Verisk & APCIA estimate shows the industry facing continued challenges from natural catastrophe events, inflation. Verisk (NASDAQ: VRSK), the global data analytics and technology provider, and The American Property Casualty Insurance Association (APCIA), a national trade association for home, auto, and business insurers, today remarked on full-year 2023 losses for the insurance industry, which they […]
Survey Shows Younger Generations More Tolerant of Insurance Fraud
A significant number of Americans aged 45 and younger show a high level of tolerance for insurance fraud – even feeling envious of those who commit it – according to a new survey of insurance consumers by Verisk (NASDAQ:VRSK) and the Coalition Against Insurance Fraud. The study analyzes how American consumers view insurance fraud and […]
CCC and Verisk Form Strategic Partnership
Initial collaboration will work to prevent auto insurance fraud. CCC Intelligent Solutions Inc. (NASDAQ:CCCS) and Verisk Analytics, Inc. (NASDAQ:VRSK) announced today a strategic partnership that will leverage the two providers’ technologies to bring new innovations to P&C insurance claims. CCC provides a cloud platform for the P&C insurance economy and Verisk is a global data […]
Property/Casualty Insurance Underwriting Losses Soar, Net Income Shrunk in 2022
The $26.9 billion underwriting loss is the largest since 2011. Key financial results for private U.S. property/casualty insurers significantly worsened in 2022 from a year earlier, according to preliminary results from Verisk (NASDAQ: VRSK), a leading global data analytics provider, and the American Property Casualty Insurance Association (APCIA). The industry experienced a $26.9 billion net […]
Verisk Estimates Industry Insured Losses for Hurricane Ian Will Range from $42-$57 Billion
If National Flood Insurance Program included, losses could exceed $60 billion. Verisk (NASDAQ:VRSK) estimates that insured losses to onshore property for Hurricane Ian will range from USD 42 billion to USD 57 billion. The industry loss estimate from Verisk Extreme Event Solutions includes estimated wind, storm surge, and inland flood losses resulting from Ian’s landfalls […]
Verisk Launches First Notice of Loss Service
Property/casualty insurers using Verisk’s (NASDAQ:VRSK) ClaimSearch solution can now append certain missing information with insurer-contributed first notice of loss (FNOL) data to help process claims faster and more efficiently. As part of the existing ClaimSearch service, the new FNOL initiative will leverage Verisk claims data to augment carriers’ own FNOL contributed information. The latest efficiency […]
Property and Casualty Insurers Experience Underwriting Loss in 2021
Auto physical damage written premiums were up 6.5% but direct losses grew 25.1% over pandemic influenced 2020. Despite experiencing an underwriting loss, the property/casualty insurance industry ended 2021 strong and able to support policyholders, according to a report from Verisk (NASDAQ:VRSK), the global data analytics provider, and the American Property Casualty Insurance Association (APCIA). In […]
Verisk and Ford Partner on Connected Car Data for Auto Insurance in Europe
The agreement gives Verisk license to supply connected car data to insurers in the UK, France, Germany, Italy and Spain. Verisk (NASDAQ:VRSK), a global data analytics provider, announced an agreement with Ford Motor Company (NYSE:F). As part of the agreement, Verisk can offer standardized, insurance-ready telematics data from connected Ford vehicles in Europe to assist […]
Property and Casualty Insurers See $5.6B Net Underwriting Loss in First Nine Months of 2021
Underwriting loss driven by increase in non-catastrophe losses from several lines, including personal auto. Private U.S. property/casualty insurers saw a $5.6 billion net underwriting loss in the first nine months of 2021, as non-catastrophe losses returned to pre-pandemic levels, according to a report by Verisk (NASDAQ:VRSK), the global data analytics provider, and the American Property […]
U.S. Property and Casualty Insurers Report Net Income Rose to $37.5 Billion
Insurers report improved income as resumption in economic activity drives growth in premiums and losses, according to Verisk and APCIA. Private property/casualty insurers in the United States posted strong net income growth in the first half of 2021 as the country continued to recover from the economic disruption caused by the COVID-19 pandemic, according to […]