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Three steps toward maturing cyber insurance risk management
New guidance from the New York Department of Financial Services guidance recommends several steps insurers can take to manage cyber risk more effectively.
Garaging errors: A significant cause of premium leakage
A Verisk analysis found more than 10 percent of auto policies had verifiable garaging address defects—and that adds up to $3 billion in annual premium leakage.
Auto insurance premium leakage: A $29B problem for the industry
This is the first article in a multi-part series based on the Innovation Paper from Verisk Insurance Solutions, The Challenge of Auto Insurance Premium Leakage
For insurers, risk management as important as retention efforts
Many auto insurance companies focus on retention to combat reductions in premium, but they shouldn't neglect risk management.
How do motor vehicle report fees affect insurers?
A Verisk analysis finds that motor vehicle report (MVR) fees have increased an average of almost 50 percent during the past ten years and discusses ways for insurers to…
California Workers' Compensation claims remain open longer than any other state: Breaking down WCIRB’s recent study and how it impacts claims payers
California has the most prolonged workers' compensation medical payouts of any state in the nation, according to a recent study from the Workers’ Compensation Insurance…
Underwriting practices and solutions evolve as MVR costs rise
A Verisk analysis finds that motor vehicle report (MVR) fees have increased an average of almost 50 percent during the past ten years and discusses ways to save.
Verisk to pilot Texas Driver Record Monitoring Service
Verisk’s iiX will pilot the Texas Driver Record Monitoring Service (DRMS) to enable insurers to monitor the driving records for adverse activity.
Validating coverage for undisclosed drivers stems premium leakage
Case study: Validating coverage for undisclosed drivers stems premium leakage
Louisiana House Bill 638 sets fine for insurance noncompliance
Louisiana House Bill 638 imposes maximum fine of $525 for failure to pay or resolve notice of noncompliance with state's compulsory insurance law.
Retention with profit: Best practices for auto underwriting
Enhanced underwriting practices required in response to emerging technology trends, tight competition, fraud risk.
GarageConfirm alerts auto insurers to potential garage fraud
Verisk GarageConfirm leverages more than 4 billion records in license plate database to help insurers identify and combat garaging fraud.
A-PLUS update responds to new California regulations
Modifications to the A-PLUS™ claims history database helps contributors comply with new California insurance regulations.
DMV prohibits sale of New York vehicle registration reports
The New York Department of Motor Vehicles has interpreted state law as prohibiting the sale of New York vehicle registration information to insurers.