Category Actuarial / Analytics


Predictive Analytics and Surplus Lines: Freedom of Rate but Not Free of Unfair Discrimination

Harold Weston – Similar risks should be priced similarly, and relevant distinctions based on actuarially relevant factors should be captured in the rate. Predictive analytics in insurance will allow ever more precise design of insurance products, selection of insureds and product targeting, and price for the risk exposure. However, the proliferation of “big data” that […]


From Fire Insurance to Home Owner’s and Commerical Property Insurance

Despite the many gaps and restrictions on coverage we see in insurance contracts today that we have to endorse around, it’s worth bearing in mind that most major policies forms with multiple perils and coverage grants were originally separate policies, often issued by separate insurance companies.

Look at the modern homeowner’s insurance policy and the commercial property policy. We still sometimes refer to them as “fire policies,” because that is originally all they covered, the peril of fire, nothing else.

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