The PCS Global Marine and Energy service investigates reported ocean marine and offshore energy insured loss events and determines the extent and type of damage, dates of occurrence, and loss location. PCS Global Marine and Energy assigns serial numbers that help you track the losses from each relevant event.
PCS Global Marine and Energy marks our first move beyond property catastrophe into insurance specialty lines loss aggregation. The PCS Global Marine and Energy service produces damage estimates that help insurers, reinsurers, and risk managers:
Engage alternative sources of capacity (such as the capital markets)
Set loss reserves
Verify internal company estimates
Manage risk and capital
PCS Global Marine and Energy estimates keep all participants in the global risk and capital supply chain informed about the total costs of ocean marine and offshore energy events. The historical database provides loss estimates for events from 2010 to the present, with PCS® designating a “marine and energy event” when the industry loss appears likely to exceed $250 million (or equivalent in non-U.S. currency).