Weather

FireLine and the Fort McMurray Fire

As of this writing, firefighters are still battling the Fort McMurray fire in Western Canada, and authorities are restricting access to the area. The fire is a major incident, and Verisk’s Property Claim Services ® (P...

PCS Commercial Lines Catastrophe Planning and Response Report is released

Property Claim Services ® (PCS ® ) has published a new benchmarking study, the PCS Commercial Lines Catastrophe Claims Planning and Response Report . This report details results of a survey of industry participants on...

May 2016 Preview: Historical Catastrophe Activity

To the U.S. insurance industry, the month of May signals that hurricane season is right around the corner—with claims teams preparing for an unpredictable next few months. Significant catastrophe activity has occurred...

Blockchain, IoT, and Streamlined Claim Handling

At the Uniglobal Insurance Claims Management Conference, I heard a lot of doom and gloom about the future of claim handling—and the future of the insurance industry in general. New business models are poised to enter...

Blockchain, Smart Contracts, and Index Triggers: Count the Frictional Costs As They Disappear

Is the insurance industry watching developments in blockchain  technology? Some of our folks in the market are, but it’s pretty clear to me that the focus is the other way around. The blockchain community has its eye ...

April 2016 Preview: Historical Catastrophe Activity

Between 1950 and 2013, the month of April saw more violent tornadoes—EF4 and EF5—than any other month. Over the past ten years, there have been 267 tornadoes on average in April in the United States. The April 2011...

March 2016 Preview: Historical Catastrophe Activity

During the month of March between 2006 and 2015, Property Claim Services ® (PCS ® ) designated 28 weather-related catastrophe events. Those events caused approximately $12 billion in insured losses and resulted in 2.1...

February 2016 Preview: Historical Catastrophe Activity

From 2005 through 2015, Property Claim Services ® (PCS ® ) designated 29 catastrophes during the month of February, which included 27 weather-related events and two workers' compensation events, collectively causing...

January 2016 Preview: Historical Catastrophe Activity

Property Claim Services ® (PCS ® ) has designated 15 catastrophes, 11 winter storms, and four wind and thunderstorm events during the month of January since 2006, resulting in $5.7 billion in insured losses. The large...

PCS publishes new report on catastrophe claims planning and response management

Managing catastrophe claims operations requires coordination and planning, often on a massive scale. Property Claim Services ® (PCS ® ) has published a new benchmarking study, PCS Personal Lines Catastrophe Claims...