Crawford GTS® Global Large Loss Database 2018 Report

The enclosed report is based on open and closed claims from the date of loss. This report provides a high level overview of those claims as well as a more detailed look back over the last five years, from 2013 to 2017. 

Wildfires and Wine Country

Our expertise spans continents and when California was struck by wildfires in the fall of 2017, we used a methodology developed to assess the viability of vineyards damaged by wildfires in Australia.  This methodology helped the insurer of a winery in California save a million dollars.  Our team identified steps to restore damaged vines to help bring the vineyard to its full capacity quickly, allowing the winemaker to re-enter the market in a strong position.

Crawford’s Exhibits at Recent Cyber Risk Insights Conference

Cyber attack: It’s an ongoing, potential threat for which companies are on constant guard. Today’s cyber attackers—like the technology they exploit—continue to evolve and innovate at lightning speed.

Crawford GTS® Global Large Loss Database

The GLLD contains large loss records* from 2008 to present. Given the market success of our Global Technical Services™ (GTS™) division and the nature of the business, the database is never static, as claims are either added or updated minute by minute. The data is used for various internal and external reports as well as for strategic management purposes.

The Future of Cyber Insurance

In 2013, UK and Irish businesses alone sustained an average of more than 70 new infections a day, putting them both in the top 10 countries exposed to persistent threat. The cost to organisations of data breaches is growing and most of the consequential losses currently remain uninsured. One of the key challenges in aiding the development of a viable cyber insurance market is finding the right approach to handling both first and third elements of complex cyber claims, according to Benedict Burke, senior vice president, Crawford & Company.

Photovoltaic Power Stations and Loss Adjustment

This brief article aims at providing basic information about photovoltaic power stations as one of the renewable electric power sources capable of industrial-scale application. The topic is examined from a loss adjuster’s point of view. Extensive experience obtained through loss adjustment pertaining to dozens of claims, both on small sources and on large solar parks, is discussed, along with specific examples of claim situations.

CAT Hurricane Winds

Now that it is after June 1 we are in the midst of the six month Atlantic hurricane season. During hurricanes, adjusters are faced with many issues and challenges in the adjustment process. Losses can occur directly on the exposed oceanfront or much further inland depending on the hurricane’s path and duration. One specific area in the adjustment of hurricane losses that it is important to focus on—which sometimes presents a challenge to adjusters—is wind and flood damage. When a hurricane makes landfall, flooding is usually associated with wind. But it has been shown in many instances that storm surge can result in flooding, which can cause just as much damage as wind.

Superstorm Sandy a Year Later: A Record-setting Storm and a Record-setting Response

In late October 2013, Superstorm Sandy – a storm of unprecedented size – struck directly at one of the most densely populated areas of the United States. In a handful of days, millions of lives were disrupted and billions of dollars in damage occurred to infrastructure, buildings, houses, and vehicles. This paper summarizes the effects of the storm, how Crawford handled record-setting claims, and how our country and cities will handle future catastrophic events.

Crawford Responds to Superstorm Sandy Amid High Claims Volumes and Unique Challenges

With 80 mph winds hurling an unprecedented 13 foot surge of seawater at New York City, Superstorm Sandy hit fast and with force at the end of October. In its wake, it left a total of 175 people dead, almost 8 million without power, flooded the New York subways, and closed the stock market for two days.

Thailand One Year On

Since Thailand suffered what was by far the biggest insured flood loss in history, some tough lessons have been learned. The Thai floods hit nearly 1,000 factories feeding global supply chains - particularly in the auto sector - costing insurers an estimated $20bn.

Prepare to Handle U.S. Hurricane Claims Wherever the Storm Strikes

Lessons Learned from Hurricane Irene: Do you know when the next hurricane will strike? From the Gulf Coast to the Eastern Seaboard, every coast is vulnerable. While hurricanes making landfall in the northeastern U.S. coast don't happen often, you still need to be prepared.

CAT Claims and the Future or Adjusting

There is no doubt that 2011 will go down as a pivotal year for the global re-insurance industry. Richard Day, Vice President, acts as conduit to the Lloyd's Market for our overseas adjusters and has had been heavily involved in the unprecedented level of natural disasters that have occurred in the past 2 years.

The Rising Cost of Insurance Fraud

Presented by Clive Nicholls, Senior Vice President, Global Markets

Japan Earthquake and Tsunami

The March 11 earthquake and tsunami can best be described as a complex “Super Cat” event, and one which will have sizeable ramifications for businesses and the insurance industry across the globe.

Handling Product Liability, General Liability and Product Recall Claims in China

Product liability refers to the legal liability that arises out of the design, manufacture, distribution or sale of dangerous or defective products.

Loss Adjusting in the Coal Mining Industry

This brief covers the coal mining industry and the loss adjuster's role in dealing with claims in this sector.

Business Interruption Considerations in Hurricane Claims: A Complex Calculation for Adjusters

An obvious sign of an impending hurricane is the appearance of plywood being nailed over plate glass windows on Main Street businesses. Inside supermarkets and home-improvement stores appear long lines of anxious shoppers. Transportation out of the area becomes a major goal.

Volume 6, Issue 1 2015

In this issue we are highlighting three articles focused on the theme of Heavy Lifting: GTS® Assists with the Heavy Lifting, Crawford & Company’s GTS® Engineering Experts Help Recover One of the World’s Largest Mobile Cranes, and Environmental Adjusting: What lies beneath. We are also featuring a profile with Tom Carstens, senior vice president of Crawford Global Technical Services®. We trust that you will find these interesting and of reference value.