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Bloomberg: Can Catastrophe Bonds Insure the Uninsurable?

Climate change fueled by rich nations has made parts of the planet seemingly uninsurable. Catastrophe bonds have been sold as a clever solution that spreads the risk, and great reward, to investors. But critics say they can leave vulnerable nations out of luck when disaster strikes.

ABC News: $2M worth of Nikes stolen after thieves target freight trains in California, Arizona

The most recent robbery saw suspects make off with more than 1,900 pairs of unreleased Nikes worth more than $440,000, court records show. Tracking devices inside some cargo led to 11 arrests.

Insurance Journal: California Wildfire Claims Ignite Industry-Wide Credibility Crisis

The numbers tell a sobering story. With wildfire losses between $28 billion and $35 billion based on projections from Verisk, insurers have been forced to make difficult decisions about coverage and claims handling.

Carrier Management: Rebuilding Costs Rose More Than 60% in the Last Decade: Verisk

Over the past decade, there’s been a dramatic increase in reconstruction costs, according to Trish Hopkinson, head of 360Value at Verisk. The 10-year analysis examined residential and commercial reconstruction costs between October 2014 and October 2024.

Insurance Journal: Personal Lines Turnaround Fuels US P/C Industry Underwriting Gain

A turnaround in the personal lines insurance segment results was a key driver of an overall $3.8 billion profit from underwriting for the U.S. property/casualty insurance industry, according to a new report from AM Best.

Insurify: Rising Reconstruction Costs May Keep Property Insurance Rates Climbing

Rising reconstruction costs are making it even more expensive for insurers to pay claims for property damage, according to an August report from the insurance rating bureau Verisk.

ROI-NJ: Verisk Chief Human Relations Officer Sunita Holzer joins Liberty Science Center’s Board of Trustees

Verisk, a Jersey City-based global data analytics and technology provider, recently announced that its Chief Human Relations Officer, Sunita Holzer, has been elected to Liberty Science Center’s Board of Trustees.

Reinsurance News: Verisk’s Whitespace launches new contract library & builder features

Whitespace, a Verisk company and fully digital e-trading platform, has launched a new contract data library and enhanced contract builder functionality.

Global Reinsurance: Verisk estimates Beryl US insured losses in $2-3bn range

Industry insured losses to onshore property from wind in the US for Hurricane Beryl will range between $2bn and $3bn, according to the extreme event solutions group at insurance technology and analytics firm Verisk.

NJ Patch: 8 NJ Companies Named Among Nation’s Greatest Workplaces For 2024

U.S. News and World Report looked at how companies support "the everyday experience" of their employees, ranking the top 300 in the country.

Insurtech Insights: Verisk Launches Tool for Actuaries

Verisk, the global data analytics and technology provider, has launched ISO Experience, a product designed to modernise the way actuaries within insurance analyse risk patterns.

Intelligent Insurer: A different way to attract and keep talent in the insurance market

Sunita Holzer, chief human relations officer at Verisk, shared her insights with Intelligent Insurer in an exclusive interview about the company’s innovative approach to talent acquisition and retention.

Insurance Business Magazine: Revealed – Southern Germany floods' estimated costs to re/insurance

The Extreme Event Solutions unit at global data analytics and technology provider Verisk has estimated that industry insured losses from flooding in Southern Germany between May 15 and June 5 will range from €2.4 billion ($2.6 billion) to €3.6 billion ($3.9 billion).

NPR: European farmers angry at climate policies could help sway EU parliamentary elections

Last year, Anthony Lee received a letter from the Agriculture Ministry of the German state of Lower Saxony, where he runs his family’s farm.

Insurance Business: Connecting climate change issues to geopolitical risks

The relationship between climate change and political violence is complex, with climate change exacerbating vulnerabilities in weak states, thereby increasing political instability.

Carrier Management: P/C Insurers Record $9.3B Q12024 Underwriting Gain: AM Best

The U.S. property/casualty industry recorded a $9.3 billion net underwriting gain in the first three months of 2024, according to a recently published AM Best report.

Insurance Times: The Big Question: What was the most important lesson learnt at the Biba Conference 2024?

