Homeowners' rates that include a severe thunderstorm component based on catastrophe modelling by risk modelling company AIR have been included as part of a rating plan subject to approval by state regulators.Florida Farm Bureau's 2003 homeowners rate filing included an actuarial approach, which develops a distinct base rate for both hurricane and severe thunderstorm perils using AIR's hurricane and severe thunderstorm models.The models were also used extensively in the redefinition of territ
- Tradex borrows £7m to meet Solvency II requirements after Ogden rate hit
- Lloyd’s redundancies: London market forced to focus on cost
- Direct Line's Paul Geddes reportedly linked with ITV CEO role
- 22 dead after explosion at Manchester concert
- Blog: Connected homes should get cheaper premiums
- Solvency II ratios not comparable across EU and won't be used in ratings, says AM Best
- Dacre Bleu: will the industry act after Daily Mail attack on insurer 'sharks' and 'pirates'?