QUALITY ISSUES WITH INSURERS' EXPOSURE DATAA recent analysis of insurers' exposure data by AIR Worldwide Corp., Boston, determined that the quality and completeness of most insurers' commercial policy data is insufficient for a detailed and accurate assessment of their catastrophe risk.
"Nine out of 10 commercial properties analyzed had replacement values significantly less than the amount estimated by our construction specialists," says Karen Clark, president and CEO of AIR. "The variability in the quality of data among companies was also significant with insurers' average replacement values ranging from 20% to 80% of values derived using a standard engineering-based cost estimation process."
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access