Industry leaders reflect on the most significant lessons they learned at this year’s conference, or the key takeaways they took back to their businesses.

InsurTech Insights: Earnix Announces Partnership with Verisk

Earnix, a leading global provider of AI-based SasS solutions for financial services, has today announced it is entering a strategic partnership with Verisk, a leading global data analytics and technology provider.

Financial Times: The uninsurable world: how the market fell behind on climate change

Half a century ago, one of the world’s leading reinsurers published a paper on floods, referencing ancient diluvial stories such as the Mesopotamian epic of Gilgamesh, and urged better monitoring of “climatic variations”.

Fast Company: NYC, LA, and DC are at high risk for GenAI-fueled civil unrest. Here’s what’s being done about it

Every technology introduces its fair share of rewards—and risks. Credit cards have exacerbated financial fraud, cloud computing scaled data security concerns, and biometrics have intensified fears of surveillance.

Insurance Journal: How AI Can Reshape Claims Management

Two industry experts answered that question from a few angles during Carrier Management’s annual InsurTech Summit. Frank Giaoui, founder and CEO of Optimalex Solutions, and Shane Riedman, general manager and vice president of anti-fraud analytics at Verisk, shared how their companies tap AI to improve claims management.

Daily Mail: Fraudsters turn to AI and deepfakes to make dodgy insurance claim photos - can YOU tell them apart?

Growing numbers of Britons are using doctored images and documents to make fraudulent insurance claims - with many impossible to spot with the naked eye, This is Money can reveal.

Fox7 (Austin): Crime Watch: Cargo thefts on the rise in Texas, analysts say

Cargo theft is on the rise in Texas with no signs of slowing down. Analysts said technology has helped with the sophisticated fraud schemes.

Insurance Journal: Data Privacy, Human Trafficking Risks on the Rise

The world can at times feel smaller and more connected than ever before. And though there are many tangible benefits to such intermingling of markets, people and products, potential risks nevertheless remain.

Insurance Post: How insurers can up their claims game

Insurers love to talk about claims exaggeration, but David Worsfold asks: are they guilty of some exaggeration of their own?

Bloomberg: Investors in Best Hedge Fund Bet of 2023 Review Climate Assumptions

The risk models that helped drive one of the most lucrative bets of 2023 are increasingly being tested by smaller weather shocks fueled by climate change.

Financial Times: Spot Bolsters Security Measures, Joins Verisk's CargoNet to Combat Cargo Theft

Spot, a North American logistics leader, has joined CargoNet^® from Verisk, a leading global data analytics and technology provider, to fortify its defenses against a surge in cargo theft. This strategic alliance leverages secure data sharing, investigative expertise, and advanced risk analysis to safeguard Spot's customers and maximize cargo recovery rates.

Insurance Edge: Verisk Looks at Property Trends, Claims Costs, Risks & More

The latest insights from Verisk, as they monitor materials costs, labour and supply chain delays in the property claims sector.

Artemis: PCS designates Change Healthcare & MOVEit as cyber catastrophe loss events

Property Claim Services (PCS), the provider of industry loss estimates and loss data globally and a unit of Verisk, has designated two cyber attacks as PCS Cyber Catastrophe Loss Events, meaning they are each expected to result in more than US $250 million of industry insured losses, Artemis has learned.

AM Best: New Jersey Earthquake a Reminder of Seismic Risk

After a 4.8 magnitude earthquake hit New Jersey on April 5, there was an uptick in interest about earthquake insurance among some Garden State residents.

Carrier Management: Tech Bytes: New Partnerships at bolttech, Verisk, Chubb

Verisk, a global data analytics and technology provider, has announced a strategic integration with Seek Now, a claims inspection service provider and business intelligence solution in the residential and commercial property insurance space.

AM Best TV: Verisk's DiModugno: The Biggest Constraint on Analytics Is Data Quality

Louis DiModugno, global chief data officer, Verisk, said getting source data, integrating it, verifying it, and working with partners to provide data remain are ongoing issues. DiModugno spoke with AM Best TV at the InsurTech Hartford Symposium 2024.

