keyboard_backspaceBack to main blog page

Property Catastrophe Insights

Keep reading for essential info on program conceptualization, marketing, placing and servicing programs.

Search Results

Posts tagged with photo credit - photo credit

Meet OLLE, the Occurrence Limit of Liability endorsement

Author SamanthaKimball , 8/28/2014

Undoubtedly, you’re familiar with many ways that insurers seek to limit their exposures to loss. But how well do you know OLLE?

Sometimes referred to as a Scheduled Limit of Liability Endorsement, an Occurrence Limit of Liability Endorsement (OLLE) has become commonplace on property insurance policies. The endorsement clarifies the amount of insurance that is available in any one occurrence for each location or for each subject of insurance (i.e. buildings, contents, inventory, business income, etc.). Oftentimes, in addition to defining their maximum loss potential, underwriters will impose this endorsement as a reaction to their perceived under-valuation of reported assets.


Marc Roberts / Foter / Creative Commons Attribution-NonCommercial 2.0 Generic (CC BY-NC 2.0)

Updates to severe thunderstorm model help us understand tornadoes

Author SamanthaKimball , 3/17/2014

Guest post by Colin Morris, Analytics Coordinator at NAPCO

Foter / Public domain
I recently visited risk modeling firm AIR Worldwide to learn about the latest updates to their severe thunderstorm model. This model covers straight line wind storms, tornadoes and hail storms and had last been updated five years ago. There was a lack of historical data on these types of storms. Until recently, we didn’t have the technology to properly document and use information about a tornado or severe thunderstorm outbreak. In the past ten years, science has been able to generate new ways to better track wind storms, including tornadoes.