Your book of business may be over- or underinsured if you're underwriting based on estimates that aren't:
Replacement costs vary geographically and fluctuate widely over time. 360Value provides dependable, claims-driven, component-based estimates that account for virtually all material and labor required to rebuild. Verisk professionals continually research and validate construction cost data at the local level. These ongoing reviews and analyses ensure that 360Value offers consistently accurate and current replacement cost data.
360Value helps ensure that your building limits are aligned with expected property losses because it uses the same reconstruction cost data as the nation’s number one estimating solution—Xactimate®, a Verisk product.
360Value prefills property-specific information for more than 12.2 million commercial properties across the United States. When available, prefill speeds up underwriting and quoting by letting users verify property information with customers, rather than having to collect it from scratch.
Reconstruction costs can change over time, and at different rates by geography, down to a very localized level. Each quarter, Verisk’s reconstruction cost data reports provide reconstruction cost trends at the national and state/province levels for the United States and Canada.
Total reconstruction costs rose 16.7% in the second quarter of 2021, with lumber up 162.7%Read the article
Reliable data is an indispensable resource for actuaries, whether they are novices or seasoned practitioners.Read the article
A new, customer-focused purchase option gives ProMetrix users the power to order 360Value commercial property replacement cost estimates on demand.Read the article
Verisk's Roof Underwriting Report helps provide critical information about roof risk using aerial imagery, artificial intelligence and machine learning.