California Department of Insurance Approves Verisk's ISO Wildfire Mitigation Filings for Homeowners, Dwelling, Commercial Property, Commercial Inland Marine and Businessowners Programs
Portfolio Pulse from Benzinga Newsdesk
Verisk (NASDAQ:VRSK), a data analytics and technology provider, has received approval from the California Department of Insurance for its ISO wildfire mitigation filings. These filings allow insurers to apply specific wildfire mitigation discounts to their rating plans, complying with a CDI regulation. Verisk's proactive engagement with CDI and its position as an industry leader is highlighted by being among the first to have its filings approved.
January 08, 2024 | 11:18 am
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Verisk's approval for ISO wildfire mitigation filings by the California Department of Insurance may enhance its reputation and market position, potentially leading to increased business from insurers needing to comply with new regulations.
The approval of Verisk's filings is likely to be seen positively by the market as it demonstrates the company's leadership in the insurance analytics space and its ability to adapt to regulatory changes. This could lead to increased demand for Verisk's services in the short term, as insurers look to implement the new wildfire mitigation discounts in their rating plans.
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