In the past five years, the annual insured losses from natural catastrophes averaged $106 billion, up from $83 billion in the preceeding five-year period, new data from Verisk shows. And with a noticible uptick in extreme weather in recent times, …
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 consistent losses, premium growth is helping the overall …
Total reconstruction costs in the U.S. rose by 5.2% from July 2023 to July 2024. That’s a large increase from the cost growth from July 2022 to July 2023 (4.0%) and over the cost growth in the second quarter (1.6%), …
Total global insured losses from natural catastrophes of more than $100 billion a year may be less newsworthy than in the past. In fact, the industry should expect loss totals of at least $100 billion every year, according to models …
Verisk, Vexcel Partner to Collect Aerial Images After Ian Verisk said it is working with Vexcel Data Program and the Geospatial Insurance Consortium to assess property damage after Hurricane Ian. Verisk said in a press release that Vexcel and its …
Verisk Appoints Claims Solutions President Verisk announced that Maroun Mourad will succeed Rich Della Rocca as president, claims solutions on July 1. “We have a deep and talented bench of executives at Verisk, and Maroun was selected from a strong …
The powerful earthquake that jolted Japan’s northeast coast last week is expected to cause insured property losses between $2 billion and $4 billion, modeling firm Verisk said on Thursday. About $400 million to $820 million of the losses will stem …
Davies Acquires IRS London-based international claims administrator Davies has acquired Insurance Risk Services. IRS, based in Lake Mary, Fla., conducts underwriting inspections for residential and commercial properties. The company operates a network of more than 1,000 field inspectors, Davies said …
Insurity Completes Acquisition of Instec Insurity has completed the acquisition of Instec, a company based in Naperville, Ill. that provides analytics software to more than 300 property and casualty insurers. Insurity, based in Hartford, Conn. said that acquisition enables it …
Charles Taylor Acquires Syndicate Claim Services London-based Charles Taylor Adjusting, a provider of insurance services, claims solutions and technology platforms to the global insurance market, has acquired Syndicate Claim Services Inc., an independent adjusting and claims services business, based in …