Key financial results for private U.S. property/casualty insurers significantly worsened in 2022 from a year earlier, according to preliminary results from global analytics provider Verisk and the American Property Casualty Insurance Association (APCIA). The industry recorded a net underwriting loss …
The economic and insured losses from the earthquakes that hit southern Turkey on Monday, Feb. 6 continue to escalate as damage information and data keeps pouring in. The catastrophe risk modeling firm Moody’s RMS estimated on Feb. 23 that economic …
Vehicle pricing was a major concern during the inflationary environment that dominated headlines in 2022, however a new report shows sales of electric vehicles in California rose by more than 50% last year from 2021 with an estimated increase in …
Economic losses for the Feb. 6, 2023 earthquakes in Turkey will likely exceed US$20 billion, while insured losses will likely be more than US$1 billion, according to Extreme Event Solutions at Verisk (formerly AIR Worldwide). These estimates are based on …
Verisk, the global data analytics provider, has entered into an agreement to acquire Mavera, a Sweden-based insurtech firm that operates a personal injury claims management platform. Financial details of the transaction were not disclosed. This addition of the Nordics personal …
Insured losses from Hurricane Ian to onshore property will be between $42 billion and $57 billion, with much of the damage – $38-51 billion – coming from wind damage, according to Verisk. “Damage was more severe in and around the …
The global insurance industry should be prepared for insured losses from natural catastrophes well in excess of $100 billion every year, according to the 2022 Global Modeled Catastrophe Losses Report from Verisk Extreme Event Solutions. In fact, the latest analysis, …
The Louisiana Insurance Guaranty Association (LIGA) announced it is is streamlining its handling of claims for policyholders of insolvent insurers with advanced property estimating technology from Verisk. LIGA is using Verisk’s Xactware® property claims-handling solutions, including Xactimate® and XactAnalysis®, to …
The Texas Department of Insurance, Division of Workers’ Compensation (DWC) adopted the Texas claim EDI release 3.1.4 standard on March 9, 2022. As a result, DWC’s designated data collection agent, Insurance Services Office, Inc., a wholly owned subsidiary of Verisk …
Verisk Names Elizabeth Mann Chief Financial Officer Elizabeth Mann has been named executive vice president and chief financial officer for Verisk, effective September 15, 2022. As CFO, Mann will lead Verisk’s global finance organization which includes accounting and controllership, financial …
