SpatialKey Releases the Next Iteration of its Automated Event Notification Solution for P&C Insurers, Including Hurricane and Storm Surge Alerts & Analysis

P&C insurers can now understand the immediate business impact of hurricanes, cyclones, and typhoons, as well as U.S. severe storms with SpatialKey's next iteration of its automated events notifications solution. 

The Friday Five: Week of July 15, 2019

If you care about what’s happening in the world of property and casualty (P&C), then this is the place to be. Each week, we serve up a bite-size roundup of the latest news, hot topics, and (admittedly subjective) tidbits to keep curious insurance professionals, like you, in-the-know.

Barry makes landfall as Cat 1 hurricane: The latest event data for P&C insurers

Photo courtesy of NOAA

Hurricane Barry made landfall on Saturday morning about 160 miles west of New Orleans near Marsh Island, sparing New Orleans and its levees. While Barry wasn’t a Category 1 hurricane for long, it did make history as the fourth hurricane to ever make landfall on the Louisiana coast in the month of July.

The Friday Five: Week of July 8, 2019

If you care about what’s happening in the world of property and casualty (P&C), then this is the place to be. Each week, we serve up a bite-size roundup of the latest news, hot topics, and (admittedly subjective) tidbits to keep curious insurance professionals, like you, in-the-know.

Willis Re deploys updated wildfire risk solution in partnership with SpatialKey

Willis Re, the reinsurance division of Willis Towers Watson, a leading global advisory, broking and solutions company, has deployed a wildfire risk solution that can be used throughout the U.S. to assess location level wildfire risk, and how the risk correlates to the company’s portfolio level wildfire exposure.  The new solution supports Willis Re clients to write and price wildfire risk with increased confidence and efficiency for the peril of wildfire. 

Underwriting wildfire risk requires a more strategic P&C approach...

Following back-to-back years of tragic wildfires, some California residents and business owners may face another crisis—getting adequate and affordable wildfire coverage. Surplus line carriers and the FAIR Plan, for homeowners who can’t get mainstream insurance, are seeing notable spikes in policies. According to the Surplus Line Association of California, in the first three months of this year 19,389 policies with $52.6 million in premiums were sold—up 93 percent and 143 percent respectively over the same period last year. In counties at "very high risk" of wildfires, the FAIR Plan is running 300 percent ahead of last year according to Tammy Schwartz, its vice president for underwriting and operations.

The Friday Five: Week of July 1, 2019

If you care about what’s happening in the world of property and casualty (P&C), then this is the place to be. Each week, we serve up a bite-size roundup of the latest news, hot topics, and (admittedly subjective) tidbits to keep curious insurance professionals, like you, in-the-know.

2019 Hurricane Best Practices for P&C Insurers

Although El Niño may help quiet the 2019 season, it only takes one storm to cause serious losses. Not to mention, back-to-back storms to wreak operational havoc. Each landfalling hurricane is unique, and brings with it much more than the hurricanes itself: inland flooding, wind, storm surge, hail, and even tornadoes. Beyond the loss exposure, insurers must deal with operational and organizational strain. It’s a season when, perhaps more than any other, insurers need to have their proverbial “ducks in a row.” This means preparing now for the possibility of the worst.

The Friday Five: Week of June 24, 2019

If you care about what’s happening in the world of property and casualty (P&C), then this is the place to be. Each week, we serve up a bite-size roundup of the latest news, hot topics, and (admittedly subjective) tidbits to keep curious insurance professionals, like you, in-the-know.

SpatialKey launches automated event notification and analysis solution for P&C insurers

SpatialKey is pleased to launch the initial offering of its automated event notifications solution which provides 24/7 severe storms event notifications and analysis using weather data from WeatherGuidance. SpatialKey, known for its global data enrichment and geospatial analytics platform, will now help property and casualty (P&C) insurers understand the immediate business impact of US severe storms events by leveraging leading weather data to power event enhancements.

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