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In This Issue
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Featured
WebEx: How Brokers Can Use Catastrophe Modeling to Win New Business
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Featured
WebEx: Sinkholes
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Top
Ten Sinkhole Counties
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Tsunami
Report
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Crime
Report Enhancement
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Florida
Fire & Police Tax Updated
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EQECAT
Resources Page
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Tech
Tip: Manual Placement
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Upcoming
Events
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Online
Training Schedule
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Unsubscribe
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Featured WebEx: How
Brokers Can Use Catastrophe Modeling to Win New Business
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Although a lot of
our carrier customers have been utilizing RiskMeter's AAL & PML
metrics, we've noticed many brokers still haven't taken advantage of
this great tool. This is a huge mistake! Brokers who use
our AAL & PML reports will gain a significant competitive
advantage when it comes to winning new business and renewals by:
- Providing
more compelling content for client proposals
- Negotiating
better prices from carriers
- Advising
customers on how much insurance to purchase
The brokerage community will soon be split between the
haves and have-nots: Those with and those without catastrophe
modeling tools. The largest brokers are already using these
tools to deliver more value to clients. The RiskMeter is bringing
this technology to brokers who previously could not afford it.
On Tuesday,
March 29th at 2pm
(EDT) Daniel Munson, Founder, RiskMeter Online will
show brokers firsthand how our catastrophe modeling reports will
benefit them via WebEx. This event will be open to all
prospects and customers, but we have a limited number of seats for
this event. To secure your spot, please register here
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Featured WebEx: Sinkholes
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Sinkhole losses
have been on the rise the last few years in Florida. According to a
report by the state of Florida, 211 property insurers responded that
claims increased from 2,360 in 2006 to 6,694 in 2010, totaling 24,671 claims.
The total dollar amount of those claims was approximately $1.4 billion dollars.
On Thursday,
April 14th
at 2 PM
(EST) Daniel Munson, Founder, RiskMeter Online will lead an online
demonstration of our sinkhole report. By attending this WebEx
you will learn about:
- Leveraging
our Sinkhole Report
- Top
Sinkhole Prone Areas in Florida
- Sinkhole
Statistics
- Various
Risk Mitigation Strategies
- Advantages
of our Sinkhole Clearinghouse
If you're writing property in Florida and not using
our reports, you need to attend! This WebEx will be open to all
customers and prospects. To secure your spot go here
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RiskMeter Announces its
Top Ten List of Sinkhole Prone Counties in Florida
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CDS Business
Mapping, LLC., a leader in online hazard mapping, today announced its
list of the top ten sinkhole prone counties in Florida. This
list is based on information from RiskMeter's sinkhole database and
it's Sinkhole Clearinghouse, which contains over 12,000 sinkholes
not available from public sources. The top ten sinkhole prone
counties are as follows:
- Pasco
- Hernando
- Hillsborough
- Marion
- Pinellas
- Citrus
- Polk
- Orange
- Seminole
- Lake
Sinkhole losses
have been on the rise the last few years in Florida. According to a
report by the state of Florida, 211 property insurers responded that
claims increased from 2,360 in 2006 to 6,694 in 2010, totaling 24,671
claims. The total dollar amount of those claims was
approximately $1.4
billion dollars.
Although sinkhole losses are inevitable, RiskMeter's sinkhole report
can help underwriters and agents to quickly and accurately assess
sinkhole risk. By simply typing in an address, it's possible to get
the number of sinkholes within a given radius (or multiple radii),
the distance to closest sinkhole and the date of the closest
sinkhole(s).
Insurers who write in Florida are usually concerned with Hurricane,
Flood, Wind and Wildfire exposure, but now there's a growing concern
among insurers about sinkhole risk as well. We released our top
ten list because sinkholes are becoming more prevalent in
Florida. A lot of insurers are under the impression there are
just a few counties affected by sinkholes, but in reality there
are at least ten. In order to help our users to minimize their
sinkhole exposure, we've made it a priority to have the best and most
up-to-date data. A few years ago we initiated a sinkhole
clearinghouse program. For those of you not familiar with this
program, it gives participating carriers access to an exclusive
claims database, which is comprised of source carrier data.
Currently, there are over 12,000 sinkholes not available from public
sources in this database.
For more information about RiskMeter's sinkhole report, clearinghouse
program or to get a complimentary sinkhole map, please contact Daniel
Munson, Founder, RiskMeter Online at 617.737.4444 or Email
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Tsunami Report
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The NOAA is urging
Americans who live and vacation on the coast to take the threat of
tsunami seriously. With more coastline than any other country
in the world and proximity to several major fault lines, the Pacific,
Atlantic, Gulf and Caribbean coasts of the United States are
vulnerable to tsunamis. Even the recent Tsunami that hit Japan,
which was considered to have a small impact on CA, has resulted in an
estimated $50 million in damage! RiskMeter would like to remind
you that we offer Tsunami reports for CA, HI, OR and WA. We've
digitized the tsunami evacuation maps for these states and can tell
you within a matter of seconds if a policy falls into one of these
evacuation zones. In addition, this report can be run in batch
to identify tsunami risks in your book. For more information,
please contact Amanda Brax at 617.737.4444 or Email
Do you know how high the largest recorded tsunami wave is? You
won't believe us if we told you. Click here to find
out
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Crime Report
Enhancement
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If you're writing
policies in areas you are not familiar with, you could be in for some
surprises. With the economy down,
crime losses are up. We've recently improved our crime reports
to provide even more value to our customers. Our Crime Report
currently returns data on the Census Block Group where the property
is located. Census Block Groups are a group of several Census
Blocks, which contain between 600 and 3,000 people, with an optimum
size of 1,500 people. So they are very small areas. This
gives you the most detailed information possible, as you can really
understand the neighborhood.
