Joel Teemant
Smarter and faster: Prefill data to help accelerate workflows
Current and curated data about a structure’s age, square footage, and use are the backbone of reliable reconstruction cost estimates (RCEs).
Quarterly reconstruction cost increases continue to steady
Total reconstruction costs increased 4.3% from July 2022 to July 2023. This uptick follows the 3.1% increase from April 2022 to April 2023.
What happens after catastrophes? Protection in a time of loss
Despite mitigation measures, natural hazards may still cause damage, and insurers need actionable data to guide underwriting and pricing.
Reconstruction cost dips signal increased market stabilization
Total reconstruction costs, including materials and labor, increased 3.1% from April 2022 to 2023. Costs continue to slow down and steady.
The claims connection: A key consideration for ITV alignment
The truest test of an ITV solution is how it performs with actual losses, which can yield critical data to validate and calibrate RCEs.
As increases slow, reconstruction costs show signs of stabilizing
Total reconstruction costs, including materials and labor, increased 6.8% from January 2022 to January 2023, a drop from the last quarter.
Keeping pulse: Tracking the latest price surges to maintain ITV
Verisk data shows the cost to rebuild a property is still more than 11 percent higher, on average, than it was pre-pandemic.
Hurricane Ian and other pressures drive uptick in reconstruction costs
Total reconstruction costs, including materials and retail labor, increased by 9.3% from October 2021 to October 2022.
Stay ahead of volatile replacement costs to support insurance-to-value
Enhance ITV at bind and renewal with 360Value for Commercial Property, which includes monthly price updates based on localized claims.
Reconstruction cost rise slows—but from historic peaks
Verisk's 360Value Quarterly Reconstruction Cost Analysis shows materials and labor prices rose 3 percent from July 2021 to July 2022.
Integration without disruption: Simpler reconstruction cost estimates
Property insurers can move to simplify quoting workflows in a digital-first strategy with fast, reliable reconstruction cost estimates.
Inflation lifts reconstruction costs as fuel prices boost volatility
Verisk's 360Value® Quarterly Reconstruction Cost Analysis shows materials and labor prices rose 13.5 percent from April 2021 to April 2022
Three strategies for reliable commercial property valuations
Enhance ITV with 360Value for Commercial Property, which includes monthly price updates and an a pioneering method for estimating contents.
Reconstruction prices rise moderately amid demand for materials, labor
Total U.S. reconstruction costs, including materials and retail labor, rose 7.2 percent in the year-over-year period ending January 2022.
Reconstruction costs rise slowly as lumber shows increasing volatility
The latest 360Value® Reconstruction Cost Analysis shows that lumber price volatility is slowing the overall pace of growth.