84: Hurricane Ida What we know & what it means for reinsurance & ILS: PCS interview
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For our latest Artemis Live interview we wanted to understand how the industry loss from Hurricane Ida has been developing and explore the complexities in the reconstruction and recovery that could impact just how high the insurance and reinsurance market loss could rise.\\xa0
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\\nWho better to do that with than executives from Property Claim Services (PCS), a division of Verisk, so we were joined by Tom Johansmeyer, Head of PCS and Ted Gregory, Director of Operations, PCS and ISO Claims Analytics for this video interview.\\xa0
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\\nEstimates for the industry loss from Hurricane Ida still range from as low as $25 billion to as high as $40 billion, sometimes above, so it's clear at this stage there is no consensus.\\xa0
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\\nIn order for the market to really understand what\\u2019s going on, it\\u2019s important to look at the facts on the ground and the claims data flowing through the market from underwriting companies.\\xa0
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\\nHence, our discussion with PCS in this interview hopes to provide some more detail as to what's being seen on the ground in Louisiana, as well as further afield and how that will potentially influence the continued development of losses from Hurricane Ida.\\xa0
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\\nListen to this episode to learn more about the on-the-ground situation in Louisiana after Hurricane Ida, as well as to better understand some of the complexities that may drive loss creep and claims amplification.
"
\\n
\\nWho better to do that with than executives from Property Claim Services (PCS), a division of Verisk, so we were joined by Tom Johansmeyer, Head of PCS and Ted Gregory, Director of Operations, PCS and ISO Claims Analytics for this video interview.\\xa0
\\n
\\nEstimates for the industry loss from Hurricane Ida still range from as low as $25 billion to as high as $40 billion, sometimes above, so it's clear at this stage there is no consensus.\\xa0
\\n
\\nIn order for the market to really understand what\\u2019s going on, it\\u2019s important to look at the facts on the ground and the claims data flowing through the market from underwriting companies.\\xa0
\\n
\\nHence, our discussion with PCS in this interview hopes to provide some more detail as to what's being seen on the ground in Louisiana, as well as further afield and how that will potentially influence the continued development of losses from Hurricane Ida.\\xa0
\\n
\\nListen to this episode to learn more about the on-the-ground situation in Louisiana after Hurricane Ida, as well as to better understand some of the complexities that may drive loss creep and claims amplification.