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You are here: Home / Archives for Verisk

Verisk Estimates Industry Insured Losses for Hurricane Ian Will Range from $42-$57 Billion

October 3, 2022 By CollisionWeek Editor

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 […]

Filed Under: News Tagged With: Losses, Verisk

Verisk Launches First Notice of Loss Service

June 30, 2022 By CollisionWeek Editor

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 […]

Filed Under: News Tagged With: First Notice of Loss, FNOL, Verisk

Property and Casualty Insurers Experience Underwriting Loss in 2021

June 1, 2022 By CollisionWeek Editor

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 […]

Filed Under: News Tagged With: American Property Casualty Insurance Association, Earnings, Property Casualty Insurance, Verisk

Verisk and Ford Partner on Connected Car Data for Auto Insurance in Europe

March 8, 2022 By CollisionWeek Editor

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 […]

Filed Under: News Tagged With: Agreements Signed, Europe, Ford Motor Company, France, Germany, Italy, Spain, Telematics, United Kingdom, Usage-Based Insurance, Verisk

Property and Casualty Insurers See $5.6B Net Underwriting Loss in First Nine Months of 2021

February 15, 2022 By CollisionWeek Editor

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 […]

Filed Under: News Tagged With: American Property Casualty Insurance Association, Profitability, Property Casualty Insurance, Verisk

U.S. Property and Casualty Insurers Report Net Income Rose to $37.5 Billion

November 15, 2021 By CollisionWeek Editor

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 […]

Filed Under: News Tagged With: American Property Casualty Insurance Association, Earnings, Property Casualty Insurance, Verisk

Property & Casualty Insurers’ Q1 Net Income Grows as Profitability Ratios Worsen

July 26, 2021 By CollisionWeek Editor

Q1 2021 P/C Profitability

U.S. industry notches strong first quarter, but catastrophes hamper underwriting performance, according to Verisk and APCIA Private property/casualty insurers in the United States saw their net income after taxes increase in the first quarter of 2021 from a year earlier, while their combined ratio – a key measure of underwriting profitability – worsened, according to […]

Filed Under: News Tagged With: American Property Casualty Insurance Association, Profitability, Property Casualty Insurance, Verisk

Property & Casualty Insurers Report 27.5% Drop in Net Income During First Nine Months of 2020

February 9, 2021 By CollisionWeek Editor

PCI Q3 2020 Insurance Profitability

Pandemic and record number of catastrophes in the United States impact insurance industry. In the first nine months of 2020, the private U.S. property and casualty (P&C) insurance industry dealt with the effects of the COVID-19 pandemic as well an historic catastrophe season, according to a report from Verisk (NASDAQ:VRSK), a leading global data analytics […]

Filed Under: News Tagged With: American Property Casualty Insurance Association, Profitability, Property Casualty Insurance, Verisk

P/C Insurers Report a 26% Drop in Net Income in First-Half 2020

October 28, 2020 By CollisionWeek Editor

Q2 Net Income

Industry results show effects of COVID-19 according to Verisk and the APCIA. Net income for the private U.S. property/casualty insurance industry dropped 26% in the first half of 2020, as the effects of COVID-19 began to hurt insurer underwriting results and investment gains, according to Verisk (NASDAQ:VRSK), a leading data analytics provider, and the American […]

Filed Under: News Tagged With: American Property Casualty Insurance Association, Earnings, Property Casualty Insurance, Verisk

Ford Partners with Verisk to Offer Telematics Data to Insurers

October 13, 2020 By CollisionWeek Editor

Vehicle manufacturer joins the Verisk Data Exchange to enable insurers to deliver usage-based insurance benefits. Verisk (NASDAQ:VRSK), a leading data analytics provider, today announced that Ford Motor Company (NYSE:F) has joined the Verisk Data Exchange. Owners of eligible Ford and Lincoln vehicles will soon have easy access to usage-based insurance programs from the many U.S. […]

Filed Under: News Tagged With: Agreements Signed, Ford Motor Company, Usage-Based Insurance, Verisk

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