Reinsurance News
Verisk
Verisk is a leading strategic data analytics and technology partner to the global insurance and reinsurance industry.
Read our Verisk insurance or reinsurance news and analysis below.
PCS explores the complex development of Hurricane Ida: Interview
7th December 2021
The impact of Hurricane Ida in the third-quarter has already been significant for the insurance and reinsurance industry, but complexities in the reconstruction and recovery means there's uncertainty surrounding the ultimate hit to the industry as the loss continues to develop. With this in mind, the latest live ... Read the full article
Private US P&C insurers posted strong net income growth in H1 2021: Verisk
18th November 2021
A joint report from Verisk and the American Property Casualty Insurance Association (APCIA), has shown that private property/casualty insurers in the United States posted strong net income growth in the first half of 2021. As the U.S. economy recovers from the pandemic, insurers' net income rose to $37.5 billion in the ... Read the full article
PCS to include worldwide aviation events in specialty lines loss reporting
3rd November 2021
Property Claim Services (PCS), a Verisk business, is expanding its specialty loss lines reporting platform to include worldwide insured aviation loss events. PCS Global Aviation is to focus on events with estimated industrywide insured losses of at least $50 million and, in addition to airline industry losses, will include estimates for ... Read the full article
Verisk agrees to acquire ACTINEO
28th October 2021
Global data analytics provider Verisk has agreed to acquire ACTINEO, a claims management solutions provider. With the acquisition, Verisk will add ACTINEO’s established claims management solutions to Verisk’s leading data analytics and insurance ecosystem, providing customers with digitalisation and medical expertise solutions throughout the entire claims process. The agreement will enable Verisk ... Read the full article
Verisk invests in London insurtech HUG HUB
12th October 2021
Global data analytics provider Verisk has made a strategic investment in London based Insurtech HUG HUB in a deal designed to enable the latter to expand and enhance its platform. HUG HUB’s digital platform aims to transform the way insurers, managing general agents and brokers engage with their customers. With Verisk’s support, ... Read the full article
COVID could elevate US hurricane claims: PCS
13th August 2021
Due to the increasing number of COVID-19 cases across areas of the United States, there is potential for added pressure to the catastrophe re/insurance market, according to Verisk company PCS, who has undertaken research on the matter. Last month, PCS Head Tom Johansmeyer warned that a pandemic resurgence could have ... Read the full article
Cat risk models vital when preparing for wind & wildfires: Mark Anquillare, Verisk
10th August 2021
Recent, devastating hurricane and wildfire seasons have served to highlight just how vital catastrophe risk modelling is in preparation for the upcoming season, according to Mark Anquillare, Chief Operating Officer & Group President, Verisk. In a recent interview with Reinsurance News, Anquillare discussed what insurers and reinsurers can do to help ... Read the full article
Verisk insurance revenues up 11.8% in Q2
4th August 2021
Data analytics provider Verisk has reported overall revenue growth of 10.1% to $747.5 million during the second quarter of 2021, boosted by revenue growth of 11.8% in its insurance segment. Underwriting and rating revenues increased 11.2% in the quarter, resulting from annual increases in prices following enhancements to the content of ... Read the full article
AIR Worldwide updates Japanese earthquake and typhoon models
27th July 2021
Catastrophe risk modelling firm AIR Worldwide has updated its earthquake and typhoon models for Japan to help provide re/insurance companies with a more comprehensive view of risk in the region. AIR's earthquake model captures the country's seismicity by generating events along known crustal faults, along and within subduction zones, and within ... Read the full article
Increase reported in P&C insurers’ Q1 net income: Verisk, APCIA
27th July 2021
According to Verisk and American Property Casualty Insurance Association (APCIA), private property & casualty (P&C) insurers in the United States saw their net income increase in the first quarter of 2021 compared to the previous year, while their combined ratio worsened. The report noted that insurers’ net income after taxes increased ... Read the full article
“Cyber market needs to catch up fast”: Verisk’s Bethany Vohlers
22nd June 2021
Recent attacks on the Colonial Pipeline and on the meat processor JCS have highlighted the ongoing threat of cyber attacks to national infrastructure and the global supply chain, and shown that there is an urgent need for the cyber market to “catch up” with the risk. This is according to Bethany ... Read the full article
Verisk & APCIA weigh P&C insurance impact after “turbulent year”
28th May 2021
A new report by data analytics provider Verisk and the American Property Casualty Insurance Association (APCIA) has looked at the overall impact to property and casualty (P&C) insurer following a year marked by a global pandemic and unprecedented catastrophic events. The “turbulent year” saw private US P&C insurers’ net income after ... Read the full article
Climate change could impact US corn yields by 40%: AIR
21st May 2021
In collaboration with data analytics provider Verisk, David Victor and experts from AXIS Capital, explored how climate change may affect agricultural risk in the United States, specifically looking at the impact on corn yield. Verisk’s extreme event modelling business unit, AIR Worldwide (AIR), conducted the research to isolate effects of variation ... Read the full article
Verisk launches AI-driven, life insurance solution
13th May 2021
Global reinsurer SCOR has provided extensive feedback on a new Verisk-developed life insurance solution designed to distill insights from medical notes in electronic health records. EHR Triage Engine Plus leverages natural language processing and artificial intelligence and was developed in a collaborative effort between the two firms. The solution can be integrated ... Read the full article
Verisk insurance revenues up 8.1% in Q1
5th May 2021
Data analytics provider Verisk has reported overall revenue growth of 5.3% to $726.1 million during the first quarter of 2021, boosted by revenue growth of 8.1% in its insurance segment. Underwriting and rating revenues increased 7.7% in the quarter, resulting primarily from annual increases in prices derived from enhancements to solutions ... Read the full article
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