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Insurers that continue to evolve their risk modeling gain a competitive edge in underwriting and risk management.
As of May 28, the NOAA has recorded 1,016 tornado reports for 2024.
Insurance industry news from NormanMax Insurance Holdings, Cytora, SambaSafety and more is featured in this weekly update.
Insurance is a 'necessary solution to scaling this market with integrity,' industry players say.
Many feel prepared for the unknown without taking steps to implement novel mitigation plans, Origami Risk reports.
Weather modeling and forecasting increasingly make use of AI to speed up computations and to increase accuracies.
Contractor fraud in the U.S. cost upwards of $9.3 billion in 2023.
Beginning September 1, the insurer will offer a total 6.3% discount to insureds whose homes meet all of the state's Safer from Wildfires regulations.
The NOAA reports the U.S. has seen a markedly above-average number of twisters in 2024 so far.
Damage appears similar to the impact of strong winds from hurricanes Ike and Alicia, according to AccuWeather.