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| | | | | | | Confirming Radius Class | | | | More than 95% of commercial vehicles are classified as local radius. How do commercial auto insurers confirm this? Learn how RadiusCheck® can help. | | | | | | | | Verisk | | |
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| Today's Headlines | March 7, 2022 |
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U.S. property/casualty insurers have benefited from significant increases in commercial premium rates for nearly three years. However, recent industry statutory underwriting performance improvement was dampened by several factors, including persistently high natural catastrophe losses and claims related to the COVID-19 pandemic, limiting the market to slightly better than break even underwriting gains. While 2022 underwriting... read more | | |
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| | | Advertisement | | |  | | | | A Historic Shift is Underway | | | What used to be minor specialty lines (cyber, cannabis, flood) are re-emerging as major coverages.
Insurers face unprecidented tech challenges. Fortunately, modern solutions are available. | | | | | | | | ClarionDoor |
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The Russian invasion of Ukraine has increased the risk of cyber attacks and potential claim costs for property/casualty insurers globally that offer cyber coverage, the majority of which is underwritten in North America. Such attacks may also further test the effectiveness of "war exclusion" and "hostile act exclusion" language, which has come under greater scrutiny... read more | | |
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The internet of things (IoT) has become a ubiquitous presence in our everyday lives. From the cars we drive to the places we live and the appliances and technologies we use, IoT helps consumers with added comfort and convenience. It also helps insurance companies because ... read more | | |
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Researchers have used artificial intelligence to predict where flood damage is likely to happen in the continental United States. The findings suggest that recent flood maps from the Federal Emergency Management Agency do not capture the full extent of flood risk. In the study, researchers found a high probability of flood damage—including monetary damage, human... read more | | |
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As insurers like Progressive try to catch up with auto insurance loss severity trends with rate hikes, delays in getting filing approvals in some states may prompt other actions until rate adequacy catches up with claims trends. Among them is the ability slow down advertising, according to Tricia Griffith, chief executive officer of Progressive, who... read more | | |
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SPONSORED BY: Korem Over-pricing policies could trigger the loss of high-quality, lower risk customers, while underpricing may cause high-risk and low margin customers to be retained. More accurately and efficiently identifying policyholders is critical to maintaining a healthy and balanced book of business. This free webinar on Geospatial Technology explains how to integrate geoprocessing solutions into... read more | 
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Commercial insurance platform Semsee announced it has raised a Series B funding round led by Dick Costolo and Adam Bain's 01 Advisors, with participation from existing investor the D. E. Shaw group, through its venture studio DESCOvery. The funding round will accelerate Semsee's expansion into new markets and fuel the addition of new technology features... read more | | |
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With this week's U.N. climate science report laying bare the staggering economic costs and losses already faced from climate change, an inevitable question arises: Who should pay? Within U.N. climate negotiations, "loss and damage" refers to the costs countries are incurring from climate-related impacts and disasters—costs that disproportionately hit the world's poor and vulnerable who... read more | | |
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OxyContin maker Purdue Pharma reached a settlement Thursday over its role in the nation's deadly opioid crisis that includes virtually all U.S. states and thousands of local governments, with the Sackler family members who own the company boosting their cash contribution to as much as $6 billion. The deal follows an earlier settlement that had... read more | | |
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| | In just the last decade, we are seeing a historic shift in the insurance ... read more | |
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| | Today, there are four major forces that are putting pressure on the property ... read more | |
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| | Over-pricing policies could trigger the loss of high-quality, lower risk ... read more | |
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| | Recent studies indicate that consumers are willing to switch insurance ... read more | |
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| | This must-read white paper illuminates the role technology plays in solving two ... read more | |
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