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Hurricane Irene loss estimate raised to $4.3 billion
The latest estimates of catastrophic losses from August’s Hurricane Irene project total property damage at $4.3 billion, with the worst damage in New Jersey and North Carolina. Property Claims Services...
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Potential growth in cyber insurance linked to customer education
The biggest challenge in selling cyber insurance is educating businesses about the need for cyber coverage, according to a new survey conducted by Hanover Research and sponsored by ISO. ISO is a unit...
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P/C insurers’ net income rose in first-half 2014; increase in realized...
Private U.S. property/casualty insurers’ net income after taxes rose $1.6 billion to $26.0 billion in first-half 2014 from $24.4 billion in first-half 2013. Reflecting insurers’ net income after taxes,...
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Catastrophe claims staff compensation varies widely among P/C insurers
Property/casualty insurers vary widely in compensation for claims staff and managers who respond to catastrophes, according Verisk Analytics’ Property Claims Services (PCS). Major catastrophes...
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P/C insurer profitability grows in first nine months of 2015
Private U.S. property/casualty insurers’ net income after taxes grew to $44.0 billion in the first nine months of 2015 from $37.8 billion in nine-months 2014, with insurers’ overall profitability as...
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Premium growth slows, combined ratio rises in 2015
Private U.S. property and casualty insurers saw their net written premium growth slow to 3.4% in 2015 from 4.2% a year earlier, while their net income after taxes grew to $56.6 billion in 2015 from...
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Verisk launches new energy insurance unit
Verisk Insurance Solutions has launched a new energy insurance unit focused on transforming risk assessment, rating, and risk modeling for the oil and gas, petrochemicals, power generation, and metals...
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P/C insurers report $1.5 billion net underwriting loss in first-half 2016
Private U.S. property/casualty insurers reported a $1.5 billion net underwriting loss in the first half of 2016-the first year-to-date net underwriting loss in more than three years-and saw their net...
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ISO announces new miscellaneous professional liability program
Jersey City, N.J.-based ISO announced a new Miscellaneous Professional Liability Program to help insurers cover one of the fastest-growing sectors of the U.S. economy: professional services. ISO is a...
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Verisk to pay $320 million for U.K.-based insurance software firm Sequel
New Jersey-based Verisk Analytics, which analyzes data for the insurance and other industries, announced that it will acquire insurance and reinsurance software provider Sequel, based in London, for...
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