Insurance

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Climate change is altering the frequency and severity of natural disasters, along with the associated structural damage costs. Given this trend, understanding the property insurance landscape is more important than ever to homeowners, potential buyers and coverage providers. CoreLogic’s blog provides expert advice on navigating the property insurance landscape, including data to help homeowners, property buyers, insures and appraisers make the most informed decisions. Read previous CoreLogic blog posts on property insurance.
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June 21, 2021

What is Really Happening with Lumber Pricing?

The Facts Behind the Lumber Shortage The rapid increase of lumber prices has been all over the news throughout the COVID-19 pandemic, and everyone seems to have their own explanation of why this trend has been occurring. From increased demand, to the lack of timber, to the Mountain Pine Beetle de...

April 12, 2021

Protecting Vulnerable Communities: Two Major Opportunities to Insur...

70% of Damage from Flooding is Uninsured Every one of the approximately 125 million occupied homes in the U.S. has some degree of risk of flooding. While over 7 million U.S. homes have the potential to flood from hurricane storm surge, over 10 million additional homes are exposed to flood ri...

April 7, 2021

How to Predict Fire Insurance Losses

Focus on Probability of Fire Instead of Proximity to Fire Departments With the coronavirus pandemic resulting in more Americans working, playing and schooling from home than ever before, many are now spending an additional 8.5 hours per day in their homes. And as college students and family membe...

March 30, 2021

How Underwriters Can Minimize the Coverage Gap

Climate Change Underscores Importance for Accurate Quoting With natural catastrophe events becoming more frequent and more severe, many insurers are looking for ways to ensure that their portfolios are properly covered. Total losses are on the rise, and coverage gaps can mean a higher potential f...

March 23, 2021

4 Ways for Insurers to Reduce Losses During Severe Storms

Managing Overall Loss Cost While Keeping Customer Satisfaction High BY PASCAL BEGIN AND SAUMI SHOKRAEE INSURANCE, NATURAL HAZARD With the nation grappling from a seemingly endless array of severe weather events like tornadoes, hail and extreme wind, it is more important than e...

February 24, 2021

How Loss Simulations Can Prepare Energy, Utility, and Communication...

The year 2020 was particularly active when it comes to natural hazard and catastrophic risks posed to property. We witnessed a 7.0 magnitude earthquake in Turkey and Greece, record-breaking wildfires in California, and the most active hurricane season on record. While much of the news focused on ...

December 15, 2020

Moving Toward Stabilization: U.S. Single-Family Rent Growth Reached...

Single-family rental prices grow as renters demand more space Single-family rent growth of higher-priced single-family homes surpasses 2019 rates while rent growth of lower-priced homes remains below year-ago levels CoreLogic® (NYSE: CLGX), a leading global property information, analytics an...

December 14, 2020

An Introduction to the National Flood Insurance Program

A Q&A with Scott Giberson Q: What is the NFIP? A: The National Flood Insurance Program (NFIP) is a program established by the U.S. Congress in 1968. The NFIP has two primary purposes: to share the risk of flood losses through flood insurance and to reduce flood damages through ...

September 24, 2020

2020 Insurance Coverage Adequacy Report

In this interactive map report, CoreLogic examines two use cases that identify opportunities for Insurers to offer flood insurance to underinsured homeowners at risk of flooding: Storm Surge Along Atlantic and Gulf Coast of US inside and outside Special Flood Hazard Areas (SFHA). Inland Flooding ...

June 26, 2020

Three Reasons Parametric Insurance is Our Future

As climate change continues to alter the atmosphere and increase the severity and frequency of natural catastrophe events, insurers across the nation are considering new ways to improve their underwriting and claims operations. Excessive losses from these severe events have led them to adopt para...

June 19, 2020

Coronavirus Creates Ideal Conditions For Spike in Non-weather Water...

Fears about the coronavirus pandemic have prompted public officials to order quarantines and stay-at-home orders across the nation. A Gallup poll on April 3rd indicated that 75% of Americans have self-isolated in their household.1 This means that all of those hours previously spent at t...

May 26, 2020

The Top Four Challenges Facing the Property and Casualty Insurance ...

The insurance industry is one of the oldest industries in the world, dating back to the third and second millennia B.C. An industry with such deep roots in human civilization has thrived by continually transforming to changing circumstances. Still, the insurance business faces unique obstacles to...