Insurance Valuation TODAY – Third Quarter 2019

Read the latest edition of Insurance Valuation TODAY. The newsletter focuses on topics of interest to insurance professionals, risk managers and others who determine insurable values and replacement costs of real and personal property. Featured articles in the latest edition include:

• U.S. Cost Trend Update – The jump in construction costs seen in 2017 was even greater in 2018 based upon three of the four sources we use to track construction costs. .
• UK Cost Trend Update – The cost of machinery & equipment in the UK has noted increased stability with prices rising on average by 1-3% over the past four years.
• Keep Good Company – It has never been more important to diligently vet, onboard, monitor, and audit critical third-party service providers and vendors. A recent study by Soha Systems found that 63% of data breaches may be directly or indirectly related to third-party access by contractors and suppliers.¹
• Claims Management Issues: The Catastrophic Property Loss – The management of catastrophic loss begins long before the event occurs. This article will explore practical ways to establish control in the chaotic aftermath of a catastrophic loss and suggest alternatives that can be made part of your disaster recovery planning.

We hope you enjoy this edition of Insurance Valuation TODAY.

Source: ¹Soha Systems. Third Party Access is a Major Source Of Data Breaches, Yet Not an IT Priority (Apr. 2016) online survey of over 219 IT and security C-level executives, directors and managers).