Verisk News

Commercial Auto Insurers Catching Up with Telematics

Though adopted early by personal lines insurers, telematics technology is just coming into its own in the commercial auto space. According to Zach Schmiesing, director, Commercial Lines, IoT/Telematics at Verisk Analytics, commercial insurers are examining the differences in commercial driving …

Study Links Severe Winter Weather in Northeastern U.S. to Arctic Temps

The frequency of extreme winter weather in the U.S. is sensitive to Arctic temperatures, and that’s something those paying weather-related losses may want to take note of. After all, you can’t spell polar vortex without the “polar.” The study (Warm …

Commercial Cyber Liability Market to Reach $6.2B in Written Premium by 2020: Verisk

The total commercial cyber liability market will reach $6.2 billion in written premium by 2020 after annual growth rates of 20-30 percent, Verisk predicts in a market analysis. “Cyber liability risk is rapidly permeating every business that has any dependence …

Catastrophe Bond Issuance Tops New Record of $10.5B in 2017: Verisk Report

Catastrophe bond issuance surpassed $10.5 billion in 2017 – a new record, according to the latest report from the Property Claims Services Unit of Verisk Insurance Solutions. Results from 2017 are significantly higher than the last record – 2014’s $7.8 …

Verisk Analytics Acquires Risk Intelligence Ireland, Expanding Global Footprint

Verisk Analytics Inc. announced the acquisition of Risk Intelligence Ireland, a leading provider of fraud detection, compliance, risk control, and process automation services to the Irish insurance industry. “Risk Intelligence Ireland has developed valuable tools to help insurers control costs …

Wildfire Report Shows 2 Million California Homes at Risk as Drought Continues

A report issued today shows California has more than 2 million homes at “high” or “extreme” wildfire risk, as the multi-year drought continues stoke fears among some experts of a potentially devastating wildfire season. Verisk Insurance Solutions released its 2015 …

P/C Insurers’ Surplus Rose, Profitability Fell in 2014’s First 9 Months

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 …

Antitrust Concerns End Verisk Bid for Rival EagleView Technology

Verisk Analytics Inc. scrapped a planned $650 million takeover of EagleView Technology Corp. after antitrust regulators said the deal would give the company too large a share in the market for aerial images used by insurers. The data provider instead …

Verisk Buying EagleView Technology for $650M to Add Images of U.S. Structures

Verisk Analytics Inc., the supplier of data to insurers and banks, agreed to buy EagleView Technology Corp. for $650 million in cash, adding an image library that encompasses about 90 percent of U.S. structures. The deal will allow Verisk to …

Verisk Climate, HSB Launch Service to Assess Electrical Blackout Risk

Verisk Climate and The Hartford Steam Boiler Inspection and Insurance Co. (HSB) have introduced new technology and consulting services that help insurers and businesses predict the likelihood, severity, and financial exposure of U.S. electrical blackouts, which cause more than $100 …