For over 50 years, Verisk’s ISO insurance forms, rules and loss costs, as well as other offerings within Verisk’s Core Line Services, have supported insurance programs for almost every property and casualty line of business in the industry. But our work is far from done. With our Reimagine initiative, Verisk has embarked on a journey to rethink how we deliver our existing products and services, and continue to create innovative solutions, as part of our mission to deliver value to our customers for the next 50 years.
We hope that hearing from our insurance coverage and regulatory legal team directly will provide you with greater insights, wider perspectives, and even greater value for years to come.
We’ve heard our customers’ feedback. We know you value earlier visibility into our product development and enhancement pipeline. Our Reimagine efforts are designed to offer our customers just that, by pulling back the curtain and providing our customers with greater visibility to our processes and the way we develop and maintain our core lines insurance products and services. This visibility should help better inform our customers as they make their own business decisions, including how they may choose to proceed in response to updates to our core insurance programs.
While many of our customers are familiar with the product teams who lead our product development efforts, as well as the compliance teams who maintain our products, most customers are not as familiar with our insurance coverage and regulatory attorneys who support their efforts. These attorneys have many years of diversified insurance-related professional experience, spanning insurance defense and regulatory practice at law firms as well as previous in-house counsel roles with insurance companies or other financial institutions. Our related legal team leverages that experience and expertise as they work with our product and compliance teams on the Core Lines Services products.
Our related legal team has helped guide our various program revisions in response to legal developments and market trends, including the introduction of cannabis exclusions and coverage options, revisions in response to legislative and regulatory developments, such as the recently introduced California regulation addressing “Consideration of Mitigation Factors; Wildfire Risk Model,” and many, many more.
That’s why this spring, we’re welcoming Verisk’s legal team into a public conversation with our customers, in the form of Visualize articles offering perspectives on legal topics relevant to property/casualty insurers, as part of our new Reimagine initiative. The first planned article, due out later in the first quarter of 2023, concerns nonfungible tokens or NFTs.
Our insurance coverage and regulatory attorneys plan to host an in-house insurer counsel roundtable designed to bring in-house counsel from insurance company customers together with our own legal experts to exchange views and perspectives on emerging insurance coverage issues, and legislative, regulatory and case law trends, as well as to discuss select ISO program revisions either under consideration or development. You can also expect to see some members of our legal team serve as speakers at select forums and webinars in the future.
We hope that hearing from our insurance coverage and regulatory legal team directly will provide you with greater insights, wider perspectives, and even greater value for years and decades to come.
With our Reimagine initiative, Verisk has embarked on a journey to rethink how we deliver our existing products and services, and continue to create innovative solutions, as part of our mission to deliver value to our customers for the next 50 years.