hurricanes

AAIS Webinar ft. Davies: Hurricane Models – Creation, Usage, and Regulation

Jun 28, 2023 / by AAIS posted in AAIS Webinar Series, NAIC, Regulation, hurricanes, catastrophe, NatCats, Actuarial, Davies

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As part of the AAIS Webinar Series, AAIS hosted a virtual presentation on June 13, 2023, featuring AAIS Partner, Davies. Moderated by AAIS Personal Lines Product Manager, Linda Jancik, the session explored how wind models are created, used, and regulated. Featured guest speakers, Greg Fanoe, Director & Consulting Actuary at Davies, Sandra Darby, Property & Casualty Division Actuary at the Maine Bureau of Insurance, and Shaveta Gupta, Catastrophe Risk & Modeling Actuary at the NAIC, discussed how this data is gathered from inside the storm, why it’s collected, and how it is used by insurance carriers to price policies. The panel also analyzed hurricane models from the regulation side, explaining how regulators use this data to develop legislation to further protect consumers and ensure a healthy market.

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Colorado State University's Phil Klotzbach Offers Early Clues on Florida Hurricane Season

Apr 6, 2022 / by AAIS posted in Insights, Issues & Trends, Climate Change, P&C Insurers, AAIS News & Views, AAIS Insights, hurricanes, Florida Insurance Market, NatCats

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Phil Klotzbach, Research Scientist at the Colorado State University, stopped by The AAIS Executive Roundtable with a preview of the upcoming hurricane season in The Florida Report.

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Wind or Water? Breaking Down Slab Claims After Hurricanes

Sep 15, 2021 / by Matt Hinds-Aldrich posted in Issues & Trends, Homeowners, New/Emerging Risks, P&C Insurers, AAIS Insights, Insurance Line of Business, Flood Insurance, flood, talent, risk mitigation, hurricanes, hurricane resource center, slab claim, risk awareness service, catastrophe, national flood insurance program, NatCats, AAIS Risk Awareness Service, AAIS Hurricane Resource Center, AAIS Hurricane Live Tracker

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Risk Management Service Inc. (RMS) estimates $25 billion to $35 billion in onshore and offshore insured losses in the Gulf of Mexico alone were caused by Hurricane Ida. This doesn’t include the damage to other parts of the country. While the fundamentals of hurricanes are widely understood these days, there remain several important nuances to hurricane losses that are essential to understand for insurers, regulators, and the general public alike. Here we will look at one less understood type of claim from hurricanes – slab claims.

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AAIS Service Supports Hurricane Risk Assessments, CAT Planning & Event Tracking

Feb 23, 2021 / by AAIS posted in openIDL, Community, Technology, Issues & Trends, Data & Technology, Insurance News/Current Events, Open Source, Insurtech, IoT, Data, Data/Tech, AAIS Views, hurricanes, NatCats

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Accurate risk assessment is key to mitigating exposure and to unlocking underwriting opportunities.

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COVID-19 Massive Industry Impact and Emerging Trends...An Analyst Perspective

Jul 9, 2020 / by AAIS posted in Community, Issues & Trends, Events, Insurance News/Current Events, AAIS Event Archive, COVID-19, Regulatory/Compliance, Telematics, P&C Insurers, Industry, 2020 VME, VJDowling, reinsurance, AAIS Views, hurricanes, NatCats

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Recently, Dowling and Partners’ Gary Ransom spoke to AAIS CEO and President Ed Kelly during the Virtual Main Event, discussing how COVID-19 will touch nearly every aspect of the insurance ecosystem. The impact is pervasive. In fact, according to Mr. Ransom, the COVID-19 pandemic is on track to become the largest insurance event in history, according to one industry expert.

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Unleashing Product Potential...Together

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