Wildfires continue to threaten communities, ecosystems, and economies worldwide. With the increased risk and frequency of catastrophic weather events, the continuous need to reassess and update models has challenged insurance professionals.
WINT’s innovative AI technology is transforming water leak detection and prevention, significantly reducing related insurance claims in commercial and residential properties.
The property/casualty insurance sector anticipates a challenging 2023, marked by unprofitability and rising replacement costs, despite strong premium growth.
Given the concerning rise in catastrophic events, what technology solutions have been most effective in helping the industry better predict, evaluate, and/or respond to catastrophes, and how do you use them?
Cruise is recalling 950 driverless cars from the roads across the United States following a crash involving one of its robotaxis and will likely issue more recalls.
The North American Electric Reliability Corp (NERC) has issued a warning that over two-thirds of the U.S., collectively housing about 180 million people, are at risk.
Some developers are building homes with an eye toward making them more resilient to the extreme weather that`s increasing with climate change, and friendlier to the environment at the same time.
It is over a decade since Verisk started producing its ‘Global Modeled Catastrophe Losses Report’, which, in 2023, projected a record high global modelled insured average annual loss from natural catastrophes.
Severe convective storm losses—the highest in decades—significantly affected the 2023 net combined ratio for the property/casualty industry, according to the latest underwriting projections by Triple-I and Milliman actuaries.
Reinsurance broker Gallagher Re has said that hurricane Otis will be one of the costliest natural catastrophe events in Mexico’s history, with a multi-billion-dollar insurance market loss anticipated.
The National Weather Service called it ‘super fog’ — a combination of thick smoke from fires in marshy wetlands of south Louisiana and the fog that often hangs thick in the air on cool, windless mornings.
