Supply-chain issues, labor shortages, and high demand for building resources are complicating factors as homeowners insurers head into 2022.
The latest 360Value® Reconstruction Cost Analysis shows that lumber price volatility is slowing the overall pace of growth.
Property insurance underwriters relying on up-to-date cost data to cope with higher reconstruction estimates amid lumber's price volatility.
People spending more time at home seemed to ultimately help many insurers, as loss frequency declined in 2020 year over year across several categories.
The comic strip is part of our new Laugh Ratios series, highlighting Verisk’s 360Value solutions, which provide reliable replacement cost estimates.
Total reconstruction costs rose 16.7% in the second quarter of 2021, with lumber up 162.7%
A new, customer-focused purchase option gives ProMetrix users the power to order 360Value commercial property replacement cost estimates on demand.
Total U.S. reconstruction costs continued to rise in Q2 2021, according to Verisk, with lumber costs soaring a historic 84.71%.
Verisk’s 360Value® reconstruction cost estimating tool can help insurers maintain ITV for older homes that have more varied building materials and techniques.
Total reconstruction costs increased sharply again at the national level in the United States and Canada, according to the latest data from Verisk’s 360Value.
Applying an inflation-based index to reconstruction cost estimates (RCEs) can cause homeowners insurers to miss important property changes at policy renewal.
Total reconstruction costs surged at historic rates in the United States and Canada from October 2019 to October 2020 as lumber prices spiked.
Total reconstruction costs, including materials and retail labor, increased 4.8% at the national level in the United States from July 2019 to July 2020.
Property insurance prefill gets easier with 19 million more addresses added to SmartSource® in 360Value®, Verisk’s replacement cost estimate tool.
OneXperience for personal and commercial lines can transform property inspection workflows with valuation tools, property characteristics, and aerial imagery.
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