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Property Casualty Insurers' Overall Financial Results Through Nine Months Improved as Investment Gains Offset Losses on Underwriting
December 21, 2010
Twelve Capital Leverages AIRs Catastrophe Modeling Systems for Its Insurance Linked Securities
December 6, 2010
AIR Worldwide Delivers Innovative Approach to Data Quality Scoring in Latest Release of TruExposure Data Solutions
December 1, 2010
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Feature Story
Preparing for the Unexpected: Reliable claims and cost data help insurers adapt to changing economic climate
By Mike Fulton, Assistant Vice President, Xactware
In many ways, 2010 didn’t turn out quite the way experts predicted — or hoped. Growth in the economy didn’t occur at the expected rate, and the housing market continued to falter. While construction costs in most areas of the United States declined, many homeowners are still coming to terms with the fact that the cost to rebuild a home may be higher than its market value. »Full story
 Probable Maximum Loss Considerations in Commercial Fire Insurance Underwriting: An ISO Perspective
Fire is generally considered the most critical hazard in the underwriting process, whether covered separately or as part of a package. In comparing the potential loss among buildings and in evaluating a single building, underwriters consider the Probable Maximum Loss (PML). The most common definition of PML — and the definition ISO adopts for commercial fire purposes — is an estimate of the largest loss a building or a business in the building is likely to suffer because of a single fire, assuming proper functioning of the existing mitigation features (sprinklers, local fire department response, etc.).
 Is the Economy Threatening Building-Code Effectiveness?
There's been a decade of steady progress toward implementing a single national model building code in all communities across the country. Even though the pace of new construction has slowed significantly, economic issues still threaten code-adoption and enforcement progress in many areas of the country. Community resources have become overextended, forcing difficult decisions by local officials.
 Leveraging GIS Analytics for Improved Catastrophe Risk Management
In today's data-driven environment, leading insurance companies are making the capture and use of address-level location information a top priority. Once a location is established, the next step is capturing as much information as possible about that property. Location information is essential for assessing catastrophe risk and for effective catastrophe modeling.
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