autonomous technology into their reserving practices offers both cost and time benefits, according to Mark Hewitt, creator of the Verisk piCalculator and Founder, Director and Head of Development at Rebmark, ... Read the full article
Emerging climate risks to drive U.S re/insurance costs: ISO
26th October 2018
A diverse range of emerging climate risks, in combination with rising asset values and population trends, are set to increase the frequency and severity of re/insured losses related to global weather events in the U.S, according to a report from ISO, a Verisk Analytics business. ISO noted that one of the ... Read the full article
AIR develops advanced probabilistic cyber model
22nd October 2018
Global catastrophe risk modeller AIR Worldwide has announced the development of a probabilistic model for cyber risk, which is capable of accounting for security breaches and cloud server provider downtime for global insurance portfolios. The new cyber model from AIR will be included in the firm's latest release of ARC (Analytics ... Read the full article
London Market Group to deliver next wave of TOM tools
22nd October 2018
The London Market Group (LMG) has signed a contract with Sequel, Verisk’s InsurTech software firm, to deliver new solutions for approving and registering coverholders and generating delegated authority binder contracts. The new integrated tools form part of the London Market Target Operating Model (TOM) and will be designed to offer faster ... Read the full article
P&C net income more than doubles to $34bn: ISO
16th October 2018
U.S property and casualty insurers have seen their post-tax net income more than double to $34 billion in first half 2018, thanks in part to lower catastrophe losses, growing premiums, and an increase in investment income, according to a report from ISO, a Verisk Analytics business. Meanwhile, losses and loss adjustment ... Read the full article
Insured Hurricane Michael losses may reach $10bn, says AIR Worldwide
15th October 2018
AIR Worldwide, the catastrophe risk modelling arm of Verisk Analytics, has estimated that industry insured losses resulting from Hurricane Michael’s winds and storm surge will be between $6 billion and $10 billion. Michael made landfall in Florida last week as a Category 4 storm, with sustained wind speeds of up ... Read the full article
Outdated Florida building codes to inflate Michael losses, says AIR
12th October 2018
Property damage caused by Hurricane Michael, which made landfall in Florida as a high-end Category 4 storm on Wednesday, is likely to be exacerbated by the older building stock in the Panhandle region, according to AIR Worldwide, the catastrophe risk modelling arm of Verisk Analytics. AIR noted that the majority ... Read the full article
Hurricane Florence insured losses between $1.7bn & $4.6bn: AIR
18th September 2018
AIR Worldwide, the catastrophe risk modelling arm of Verisk Analytics, estimates that insured losses inflicted by Hurricane Florence’s winds and storm surge will range from $1.7 billion and $4.6 billion; though these figures do not include a range of factors including the ongoing flooding that is expected. “Hurricane Florence, once a ... Read the full article
Insured losses from Japan’s Typhoon Jebi may reach $4.5 billion: AIR Worldwide
10th September 2018
Typhoon Jebi, which made landfall in Japan on September 4, could cause industry insured losses of between JPY 257 billion (US $2.3 billion) and JPY 502 billion ($4.5 billion), according to estimates from AIR Worldwide, the catastrophe risk modelling arm of Verisk Analytics. As the equivalent of a Category 3 hurricane, ... Read the full article
AIR launches new severe thunderstorm model for Europe
10th September 2018
Verisk’s catastrophe risk modeling firm AIR Worldwide has launched a new severe thunderstorm model Europe that captures the effects of straight-line winds and hail. AIR says the model enables companies to assess their risk from the local scale to the macro level on insured properties, including residential, commercial, automobiles, and specialty ... Read the full article
PCS develops county level U.S property catastrophe loss estimates
5th September 2018
Property Claims Services (PCS), a Verisk Analytics business, has developed a new level of granularity for U.S property catastrophe insured loss data, offering county level industry loss estimates and claim counts for events with insured losses of at least US $1 billion. PCS said it has worked closely with insurers in ... Read the full article
Capsicum Re partners with AIR Worldwide on silent cyber risk models
5th September 2018
Specialist reinsurance broker Capsicum Re has announced that it is collaborating with AIR Worldwide, the catastrophe risk modelling arm of Verisk Analytics, in order to enhance the re/insurance industry’s modelling of silent cyber incidents. As part of the arrangement, Capsicum Re has also adopted AIR’s cyber modelling and analytics platform, ARC, ... Read the full article
PCS launches enhanced Cyber Index service for catastrophic cyber events
4th September 2018
Property Claim Services (PCS), a subsidiary of the data analytics and risk assessment firm Verisk, has announced enhancements to its Global Cyber Index service including coverage for catastrophic cyber events, and industry-wide insured losses of over $250 million. The improved product is now available for existing PCS Global Cyber users, addresses ... Read the full article