Verisk Estimates Up to $11B in Insured Losses From Hurricane Helene
The Extreme Event Solutions group at Verisk estimates insured losses due to wind, storm surge and flood in the U.S. for Hurricane Helene will range between $6 billion to ...
Verisk News
AccuWeather Raises Helene Total Damage Estimates by $50B; Insured Loss Estimates Not Ready
While inland flooding complicates the picture of still-to-be-determined insured loss estimates from Hurricane Helene, a weather forecasting firm has already delivered a second estimate of total ...
Stay Ahead of Digital Media Fraudsters with Smarter Claims Tools
Over the past few decades, the insurance industry has focused on the digital transformation of its operations to keep pace with rapid technological developments. Technology innovation has had a ...
Reconstruction Costs Continue to Rise, Verisk Report Shows
Between July 2023 and July 2024, total reconstruction costs in the United States, including materials and retail labor, increased by 5.2 percent, according to a recent report by Verisk. This is a ...
U.S. P/C Insurance Industry Posts First H1 Underwriting Profit Since 2021
The U.S. property/casualty insurance industry recorded a net underwriting gain of $3.7 billion and net income of $94.6 billion for the first-half of 2024, according to a new report. "After years of ...
Verisk’s PCS Classifies CrowdStrike Incident as a Cyber Catastrophe
Verisk's Property Claim Services unit confirmed reports it has designated the recent global information technology outage as a cyber catastrophe event. With the designation, PCS Global Cyber believes ...
Analysis: U.S. P/C Industry’s $21.1B Underwriting Losses for 2023
The U.S. property/casualty market sustained an estimated $21.1 billion in underwriting losses in 2023, highlighting the challenges the industry faces as a result of natural catastrophes and ...
Lemonade Exec: AI Getting the Right Claims to the Right Adjuster
AI Jim, the chatbot that handles claims for InsurTech Lemonade, is renowned for its ability to handle claims in seconds. Two seconds to be exact. That was the time it took the chatbot to settle a ...
How AI Can Reshape Claims Management
How can artificial intelligence change property and casualty insurance claim processing? Two industry experts answered that question from a few angles during Carrier Management's annual InsurTech ...