Wall Street Journal: A Brazen Yogurt Heist Shows How Cyber Gangs Are Hijacking U.S. Goods

Thieves intercepted a refrigerated container bound for Florida and demanded a $40,000 ransom—part of a surge in fraud that has frustrated freight haulers.

Science: ‘Cold blob’ of Arctic meltwater may be causing European heat waves

Study identifies chain of events linking Arctic warming and extreme European weather.

Bloomberg: Senegal Frees Key Opposition Leaders Before Presidential Vote

Senegal’s authorities freed two key opposition leaders from prison, boosting the anti-establishment campaign before this month’s presidential elections.

AIM Research: Louis DiModugno Assumes Role of Global Chief Data Officer at Verisk

Louis DiModugno, renowned for his expertise in enterprise transformation and data strategy, has been appointed as the Global Chief Data Officer at Verisk.

Reuters: Senegal court confirms March poll, ending weeks of uncertainty

Senegalese presidential candidates faced a shortened race to election day on Thursday after the constitutional council confirmed the delayed vote would be held on March 24, kick-starting a competition that remains wide open.

National Mortgage News: Lender stops issuing mortgages in certain Canadian flood zones

A Canadian lender has stopped issuing mortgages in certain flood zones, a move which echoes pullbacks by residential property insurers in the U.S.

Reinsurance News: Hastings Direct enhances property assessment with Verisk’s UKBuildings

Verisk, an insurance and analytics provider, has recently announced that Hastings Direct will now leverage its UKBuildings database to enhance its capabilities in assessing properties for insurance.

Silicon: FRISS Releases Findings From Insurance Industry Survey About Fraud and Emerging Threats

FRISS, a world leading provider of trust automation solutions for P&C insurers, is thrilled to announce the release of its comprehensive survey on the global landscape of insurance fraud.

Toronto Star: Why would anyone steal $70,000 worth of pistachios? The inside story of a nut heist — and its role in a dangerous trend

Police report an alarming rise in tractor-trailer cargo theft that's putting consumers at risk of eating stolen, potentially tainted food.

Insurance Business UK: Building claims up, but encouraging news on other fronts – Verisk

A new report from Verisk highlights an increase in the cost of building claims, with some improvements observed for those relating to escape of water (EOW).

Insurance Times: TechTalk: AI code of conduct is a start – but ‘comprehensive governance structure’ still needed

On 31 January 2024, a group of 127 industry specialists launched a new voluntary code of conduct around the use of artificial intelligence (AI) in the insurance claims sector.

Archipelago: Discussion with Rob Newbold, President at Verisk Extreme Event Solutions

In Episode 2 of Building Potential, Archipelago's Founder & Chairman, Hemant Shah, is joined by the President of Verisk Extreme Event Solutions, Rob Newbold.

Insurance Journal: 3 Emerging Risks: AI-Driven Civil Unrest, Heavy EVs, Solar Panel Safety

Technology is poised to take over traditional markets and is rapidly creating new ones. For example, this trend is evidenced by the adoption of electric vehicles, demand for solar energy, and the blistering pace of generative AI adoption.

The Washington Post: How the polar vortex could deliver one last blast of wintry weather

A disruption of the vortex could set off a chain reaction reversing the mild weather pattern in a few weeks.

Intelligent Insurer: Europe tops political risks in global ‘electoral supercycle’ - Verisk

Europe could be the political risk hotbed of 2024, with volatility in government profiles leading a variety of SRCC-style risks, analysts at political-risk modeller Verisk Maplecroft have claimed.

Insurance Edge: Ardonagh Specialty Goes Full Whitespace

Whitespace, the fully digital e-trading platform (a Verisk company), and Ardonagh Specialty, the largest independent specialty broker in the London market, today announce that Price Forbes has dramatically widened its adoption of the Whitespace Platform.

CNN: Once banned from the US, this fiery ex-army general is poised to lead Indonesia.

He hadn’t yet won enough votes to clinch Indonesia’s presidential election, but with the confidence of a man poised to take power of one of the world’s largest democracies, Prabowo Subianto gave a press conference.

Wall Street Journal: Silicon Valley Needs to Accept That Insurance Is Boring

Silicon Valley entrepreneurs hate it when the audience gets bored, but they may need to elicit more yawns if they are to transform insurance.

