A new report shows a large year-over-year increase in cargo theft incidents and evolving organized crime tactics. A CargoNet analysis of cargo theft trends for the third quarter of 2024 shows 776 cargo theft events across the U.S. and Canada …
Insured industry losses to onshore property for Hurricane Milton will fall between $30 billion and $50 billion, according to an estimate out on Wednesday from Verisk. Moody’s RMS Event Response said earlier this week that total U.S. private market insured …
Another important modeler has rung in with insured loss estimates from the damages wrought by Hurricane Helene. Verisk estimates industry insured losses in U.S. for Hurricane Helene will range between $6 billion to $11 billion. Verisk’s estimates comes a day …
In the past five years, the annual insured losses from natural catastrophes averaged $106 billion, up from $83 billion in the preceeding five-year period, new data from Verisk shows. And with a noticible uptick in extreme weather in recent times, …
The U.S. property/casualty insurance industry recorded a net underwriting gain of $3.7 billion and net income of $94.6 billion for the first-half of 2024, according to a new report. “After years of consistent losses, premium growth is helping the overall …
Total reconstruction costs in the U.S. rose by 5.2% from July 2023 to July 2024. That’s a large increase from the cost growth from July 2022 to July 2023 (4.0%) and over the cost growth in the second quarter (1.6%), …
Total global insured losses from natural catastrophes of more than $100 billion a year may be less newsworthy than in the past. In fact, the industry should expect loss totals of at least $100 billion every year, according to models …
Verisk, Vexcel Partner to Collect Aerial Images After Ian Verisk said it is working with Vexcel Data Program and the Geospatial Insurance Consortium to assess property damage after Hurricane Ian. Verisk said in a press release that Vexcel and its …
Verisk Appoints Claims Solutions President Verisk announced that Maroun Mourad will succeed Rich Della Rocca as president, claims solutions on July 1. “We have a deep and talented bench of executives at Verisk, and Maroun was selected from a strong …
The powerful earthquake that jolted Japan’s northeast coast last week is expected to cause insured property losses between $2 billion and $4 billion, modeling firm Verisk said on Thursday. About $400 million to $820 million of the losses will stem …