North Carolina Rate Bureau Selects Verisk

September 23, 2019 / 2 min read

JERSEY CITY, N.J., September 23, 2019 — Verisk (Nasdaq:VRSK), a leading data analytics provider, has been selected by the North Carolina Rate Bureau (NCRB) to help develop a new program aimed at protecting homeowners from losses suffered due to the damaging effects of flooding.

Verisk was selected because its ISO business has been a leader in providing broad, flexible, and court-tested policy language. The new program’s forms closely align with language ISO has already filed in numerous states as part of its multistate flood program, and they track with standard homeowners policy language in a way that facilitates individual insurers offering coverage beyond the National Flood Insurance Program (NFIP).

“Major storms in the past few years have highlighted the need for an expanded flood insurance market in North Carolina,” said Ray Evans, NCRB’s general manager. “By assisting with policy language, Verisk has played a key role in helping us make critical flood insurance available to more of the state’s population.”

“Our policy forms are consumer-friendly with language generally similar to the standard homeowners policy most consumers know,” said Marc Treacy, managing director of flood insurance at Verisk. “The NCRB’s new program will feature coverages that homeowners can understand and embrace.”

ISO constantly tracks insurance legislation and court cases and updates its vast library of policy language, ratings, and rules to cover the latest risks. These programs constitute a range of core services that help regulators make sure policies meet basic coverage expectations, simplify claim settlements, and assist insurers in entering new markets and lines of business. To learn more about our flood insurance options, visit www.verisk.com/floodinsurance.

About Verisk
Verisk (Nasdaq:VRSK) provides predictive analytics and decision-support solutions to customers in the insurance, energy and specialized markets, and financial services industries. More than 70 percent of the FORTUNE 100 relies on the company’s advanced technologies to manage risks, make better decisions and improve operating efficiency. The company’s analytic solutions address insurance underwriting and claims, fraud, regulatory compliance, natural resources, catastrophes, economic forecasting, geopolitical risks, as well as environmental, social, and governance (ESG) matters. Celebrating its 50th anniversary, the company continues to make the world better, safer and stronger, and fosters an inclusive and diverse culture where all team members feel they belong. With more than 100 offices in nearly 35 countries, Verisk consistently earns certification by Great Place to Work. For more: Verisk.com, LinkedIn, Twitter, Facebook, and YouTube.

Contact:
Brett Garrison
Edelman (for Verisk)
917-639-4903
Brett.Garrison@edelman.com

North Carolina Rate Bureau Selects Verisk to Help Develop New Flood Insurance Program