AM Best TV: Verisk's Mican: Election-Year Risks Could Challenge Global Insurance Capacity

Alex Mican, head of PCS global strategy & growth, Verisk, said election years in multiple countries and the associated strikes, riots, and civil commotion risks could theoretically pull capacity from the market.

Continuity Insurance & Risk: Marsh advances digital trading transformation

Marsh has announced the next phase in the rollout of its digital trading initiative for risks placed in the London insurance market, set to be delivered through Verisk’s Whitespace platform.

NJ.com: ‘Polar vortex disruption’ to unleash cold air into U.S. in big winter resurgence

Winter is far from finished according to a nationally known researcher who studies the polar vortex — one of the key sources of the cold air that’s needed to generate snowstorms in New Jersey and other parts of the northern United States.

Scientific American: Wildfire Science Gets a Boost from Worried Insurance Companies

Wildfires have upended the insurance industry, in part because climate change is fueling bigger and more destructive blazes.

CNBC: Coup nations threaten to quit West Africa bloc

Three West African countries currently under the rule of military juntas have announced plans to exit the Economic Community of West African States (ECOWAS), in a further sign of fragmentation across the region.

P&C Specialist: Auto Hail Claims Shot Up 85% Last Year to Add to Insurer Misery

The number of hail claims for damaged autos skyrocketed last year, signaling more steep losses for insurers, who have already been battered by more costly repairs and spiraling labor costs.

Boston.com: When can we expect snow again this winter?

A weakening El Niño, a shifting polar vortex, and the jet stream. If the right conditions align, New England could see its snowiest part of the season yet

Claims Journal: Cargo Thefts Up 59%, Misdirection Top Threat: CargoNet

There were 692 reported thefts of cargo across the United States and Canada in the third quarter of 2023, a 59% increase when compared to the third quarter of 2022, according to CargoNet.

Energy Advisor: How Effectively Is Brazil Leading on Climate Change?

Brazil is set to host the COP climate summit in 2025, and the South American nation’s environment minister, Marina Silva, said recently that both Brazil and the European Union are working on new climate goals.

Insurance Business UK: Business Initiatives: Behind the scenes of the newly launched code of conduct for the use of AI in claims

Yesterday saw the launch of an insurance industry first – a voluntary code of conduct for the development, implementation, and use of artificial intelligence (AI) in claims.

CFO Thought Leader: The Human Equation in Finance - Elizabeth Mann, CFO, Verisk

Elizabeth Mann began her career as a mathematician in academia, spending a decade in the field. Her initial plan had been to become a professor, on a path that would start with a Ph.D. and a postdoc.

AM Best TV: Verisk's DiModugno: The Biggest Constraint on Analytics Is Data Quality

New York Times Magazine: The Great Freight-Train Heists of the 21st Century

Of all the dozens of suspected thieves questioned by the detectives of the Train Burglary Task Force at the Los Angeles Police Department during the months they spent investigating the rise in theft from the city’s freight trains, one man stood out.

FOX Weather: Models point to a warmer end to winter for US

Judah Cohen, Director of Seasonal Forecasting at Verisk's Atmospheric and Environmental Research (AER), explains what models show the rest of winter will look like for the U.S.

Insurtech Insights: Verisk Integrates MSP Navigator into Duck Creek Content Exchange for Enhanced Section 111 Reporting

Verisk has expanded its collaboration with Duck Creek by incorporating MSP Navigator into Duck Creek's Content Exchange based in Boston.

CNBC: Cargo theft spiked over 57% in 2023 vs. 2022, new data shows

Cargo theft incidents were up more than 57% in 2023 compared with the year prior, according to CargoNet, a Verisk company.

Wall Street Journal: A Brazen Yogurt Heist Shows How Cyber Gangs Are Hijacking U.S. Goods

Thieves intercepted a refrigerated container bound for Florida and demanded a $40,000 ransom—part of a surge in fraud that has frustrated freight haulers.

InsurTech Ohio: Spotlight with Hila Sarig-Shavit

Hila Sarig-Shavit is the AVP Core Lines Strategy at Verisk, a leading strategic data analytics and technology partner to the global insurance industry helping businesses, people and societies become stronger, more resilient and sustainable.

