Storm activity during the 2019 hurricane season is forecasted to produce between two and four major hurricanes with winds higher than 111 mph, according to the National Oceanic and Atmospheric Administration (NOAA). The NOAA defines this level of hurricane activity as normal for the season. However, recent trends in weather activity and the impacts of …
Read More
A thread woven throughout sessions and sidebars at DigIn 2019 was the idea that insurance innovation is in a period akin to halftime during a football game. Over the past few years, the industry has experienced a substantial ramp up. It’s no longer a question of whether accurate property data is relevant to a carrier’s business …
Read More
The April BuildFax Housing Health Report (BHHR) revealed an increase in maintenance activity after five months of decreases, while single-family housing authorizations continued to decline. Maintenance activity increases are owed, in part, to severe convective storms across the U.S. With hurricane season on the horizon, BuildFax anticipates inclement weather to continue to impact maintenance volumes, …
Read More
Catastrophe reinsurance rate increases didn’t come to fruition in 2018, however, this year Florida reinsurers are expecting a shift in the market. Analysts reported catastrophe reinsurers have added inflation factors into their pricing following two years of impactful hurricane seasons and external pressures from increasing loss creep. The effect of loss creep was made particularly …
Read More
More and more people moved out of typically high-demand states in favor of up-and-coming regions last year, according to the 2018 U.S. Migration Report by northAmerican Moving Services. This allows carriers a prime marketing opportunity to expand their book of business into new areas. The report found that last year, Illinois, California and New Jersey …
Read More
It’s been six months since Hurricane Michael first made landfall on the Florida Panhandle and hurricane recovery is progressing at a steady rate – major repair completion is projected to be three months away. However, discussion of Michael has resurfaced as officials credit a recent uptick in wildfire activity to hurricane-downed trees strewn across the …
Read More
Hail season has commenced, and the Midwest and Texas are already seeing a steady rise in storm activity. Forecasts indicate this region will see continued convective storms in the coming months, spiking insured losses across the region. Following several years of severe weather, carriers that closely monitor recovery activity will have the upper hand in …
Read More
The BuildFax Housing Health Report leverages U.S. property condition and history data to provide insights into macro- and microeconomic trends are affecting the U.S. housing market. In May, month-over-month single family housing authorizations rose slightly, but the trailing three-month outlook still declined 4.76% year over year. This is in stark contrast to May 2018, when …
Read More
The March BuildFax Housing Health Report (BHHR) revealed the fifth consecutive month of declines across national housing indicator. However, the report also identified a few factors that may contribute to a rise in housing maintenance over the next few months. Chief among them are spring home buying season and increased hail activity. Over the past …
Read More
The BuildFax Housing Health Report leverages U.S. property condition and history data to provide insights into macro- and microeconomic trends are affecting the U.S. housing market. In April, maintenance activity saw a modest increase for the first time in five months. The increase, due in part to elevated repairs following convective storms and natural disasters, …
Read More