Wildfires have moved rapidly to the fore as an exposure for insurers to understand and manage in states at high risk for this peril.
Despite mitigation measures, natural hazards may still cause damage, and insurers need actionable data to guide underwriting and pricing.
From estimating to calculating: Predictive modeling and machine learning remove the guesswork from evaluations.
Determining or verifying key risk characteristics of insured property or vehicles can be costly, labor-intensive, and time-consuming.
Total reconstruction costs, including materials and labor, increased 3.1% from April 2022 to 2023. Costs continue to slow down and steady.
Severe thunderstorms are a common natural phenomenon in the US, causing more than half of annual reported insured losses since 1985.
The truest test of an ITV solution is how it performs with actual losses, which can yield critical data to validate and calibrate RCEs.
Total reconstruction costs, including materials and labor, increased 6.8% from January 2022 to January 2023, a drop from the last quarter.
How each connection in the tangled web of vehicle cybersecurity could represent a potential vulnerability for bad actors to exploit.
Verisk data shows the cost to rebuild a property is still more than 11 percent higher, on average, than it was pre-pandemic.
Verisk’s Climate Change Projections help organizations investigate how loss metrics such as average annual losses (AALs) and return period may change in the future.
Total reconstruction costs, including materials and retail labor, increased by 9.3% from October 2021 to October 2022.
Taking into consideration the nuances of the property you’re insuring can help you take charge of multifaceted risk factors.
Here's how insurers can stay updated on Verisk coverage and actuarial product updates.
Verisk works with fire protection, scientific, and insurance community to provide technology to manage and mitigate wildfire risk.
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