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.
“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?”
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.
Interest in better wildfire detection and suppression is growing in the wake of massive fires in California and Australia — costly disasters that are expected to become more common as climate change makes some areas drier and hotter.
For the past three years, we have been reacting to the macroeconomic environment as increased volatility and evolving risks provoke organizational concerns. Companies are looking for solutions that deliver sustainable predictability, and innovation, data & analytics may be the key.
The next two years may be rocky as high inflation lifts claims costs and threatens reserves, but there is promise for the U.S. P&C insurance industry to improve profitability, say Swiss Re’s chief economists for the Americas in their latest report.