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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. 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.

  7. 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]

  8. 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.

  9. ‘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 ...