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  2. Safeco - Wikipedia

    en.wikipedia.org/wiki/Safeco

    Safeco Insurance is an American insurance company based in Seattle. A subsidiary of Liberty Mutual , Safeco provides auto insurance , homeowners insurance , and liability insurance . The company name is an acronym for S elective A uto and F ire E nsurance Co mpany of America, or SAFECO (i.e., S.A.F.E. Co.).

  3. Catastrophe modeling - Wikipedia

    en.wikipedia.org/wiki/Catastrophe_modeling

    Catastrophe modeling [1] (also known as cat modeling) is the process of using computer-assisted calculations to estimate the losses that could be sustained due to a catastrophic event such as a hurricane or earthquake.

  4. Liberty Mutual - Wikipedia

    en.wikipedia.org/wiki/Liberty_Mutual

    Liberty Mutual agreed to acquire all outstanding shares of Safeco for $68.25 per share, for a total transaction price of approximately $6.2 billion. The result of this activity was an increase in revenue from $6 billion to over $30 billion in twelve years.

  5. Retrospectively rated insurance - Wikipedia

    en.wikipedia.org/wiki/Retrospectively_Rated...

    Retrospectively rated insurance is a type of insurance that uses retrospective rating: a method of establishing a premium on large commercial accounts. The final premium is based on the insured's actual loss experience during the policy term, sometimes subject to a minimum and maximum premium, with the final premium determined by a formula.

  6. Total loss - Wikipedia

    en.wikipedia.org/wiki/Total_loss

    Total losses may be actual total loss or constructive. [11] If the policy is a "valued" policy (so that the ship or cargo has an "agreed value" rather than a "market value"), then, in the absence of fraud, the agreed value is conclusive, but only for an actual total loss. In a constructive total loss, the agreed value is not conclusive. [17]

  7. ‘Frustrated’ California family says insurer dropped them ...

    www.aol.com/finance/frustrated-california-family...

    A Safeco spokesperson told the television station, “We cannot comment on an individual customer, but we have to understand the condition of the property, and satellite imagery is useful to ...

  8. Parametric insurance - Wikipedia

    en.wikipedia.org/wiki/Parametric_insurance

    Parametric insurance (also called index-based insurance) is a non-traditional insurance product that offers pre-specified payouts based upon a trigger event. [1] Trigger events depend on the nature of the parametric policy and can include environmental triggers such as wind speed and rainfall measurements, business-related triggers such as foot traffic, [2] and more.

  9. Loss development factor - Wikipedia

    en.wikipedia.org/wiki/Loss_development_factor

    Ultimate loss amounts are necessary for determining an insurance company's carried reserves. They are also useful for determining adequate insurance premiums, when loss experience is used as a rating factor [4] [5] [6] Loss development factors are used in all triangular methods of loss reserving, [7] such as the chain-ladder method.