PCS Adds Natural Hazard Analyses to Catastrophe Bulletins
The integration from the Property Claim Services division of Verisk Analytics is designed to align the use of precision climate business data for P&C insurers.
INN Breaking News, April 9, 2014
The Property Claim Services division of Verisk Analytics, a risk information source, now features weather analysis maps of affected areas. This is a new component of the PCS catastrophe designation and loss estimate bulletins for the P&C insurance industry.
When Property Claim Services (PCS) designates a weather event as a catastrophe, the initial PCS Catastrophe Designation Bulletin can have an additional element such as a Verisk Climate Respond map, Verisk said. The map provides objective weather information illustrating the affected geographic areas. Additional detail associated with the event perils will be included in the first PCS Catastrophe Loss Estimate Bulletin.
The PCS enhancements for the United States will use weather and natural hazard analytics from Verisk Climate, a division of Verisk Analytics, said the company. PCS will make similar enhancements available on June 1, 2014, for Canada. The PCS implementation of Verisk Climate analytics improves claims department productivity and customer service, the company said.
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