Verisk Estimates Industry Insured Losses From Hurricane Otis To Range From ~$3B-$6B
Portfolio Pulse from Benzinga Newsdesk
Verisk Analytics, Inc. (VRSK) has estimated that the insurance industry will face losses ranging from $3 billion to $6 billion due to Hurricane Otis.
November 01, 2023 | 1:10 pm
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Verisk's estimation of significant insurance losses due to Hurricane Otis could potentially impact its stock price.
Verisk's business involves providing predictive analytics and decision support solutions in rating, underwriting, claims, catastrophe and weather risk, etc. The estimated losses from Hurricane Otis could potentially lead to increased demand for their services, but also indicate a higher risk environment for the insurance industry. This could lead to a negative short-term impact on Verisk's stock price due to the potential financial strain on their clients in the insurance industry.
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