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 ...
Features
The Long Tail: Aftermath of Disaster
While I was doing research for this edition, I came across these paragraphs, written by one of the leaders of a technology company, recalling a previous role he had ...
Loss Trends for Severe Convective Storms
Loss trends for severe convective storms (SCS) have increased over the past 15 years and even more during the past five years, according to Dan Dick, global head of ...
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 ...
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 ...
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 ...
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 ...
Social Media Investigations: A Winning Strategy for Insurers
GARDEN GROVE, California—If you're a plaintiff in an injury lawsuit against your insurer, you might want to ask your wife not to post videos online of you frolicking in a swimming pool. An ...
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 ...
Insurers Have Their Say
California's growing availability crisis is poised to get worse unless changes to ratemaking beyond the introduction of forward-looking catastrophe modeling take ...