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
