Total reconstruction costs, including materials and labor, increased 6.8% from January 2022 to January 2023, a drop from the last quarter.
Verisk data shows the cost to rebuild a property is still more than 11 percent higher, on average, than it was pre-pandemic.
Total reconstruction costs, including materials and retail labor, increased by 9.3% from October 2021 to October 2022.
Enhance ITV at bind and renewal with 360Value for Commercial Property, which includes monthly price updates based on localized claims.
Verisk's 360Value Quarterly Reconstruction Cost Analysis shows materials and labor prices rose 3 percent from July 2021 to July 2022.
Knowing when a property has been updated is critical, as these changes can add new liability risks and insurance-to-value considerations.
Property insurers can move to simplify quoting workflows in a digital-first strategy with fast, reliable reconstruction cost estimates.
With automation and analytics advancing at a rapid pace, many insurers are looking to transform the experience of buying commercial coverage, from time-consuming and…
With renovations increasing rapidly, the pressure to monitor property changes has increased to promote premium and ITV alignment.
Verisk's 360Value® Quarterly Reconstruction Cost Analysis shows materials and labor prices rose 13.5 percent from April 2021 to April 2022
SmartSource in 360Value gives personal property insurers the current and comprehensive data they need to underwrite with confidence.
Enhance ITV with 360Value for Commercial Property, which includes monthly price updates and an a pioneering method for estimating contents.
Automated underwriting can help homeowners insurers be thorough, consistent, and fast with timely, actionable data and analytics.
Total U.S. reconstruction costs, including materials and retail labor, rose 7.2 percent in the year-over-year period ending January 2022.
Supply-chain issues, labor shortages, and high demand for building resources are complicating factors as homeowners insurers head into 2022.
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