How is your property book holding up to the latest inflation surges?

Rising replacement prices may contribute to a $30B increase in loss costs

Ensuring insurance to value (ITV) is good for all parties throughout the (re)insurance value chain: Policyholders are better protected in the event of a total loss, insurers can collect premiums appropriate to the risk, and reinsurers can more accurately assess the risk they are assuming from each of their cedants.

(Re)insurers require granular, timely, and comprehensive replacement costs estimates to successfully navigate today’s volatile, inflationary environment.

Are you addressing key business questions:

Is my data current enough to stay up to date with the changing economic environment?

Am I aligned to claims in the event of a significant loss for properties on my book or cedants in my portfolio?

Am I factoring in all necessary components, including local labor and material costs, for a rebuild?

Is my data partner both reliable and innovative given increasing market pressures?

Complementary Reports

White paper

Striving for ITV alignment

Verisk recommends five strategies to help avoid outdated valuations that could leave insurers and their customers vulnerable in the event of a total loss.

Download the white paper

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