AM Best TV: Verisk SVP: Technologies Help Modelers Prepare for Winter Perils

Roger Grenier, senior vice president and director of the global resilience practice at Verisk, discusses the challenges of winter-storm perils and how the latest technology is addressing those hurdles.

Insurtech Insights: Verisk Appoints Doug Caccese and Saurabh Khemka as Co-Presidents of Underwriting Solutions

Verisk has revealed its latest leadership appointments as Doug Caccese and Saurabh Khemka have been appointed as co-presidents of Verisk Underwriting Solutions.

Carrier Management: Tech Bytes: New Partnerships at bolttech, Verisk, Chubb

FOX Weather: What's with all the buzz about the polar vortex?

News about the polar vortex has been flooding social media. Judah Cohen, an atmospheric scientist who specializes in the subject, sorts it all out.

Insurance Post: Q&A: Ben Taylor, Verisk

Ben Taylor, business development director at Verisk, speaks to Insurance Post about life post-acquisition, plans for growth and misconceptions around automation in insurance.

AM Best TV: Insurers Brace for Winter Weather Perils

Insurance professionals and risk modelers look ahead to the winter of 2024, examining the risk landscape and discussing how the insurance industry is prepared for it.

Insurtech Insights: SEVEN Major Trends Transforming the Insurance Industry in 2024

From cyber insurance and generative AI, to embedded offerings and climate risk technologies, the insurance space over the next 12 months will see huge changes.

Insurance Journal: Expert: ‘Active Year Worldwide’ for Rapid Hurricane Intensification

While only three hurricanes made landfall in the United States this year, rapidly intensifying hurricanes in the Atlantic and Pacific oceans charted near the top of record lists in 2023.

Reinsurance News: Verisk names Rob Newbold President, Extreme Event Solutions as Bill Churney retires

Verisk, the global data analytics and technology provider, has named Rob Newbold to succeed Bill Churney as the President, Extreme Event Solutions following his retirement.

Carrier Management: Tech Bytes: New Partnerships at Verisk, INSTANDA, bolttech

Verisk, a global data analytics and technology provider, has expanded its collaboration with the National Fire Protection Association to provide wildfire risk and mitigation data from its Firewise USA recognition program to 12 additional states in the western U.S.

AM Best Audio: Verisk Model Looks to Address Unfair Pricing

Doug Caccese, president of risk assessment at Verisk, said discussion is increasing in and around the insurance industry about equity and fairness.

CIR Magazine: CIR Risk Management Awards 2023

ESG Award
PCS, Verisk

Artemis: Cerchia platform transacts first cyber ILW using PCS Global Cyber trigger

Swiss-headquartered fintech Cerchia has continued to build momentum around its capital markets focused direct risk transfer platform, with a particularly notable cyber trade, that saw a cyber industry-loss warranty (ILW) transacted using a PCS Global Cyber industry-loss index trigger.

Insurtech Insights: Verisk LightSpeed Joins Guidewire Marketplace

Verisk has announced the integration of its LightSpeed® Small Commercial solution onto Guidewire Marketplace.

USA Today: December is here: Will there be a white Christmas in 2023? Experts weigh in.

It's about time to turn our attention to the December holidays, including Christmas. And the question many folks will soon be asking is the perennial "will I have a white Christmas?"

Associated Press: Argentina’s president-elect wants public companies in private hands, with media first to go

Argentina’s right-wing president-elect gave the first indications Monday of how he plans to start shaking up South America’s second-largest economy: with a slew of privatizations.

Reinsurance News: Verisk SBS welcomes two new hires as it strengthens its Solutions-based approach

Verisk SBS, a re/insurance software specialist operating in the London and US markets, has announced appointments of Gordon Bathurst as Director of Solutions, Broking, and Chris Spencer as Director of Solutions, Underwriting, effective immediately.

Forbes: CEO Of Verisk Tells Us How To Protect Our Businesses From Insurance Risks

Lee Shavel, CEO of Verisk, joined Brittany Lewis on "Forbes Talks" to discuss risks businesses are currently facing.

