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Property Claim Services launches global marine, energy loss database service

Verisk Analytics Inc.'s Property Claim Services business launched PCS Global Marine and Energy, a new loss aggregation service that will provide industry loss estimates for ocean marine and offshore energy events likely to exceed $250 million.

Property Claim Services expects the full historical database, reaching back to 2009, to be completed soon. Insurers, reinsurers and others in the global risk and capital supply chain can access this database to view the industry loss for large non-elemental events around the world and facilitate reinsurance and alternative risk-transfer transactions, the company said.

The company added that insured loss events likely to exceed $250 million for the global marine and energy sector will include energy physical damage, marine hull, marine cargo and liability.