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 …
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Housing Wire’s 6th annual Tech100 awards recognized BuildFax as one of the most cutting-edge tech companies in the housing sector. This marks the second year BuildFax has made the list. BuildFax first made the list in 2017. Since then, the company has almost doubled in size and grown at double-digit CAGR – a true testament …
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Hurricane-related insured losses have skyrocketed over the past two years. Heading into 2019’s hurricane season, carriers face the challenging task of responding swiftly to claims, while also controlling loss creep, mitigating fraud, and managing property risk and exposure. It’s a tall order, but the right advanced data services can support these initiatives. Carriers who leverage …
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The February BuildFax Housing Health Report (BHHR), which delivers a comprehensive view of macro- and microeconomic trends affecting the U.S. housing market, revealed gaps between national and city-level trends. The February report confirmed the housing market slowdown persists amidst repeat declines in key housing indicators. However, on the metro-level, some cities are still experiencing steady …
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It’s in the best interest of North Carolina carriers to closely monitor Hurricane Florence recovery. Florence, which made landfall in September 2018, confirmed a recent trend in hurricane activity –a hurricane’s category no longer tells the whole story. In the days before Hurricane Florence reached North Carolina, it was downgraded from a Category 4 hurricane …
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January catastrophe reinsurance renewals are in the books. In aggregate, reinsurance renewal outcomes were stable across the U.S. However, as BuildFax predicted a few months ago, catastrophe reinsurance renewals were disproportionally impacted by loss-hit accounts. A recent report from Willis Re found that carriers without catastrophe losses left these discussions with renewal rates that ranged …
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Camp Fire claimed at least 153,000 acres and more than 14,000 structures in Butte County. According to BuildFax data, maintenance activity – construction performed on properties – in the area increased 8.57 percent year to date compared to January through October 2017. This suggests carriers may not have accurate assessments of the wildfire’s true damage …
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