Verisk Analytics business Property Claim Services is launching a global cyber industry loss index. A Division of Berkshire Hathaway Specialty Insurance will pair with another company to offer travel protection plans.
A Berkshire Hathaway Specialty Insurance Company will pair with Travelex Insurance Services to provide travel protection plans.
The strategic relationship between Travelex and Berkshire Hathaway Travel Protection will offer the plans under the Travelex banner. Berkshire Hathaway Travel Protection will handle underwriting and claims services.
The products will combine financial strength, product underwriting, and claims handling of Berkshire Hathaway Travel Protection with the extensive sales and marketing expertise and vast, long-standing travel provider network of Travelex.
Their goal: to bring high levels of service, product innovation and claims handling expertise and expediency to travel professionals and their clients.
Verisk Analytics business Property Claim Services is launching a new global cyber industry loss index.
PCS Global Cyber is a loss aggregation service that provides industry loss estimates for individual affirmative global cyber events with insured losses of at least $20 million industrywide.
PCS said it developed the product with Capsicum Re, and that it reflects a big insurance and reinsurance market demand for an independent third-party view of cyber industry loss estimates. PCS Global Cyber helps insurers, reinsurers and other stakeholders in the global risk and capital supply chain get access to an unbiased view of the industry loss for large non elemental events globally.
As well, the loss index can help facilitate reinsurance and alternative risk-transfer actions.
Source: Berkshire Hathaway Specialty Insurance/ Travelex Insurance Services, Verisk Analytics/Property Claim Services