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Insurance Business | 26 Oct 2016, 11:08 AM Agree 0
A lack of major and widespread weather events have improved performance among carriers, but depressed pricing and an increasingly competitive environment make for volatility in the market
  • Betsy Collins, CPCU, ARM | 26 Oct 2016, 02:40 PM Agree 0
    OK. Inevitably if the zip code is included in the rating, there will be the usual adverse selection of those companies who do not recognize the zip effect on rates and those who do. Rating would have to be on a basis of using the zips temporarily without rate changes just to see the effect on loss ratio for future rates to be promulgated so the company can fine tune the loss costs. Then the nightmare of rating becomes evident when a premises is in a higher rated zip code than the one across the street. And when a zip is divided into 2 zips, what happens, which we have had happen in Virginia? I await the consideration of this idea with interest.
  • Mariesavoy | 17 Nov 2016, 02:07 AM Agree 0
    Thank you for this information. It was really helpful.
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