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Verisk Analytics, Inc., announced the launch of the Verisk Catastrophe Index, a new service providing loss estimates of insured property damage after catastrophes. Verisk is a provider of risk assessment solutions and an important participant in the insurance-linked capital markets through its Property Claim Services (PCS) and AIR Worldwide brands.

The Index builds upon PCS’s 60 years of insured property loss estimation experience and AIR’s more than 20 years of catastrophe modeling expertise to generate estimates of insured property losses by county and by line of business following PCS-designated catastrophes.

The index allows for better tailoring of catastrophe risk transfer instruments while enhancing transparency thanks to its loss-based trigger mechanism. By focusing coverage only on those counties and lines of business where they have exposure, cedents can reduce their basis risk and ensure that they pay only for the protection they need.

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