The civil disturbance that started in Minneapolis after the killing by police of George Floyd spread to 20 other states, leading to an unprecedented property insurance catastrophe. The experience will likely impact policy renewals and could even persuade some insurers …
Property Claims Services (PCS), a Verisk subsidiary, has extended the catastrophe loss aggregation methodology, previously developed for use in Japan, to cover more territories in the region. Starting Jan. 1, 2020, PCS will report insured losses from catastrophe events in …
Property Claim Services (PCS), a Verisk business, has enhanced its PCS Global Cyber service with coverage for cyber catastrophe events. The inclusion of events with multiple insureds spanning both affirmative and silent cyber addresses industrywide insured losses of at least …
Beginning with Hurricane Harvey, the private sector Property Claim Services will publish aggregate flood loss information supplied by the federal government’s National Flood Insurance Program (NFIP). Historically, NFIP losses have been excluded from PCS’s industry insured loss estimates. With this …
Texas had the most catastrophe losses in the United States during the first half of 2015, according to a new report on North American cat losses during the first six months of the year. Seventeen second-quarter catastrophe events in North …
