Convective Storm Modeling: The Difference is in the Details
You’re likely already familiar with catastrophe (CAT) modeling, a method of determining risk exposure in hurricane- or earthquake-prone regions. But look out your window right now. Do you spy dark gray rainclouds on the horizon? If so, you might just be looking at a convective storm, and this common weather pattern is changing the face […]
The Value of COPE Data Collection: A Differentiated Risk Profile Could Mean Lower Rates
In 2024, the U.S. faced 11 separate billion-dollar weather and climate events, including nine severe storms and two winter storms. With each catastrophe and claim, the pressure on the insurance industry grows—and, unfortunately, so do insurance rates. The good news is: by taking control of your property data, you can better control your risk profile […]
Property Risk Management for Winter Storm Damage
When winter weather ravages regions unaccustomed to the icy attentions of Jack Frost (like one perilous February in Texas) the effects can be devastating and linger well-after the winter fury itself has passed. We’re talking about winter weather-related property damage, and the National Oceanic and Environmental Administration (NOAA) indicates that between 1980 and 2020, winter […]
Catastrophe Modeling (CAT Modeling): A Benchmark for Determining Risk
Increasingly, complex software programs for catastrophe (CAT) modeling are serving as a benchmark for insurers to determine risk across various geographical areas of the United States. While not all property and casualty insurers initially rushed to adopt this approach, dramatic rises in loss estimates and other challenges led to catastrophe modeling’s rapid, widespread adoption. As […]