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 ...
Members Only Content
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 ...
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 ...
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 ...
Safer From Wildfires
Commissioner Lara's new regulation, California Code of Regulations Section 2644.9. Consideration of Mitigation Factors; Wildfire Risk Models, effective Oct. 14, 2022, ...
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 ...
Reducing Claims Overpayment Is Vital for Carrier Survival
Failure to catch overinflated claims is costing the insurance industry tens of billions of dollars each year. Paying too much or too little on a claim isn't beneficial to ...
Love Thy Frenemies: 3 Reasons an Interconnected Claims Network Benefits the Industry
Coming off the worst underwriting performance in over a decade, the U.S. P/C insurance industry continues to face significant headwinds that threaten profitability and ...
