Where increasingly severe weather meets growing populations, property damage from wind, hail and flood may seem inevitable. Fortunately, there’s much that property risk engineers can do.
The solar panels rapidly being deployed across the country are vulnerable to damage from hail and costly to replace, limiting their risk transfer options. Parametric insurance injects some much-needed flexibility.
With global insured losses from natural disasters hitting $108 billion in 2023, Swiss Re emphasizes the urgent need for adaptation measures and climate risk mitigation.
The 2024 FM Global Resilience Index, with six new risk factors, guides businesses in strategic decision-making on property and operations in the most resilient business environment.
Economic uncertainty, rising claim costs and an increase in weather-driven losses aren’t exactly the market trends that we’d have selected to take with us into the coming year, had we been given the option. However, it looks like these are the conditions that we will be stuck with for a while. As 2023 draws to… View Article
Many carriers are overcautious when it comes to mass timber construction, leaving insureds with a case of sticker shock. But as the sustainable building material’s popularity grows, some insurers are leading the way with better guidelines and more tailored coverage.
Capturing the necessary geospatial intelligence to make informed underwriting and claims management decisions is a practice insurance executives would do well to keep their eyes on.
“I can’t stop the tornado. I can’t stop the ignition of the wildfire or the hurricane that is coming. But we do know enough to narrow the path of destruction. And for us, it is about that science, but it has to be translated into specific actions that people can take.”
“How do we manage the losses in the property space — to minimize them, but also to better approach the underwriting and pricing and all the other dimensions that come in to bear as people understand the risks?”
The gap between how much it costs to rebuild and valuations is menacing commercial real estate. Here’s a look into how brokers and carriers help clients get it right.
As an industry designed to protect assets and prevent loss, insurance and risk management is in a prime position to defend against active shooter events.
With Nat CAT’s presenting fearsome exposures to property and casualty underwriters, the use of geospatial intelligence as a risk mitigation and underwriting aid is starting to make a lot more sense. In this webinar, learn how gaining a more granular view of loss exposures through the use of geospatial intelligence is not only feasible, but increasingly necessary.