Home Insurance industry news and insights

2018 Home Trends Report: Insurance Industry Sees Decline in Non-Weather Related Claims

Written by: George Hosfield, Senior Director, Home Insurance

While weather related claims are the most common insurance claims for homeowners, The 2018 LexisNexis® Home Trends Report indicates that non-weather events such as burst water pipes, fires (from appliance failures or electrical problems), and other ...

2018 Home Trends Report: Catastrophic Losses in 2017 Contribute to Sharp Increase in Peril Loss Costs

Written by: George Hosfield, Senior Director, Home Insurance

The 2018 LexisNexis® Home Trends Report reveals the impact of 2017 extreme weather events in the US on catastrophic losses and weather-related perils. According to findings, 2017’s extreme weather, including Hurricanes Harvey and Irma, increased t...

2018 Home Trends Report: By-Peril Trends in the U.S. Home Insurance Industry

Written by: George Hosfield, Senior Director, Home Insurance

According to data from the National Oceanic and Atmospheric Administration, 2017 was the costliest year on record regarding natural disasters in the United States. In August, Hurricane Harvey broke the rainfall record for a single tropical storm. C...

Compliance I.Q.: Understanding the FinCEN Customer Due Diligence Rule

Written by: Bunny Brownlee, Product Manager and AML/Compliance Specialist

FinCEN’s final rule, “Customer Due Diligence Requirements for Financial Institutions,” became effective May 11, 2018. Have you made all the changes necessary to incorporate this rule into your procedures? This checklist will help you think a...

Key Trends in Fire Frequency & Severity for Home Insurance Carriers

Written by: LexisNexis Risk Solutions

Improvements in fire safety and education may be contributing to the downward trend in the frequency of house fires. But while nationally, fire frequency rates are down, fire severity has increased. In other words, there are fewer fires, but the fire...

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