Reuters: Investors pull record sums from Saudi in Middle East fund flight

Foreign investors pulled a record amount of money from U.S. equity funds tracking Saudi Arabia in October as the Middle East's worst violence in decades shook the region's business-friendly narrative.

The New York Times: How to Hijack a Quarter of a Million Dollars in Rare Japanese Kit Kats

Danny Taing’s 55,000 Kit Kats began their long, twisted and sometimes obscure journey in Japan.

Artemis: Storm Ciarán industry loss estimated up to €1.3bn by Verisk

European windstorm Ciarán is estimated to have caused an insurance industry loss of between €800 million and €1.3 billion, according to Verisk’s extreme event solutions, with the majority of the losses expected in France.

AM Best TV: Verisk's Churney: Insurers Should Expect 5% Yearly Growth in Inflation, Exposures

Bill Churney, president, extreme event solutions, Verisk, said the insurance industry should anticipate the potential for $200 billion in insured losses due to inflation. Churney spoke with AM Best TV at the APCIA Annual Meeting 2023, held in Boston.

Insurance Journal: Industry Experts Discuss the Future of InsurTech

Carrier Management attended Insuretech Connect at Mandalay Bay in Las Vegas and caught up with Jacqueline Shaendorf, president and CEO at Insurance House, Andy Searle, vice president of business development at ACORD, Heather Wilson, CEO of Clara Analytics, and Shane Riedman, vice president and general manager of anti-fraud analytics at Verisk.

Reinsurance News: Citizens adopts Verisk’s Aerial Imagery Analytics

Verisk has announced that Citizens Property Insurance Corporation, a not-for-profit insurer in Florida, will adopt its Aerial Imagery Analytics solution to help “provide a more comprehensive view of risks across the state.”

NJBIZ: Study: Women making leadership progress, but more work is necessary

Public companies in New Jersey are doing a better job at ensuring women are more represented in the boardroom and in top leadership positions, but a new report found less progress when it comes to increasing racial and ethnic diversity.

Forbes: This Is How Extreme Weather And Inflation are Impacting Insurance, According To Verisk CEO

Lee Shavel, CEO of Verisk, joined Brittany Lewis on "Forbes Talks" to discuss risks businesses are currently facing.

Insurance Business: Revealed – the four key factors behind spiking nat-cat losses

It is over a decade since Verisk started producing its ‘Global Modeled Catastrophe Losses Report’, which, in 2023, projected a record high global modelled insured average annual loss from natural catastrophes of US$133 billion.

Reuters: Verisk tops third-quarter expectations on resilient demand from insurers

Verisk Analytics (VRSK.O) beat market expectations for third-quarter revenue and profit on Wednesday, as more insurance companies used its products to assess risk.

The Washington Post: Hurricane Otis produced 205 mph gust, among strongest ever measured

A weather station near Acapulco measured a 205 mph wind gust, one of the highest ever observed in the world, as Category 5 Otis made landfall last Wednesday as the strongest hurricane on record to strike the west coast of Mexico.

The Washington Post: Snow cover in the Lower 48 is at record levels as November starts

On Wednesday morning, snow was on the ground in 17.9 percent of the Lower 48, according to the National Oceanic and Atmospheric Administration.

The Wall Street Journal: Climate Risk Is Becoming Uninsurable. Better Forecasting Can Help.

A new generation of mathematical modelers might be able to help defuse a looming insurance crisis.

PropertyCasualty360: Who's using what in P&C insurance: October 30, 2023

Pearl Holding Group selected Verisk‘s data and analytics to help improve control and save money within its agent distribution channel.

Insurance Innovation Reporter: Survival of the Fastest–Strategy 1: Auto Quoting that Avoids the Hidden Costs of Lost Business

In this, the first article of a four-part series, see how multiple auto rate calls damage the customer experience—and how insurers can evolve beyond obsolete quote flows.

Insurance Journal: 3 Emerging Risks to Watch: Rising Lumber Costs, Solar Flares, Underground Climate Change

The risk landscape is seemingly ever-expanding. While the insurance industry faces the familiar — yet more costly — severe weather activity, there may be new risks emerging below the surface and above the atmosphere