In order to give users a better idea of the overall area, we're now
returning additional statistics. We can now also provide
the maximum score and average for 0.5 and 2 mile radii. These
radii can be changed to meet the individual needs of each
customer. These additional results should help our users to
more accurately assess and price risk.
For those of you who aren't familiar with our crime report, it's
updated twice a year and is based upon FBI Uniform Crime Reporting
Statistics (UCR). Our latest update includes information from
2010. By simply typing in an address, you will get 10 crime
scores:
Aggregate
Crime Index - Overall Crime Score
Violent
Crimes - Combines 4 scores below
- Murder
- Rape
- Robbery
- Assault
Property Crimes - Combines 3
scores below
- Burglary
- Larceny
- Vehicle
Theft
Many of our customers have found this report to be
very useful when writing commercial and residential property, by
identifying high risk areas prior to instituting coverage. Some
of the areas our customers found this to be most helpful, include:
industrial park buildings, habitational risks, bars/taverns, vacant
buildings and crime coverage.
For more information or to test drive this report,
please contact Amanda Brax at 617.737.4444
or Email
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Florida Fire & Police
Tax Territories Updated
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We've recently published the latest updates the state
of Florida has made to its fire and police tax territories. If
you're not familiar with this tax, certain municipalities and fire
districts in Florida have set up pension funds, which are funded by
premium taxes. These taxes require insurers to report to the
state the total premiums for each jurisdiction. Despite best
intentions, determining the correct jurisdiction for an
address can be a major issue for insurers and may result in
paying expensive fines and penalties. RiskMeter has automated
this process and can alert insurers if a tax must be paid, as well as
return the proper jurisdiction code, county name and tax type (fire,
police or both). In addition, we've also made it possible for
users to run their books of business through our Online batch site at
www.batch.riskmeter.com. For
more information, please contact Daniel Munson, Founder, RiskMeter
Online at 617.737.4444
or Email
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EQECAT Earthquake
Scores Transition PowerPoint Available
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Over the years we have compiled many different maps,
presentations and statistics. At the end of last
year we decided to make this information available to our users
through our glossary/resources section in RiskMeter.
We're happy to announce we've just added a new EQECAT
section to this page. In this page you'll find lots of great
information on our EQECAT offerings. In addition, we've
recently posted a PowerPoint, which compares the old and new EQECAT
earthquake scores. Also, there is a white paper and
presentation on our EQECAT AAL & PML Hurricane and Earthquake
Model. To view the EQECAT resource page you will need to log
into RiskMeter. Once you've logged in, you will notice several
hyperlinks (New Address, View Account, etc.) on the bottom of the
page. All you have to do is click on the glossary/resources
link, and you will be taken to a landing page, which contains the
resources link.
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Tech Tip: Manual Placement
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When you use a
nearby address or when the subject is not in the exact place it
should be, you can use the manual placement tool to move the subject
into the correct place. Simply click the manual placement radio
button, and then left click on the digital or aerial map where you
want to relocate the subject. You will only need to click once and
within a few seconds the map will redraw itself. Using the manual
placement feature doesn't simply move the subject property. The
RiskMeter automatically re-runs all of the selected reports. This
gives you a high level of accuracy for any report,especially flood
and brush where it really matters. If you zoom in, you can get a more
accurate manual placement. If you zoom out, you can manually place
the subject a greater distance away from the original placement.
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Upcoming Events - Meet the
CDS Team!
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RiskMeter Online
will be attending or exhibiting at the following upcoming
conferences. Whether you're a customer or prospect, we'd love to
meet with you onsite at these exceptional events! Don't
hesitate to stop by our booth or if you wish to schedule an
appointment, please contact Daniel Munson (Email) or Bradley Sherwin (Email)
at 617.737.4444
AAMGA UFO
March 28-30, 2011 * London, England
PCIAA Joint
Marketing & Underwriting
April 3-5, 2011 * Las Vegas, NV
AAIS Main
Event
April 10-12, 2011 * Ponte Vedra Beach, FL
Target
Markets Mid-Year
May 9-11, 2011 * Boston, MA
Accord LOMA
Insurance Systems Forum
May 22-24, 2011 * San Diego, CA
AAMGA Annual
Meeting
May 22-25, 2011 * Orlando, FL
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Online Training
Schedule
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In order to help
you utilize the RiskMeter Online more effectively, we are now
offering complimentary training to all of our customers. This
is a great way for your organization to have its most pressing
questions answered, learn about the latest risk reports and discover
how to utilize cutting-edge features, such as: Birdseye Geocoding,
One Click
Ruler and Manual
Placement.
To attend any of
the complimentary training sessions, please register here
National Risks
Wednesday, March 30, 2011
2PM - 3PM (EDT)
Western
Risks
Wednesday, April 6, 2011
2PM - 3PM (EDT)
National
Risks
Wednesday, April 13, 2011
2PM - 3PM (EDT)
Western
Risks
Wednesday, April 20, 2011
2PM - 3PM (EDT)
National
Risks
Wednesday, April 27, 2011
2PM - 3PM (EDT)
Featured
WebEx Event: How
Brokers Can Use Catastrophe Modeling to Win New Business
Date & Time: Tuesday, March 29 at 2pm (EDT)
Open to:
Customers & Prospects
Presenter:
Dan Munson, Founder, RiskMeter Online
Duration:
45 Minutes with 15-20 Minutes Q&A
Registration:
here
Featured
WebEx Event: Sinkhole
Exposure
Date &
Time: Thursday, April 14 at 2pm (EDT)
Open to:
Customers & Prospects
Presenter:
Dan Munson, Founder, RiskMeter Online
Duration:
30 Minutes with 15-20 Q&A
Registration:
here
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