Property

PCS Pre–Monte Carlo Briefing

The unofficial start of the January 1, 2015, reinsurance renewal season is almost upon us. In a few days, the global reinsurance industry will descend upon Monte Carlo for the annual ritual of 30-minute meetings in...

PCS Site Visit: American Canyon Earthquake

Last week, I was in Napa Valley conducting site visits of residential and commercial structures following the American Canyon earthquake. I also visited the insurance village at the Red Cross Relief Center in Napa,...

First-Half 2014 U.S. Catastrophe Overview

First-half catastrophe losses reached their lowest level since 2010 in the first half of 2014. Property Claim Services ® (PCS ® ), a division of Verisk Analytics, revealed that U.S. catastrophe losses fell just shy of...

Cat Bond Lite Issuance Continues, 40 Percent Use PCS

Cat bond lite issuance has continued into the third quarter. The latest transaction, index-triggered Dodeka III, brings the year’s total to $242 million  according to Artemis.bm . Sponsors have completed ten cat bond...

Washington State Wildfires: Not a PCS Catastrophe Event

After investigating multiple July wildfire events in Washington State, PCS® has determined that insured losses will not meet the criteria for PCS catastrophe designation. Based on our investigation and conversations...

Evolving August Catastrophe Landscape

Hurricane season tends to define a year’s catastrophe results. Last year, for example, only two tropical storms made landfall, contributing to a quiet year overall. In 2004, however, Hurricane Charley, an August event...

PCS Q2 2014 Catastrophe Bond Market Update: Trend Tracking

The rapid growth of the catastrophe bond market, which has reached nearly $6 billion in the first half of 2014 , can be attributed to many factors, some of which extend back for years. However, PCS ® sees five trends ...

How the new PPC grades benefit you

With our new Public Protection Classification (PPC ® ) changes taking effect on July 1, there’s a question insurers may ask: How does this affect me? As noted in my June 12 blog ( New PPC classifications go into effec...

New PPC Classifications go into effect

After more than a year of preparation, the revisions to our Public Protection Classifications (PPC ® ) go into effect on July 1, 2014. We've discussed these changes with our customers and business partners in various...

Wildfire Reports Point to a “Hot” Summer for the Western United States

The National Interagency Fire Center (NIFC) recently issued its North American Seasonal Fire Potential Outlook for the summer of 2014. For the entire season, NIFC projects much of California and parts of Arizona and N...