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We have amazing data scientists who are building out new models — from reducing premiums on wildfire insurance in California to using image analytics so that an appraiser can capture the appraisal in real time and use it for quality assurance. The insurance commissioner there declared 13 resiliency prerequisites. Risk Rating 2.0
And yes, this certainly has had an impact on insurance companies from coast to coast, as we’ve seen insurers retreat en masse from states such as California , Florida , and Texas , which have all seen record losses in recent years from wildfires, earthquakes, hurricanes, severe winter storms, sinkholes, and more.
Also, see why Columbus is a hot spot for commercial real estate investors. Being in a flood-prone area can seriously affect your insurance premiums and property value; it could also cause a great deal of aggravation and stress if you experience the wrath of Mother Nature. It’s what we do! Budget, budget, budget! from 2010 to 2020.
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