Karen Clark & Co. has released the latest version of its RiskInsight modeling platform. Allianz is expanding its travel insurance through a partnership with a motorcycle rental/tour operator. Hiscox launched a new flood product for U.S. homeowners.
Karen Clark & Co. has released RiskInsight Version 4.3, the latest update of its open loss modeling platform.
RiskInsight’s interactive loss dashboards now automatically display Exceedance Probability curves by peril and combined, historical event losses, as well as the Characteristic Event losses for all return periods.
The platform supports custom models for all peril types, including flood and severe convective storm (SCS). Users will be able to track tornadoes and SCS in real time, immediately assess how much exposure they have in the affected area, and estimate likely losses.
RiskInsight Version 4.3 also offers expanded event catalog creation capabilities and an updated job manager that makes it easier to set up complex analyses and distribute them across multiple processors.
Specialty travel insurer Allianz Global Assistance, part of Allianz Group, is teaming up with motorcycle rental and tour operator EagleRider.
The partnership will allow EagleRider clients to add Allianz’s Trip Protector insurance package to their booking of any travel products purchased from the company’s U.S. and German sites.
Hiscox London Market has launched a new flood product for U.S. homeowners, offering higher limits and a wider scope of coverage than policies provided by the National Flood Insurance Program.
FloodPlus uses a simpler definition of what constitutes a flood and provides broader cover for personal property, including outbuildings, as well as alternative accommodation while the property is being repaired.
The coverage is available for homeowners across the U.S. with dwelling values up to $1 million. FloodPlus can be bought as a standalone or alongside Hiscox’s existing homeowners insurance.
Sources: Karen Clark & Co., Hiscox, Allianz Global Assistance