Verisk Insurance Solutions – Underwriting announces the release of Location Hail Damage Score, a new solution designed to improve an insurer's ability to underwrite properties with existing hail damage.

Location Hail Damage Score is developed in collaboration with Verisk Analytics unit Atmospheric and Environmental Research (AER) and powered by its AER Benchmark database. AER Benchmark pinpoints locations of damage-producing hail events using proprietary computer algorithms to analyze high-resolution historical natural hazard information derived from weather radar and other sources.

"Since 2008, U.S. insurers have paid 4.5 million hail claims totaling $32.1 billion," says Neil Spector, president of Verisk Underwriting. "Despite the high rate of roof-related claims, many properties damaged by hail have not been repaired. This can leave insurers vulnerable to paying for property damage that occurred before a new policy inception."

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