PCS expands specialty lines loss reporting platform

PCS has expanded its specialty loss lines reporting platform to include worldwide aviation industrywide insured loss events.

PCS Global Aviation focuses on events with estimated industrywide insured losses of at least US$50m. In addition to airline industry loss events, the solution will include loss estimates for general aviation events where readily available.

Alex Mican, senior PCS product development director, explains, “The value of a historical database, especially in the aviation sector is irrefutable. Risk transfer today requires reference events from the past, and our clients committed to helping us deliver a robust data set with more than four decades of losses. Through continual feedback and market collaboration in developing PCS Global Aviation, we reduced the uncertainty that usually comes with new product adoption and put credible estimates in front of our clients.”

PCS Verisk first expanded into specialty lines in 2017, with the launch of PCS Global Marine and Energy. Since then, it has expanded its loss aggregation to include PCS Global Cyber (2017), PCS Global Terror (2018) and PCS Global Large Loss (2020).

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