What is a PCS (Property Claims Services)?
A Verisk unit that provides estimates of insured losses from US catastrophe events, used as a trigger reference for industry loss index instruments.
PCS (Property Claims Services)
A Verisk unit that provides estimates of insured losses from US catastrophe events, used as a trigger reference for industry loss index instruments.
How it works in practice
After a major US hurricane, PCS surveys insurers across the industry and publishes an aggregate loss estimate. The initial estimate may be $15 billion, later revised to $22 billion as more claims data arrives. Cat bonds with industry loss triggers reference these PCS numbers to determine whether the threshold has been breached. PCS figures are the standard benchmark for US catastrophe loss reporting.
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