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 2022, the US government declared a record breaking number of disasters. From hurricanes to floods, and earthquakes to wildfires, catastrophes causing damage in excess of $1 billion swept the nation. Unfortunately, with a rising number of catastrophes and claims often comes rising insurance rates. With decades of experience in the property insurance appraisal industry, […]
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
More and more, throughout the United States, complex software programs for catastrophe (CAT) modeling are serving as a benchmark for determining risk in various geographical areas. While not all property and casualty insurers rushed to adopt this approach, dramatic rises in certain estimates of loss coupled with other challenges has led their sentiment to change. […]