Homeowners in South Dakota’s largest city might soon get a break on their insurance bills. The Insurance Services Office that scores about 48,000 fire departments nationwide is upgrading Sioux Falls’ public protection grade to the second-best mark that a fire …
ISO’s new coverage and exclusion options for commercial drones took effect this month in most ISO jurisdictions. The options were designed to provide insurers with tools to help develop insurance programs for businesses that may use drones. The new options, …
The first nine months of 2014 saw policyholders’ surplus for the U.S. property/casualty insurance industry reach record levels. At the same time, net income after taxes declined substantially and overall profitability took a noticeable dip. As well the annualized rate …
The biggest challenge in selling cyber insurance is educating businesses about the need for cyber coverage, according to a new survey. The survey of insurance professionals found that among carriers offering cyber insurance, 40 percent say businesses don’t think they …
As data breaches become more prevalent in the workplace, ISO, a member of the Verisk Insurance Solutions group at Verisk Analytics in Jersey City, N.J., has been taking steps to constrain commercial general liability policies based on ISO forms from …
Private U.S. property/casualty insurers’ net income after taxes fell to $13.8 billion in first-quarter 2014 from $14.3 billion in first-quarter 2013. Insurers’ pretax operating income – the sum of net gains or losses on underwriting, net investment income, and miscellaneous …
U.S. property/casualty insurers’ net income after taxes grew to $63.8 billion in 2013 from $35.1 billion in 2012, with insurers’ overall profitability as measured by their rate of return on average policyholders’ surplus climbing to 10.3 percent from 6.1 percent. …
A survey of North American insurance professionals reveals widespread use of predictive analytics in the property/casualty insurance industry, with as many as 82 percent responding that they use predictive modeling in one or more lines. Earnix, a provider of pricing …
ISO has filings underway for its new standardized motorcycle program. The program consists of forms, rules, and loss costs tailored to fit the specific requirements for insuring a motorcycle. The base policy provides liability, medical payments, uninsured motorists, and physical …
Cosmetic damage from wind and hail to homeowner and commercial properties may no longer be covered if insurers opt to use new endorsements, one for homeowners and another for commercial roofs, that are becoming available. The two organizations that standardize …
