Verisk's Property Claim Services launches marine/energy offering
Property Claim Services, a Verisk Analytics business, has launched its global marine and energy service as its first solution outside the property-catastrophe sector.
The new loss aggregation service provides industry loss estimates for ocean marine and offshore energy events likely to exceed $250 million worldwide.
The PCS global marine and energy will enable re/insurers, stakeholders in the global risk and capital supply chain to gain access to an unbiased view of the industry loss for large nonelemental events around the world.
"Our clients have been clear: The industry needs a loss aggregation solution for global marine and energy," said Tom Johansmeyer, assistant vice president, PCS strategy and development.
"We’ve invested considerable time and effort to launch PCS Global Marine and Energy based specifically on this feedback. With a consistent, rigorous approach to loss aggregation, our new solution should help companies understand losses and transfer risk more effectively."
Ted Gregory, director of PCS operations, added: "Loss aggregation is important beyond property catastrophe, and we’ve developed a process focused on the specific needs of this sector while remaining consistent with the retrospective view PCS takes on loss events. As with any event, we’ll stick to a defined methodology to arrive at consistent, independent, and reliable industry loss estimates."
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