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Evacuation Policies and Cat Strips: Wildfire Insurance and Reinsurance Ideas That Failed
Sometimes, it takes a few tries to develop the right insurance or reinsurance product—one that will align well with the needs and wants of customers. Kettle, a company that uses technology to ...
The Care and Feeding of Property-Catastrophe Models
A wise statistician once said: "All models are wrong, but some are useful." The key to getting useful (accurate) model results is working with models that fit specific underwriting needs and making ...
The Art and Science of Underwriting in an Era of Evolving Risk
Insurance underwriters are seemingly pulled in many directions today as risks quickly evolve, from extreme weather events to changes in the legal and regulatory landscape to general inflation trends. ...
California Wildfires Dwindle as Premiums Surge
In their 1999 paean to California, the Red Hot Chili Peppers sang that "Destruction leads to a very rough road, but it also breeds creation." The rock band was referring to earthquakes and tidal ...
5 Emerging Risks to Watch: ‘Evil Digital Twins,’ Climate Change, ‘Forever Chemicals’ in Tap Water
In this edition of Risk Alerts, Carrier Management highlights "evil digital twins," climate risks, "subsurface heat islands" and the presence of PFAS in U.S. tap water. Evil digital twins A digital ...
Emerging Risks: Could Obesity Lawsuits Become a Major Liability Event?
Public health problems often have the potential to lead to severe and systemic liability losses. This was the case in the massive asbestos and tobacco litigation events of the 20th century, as well ...
Understanding the Real Impact of Wildfire Smoke
During the week of June 5, the Northeast United States found itself coated in orange smoke and smog stemming from the ongoing wildfires in eastern Canada. It was an unusual experience for those ...
Are Winds of Change Blowing on California Insurance Law?
It would be wrong to assume that California regulators and lawmakers are only now starting to ponder what to do about a potential insurance crisis in the wildfire-prone state. A state of urgency has ...