Verisk Analytics, Inc. - VRSK STOCK NEWS

Verisk (Nasdaq: VRSK) has established the Verisk Climate Advisory Council to enhance its climate change solutions. This council, comprising leading climate experts, will provide strategic guidance to improve Verisk's extreme event models and research on climate change. Members include Dr. Cindy Bruyère, Dr. Henk Dijkstra, Dr. Kenneth E. Kunkel, and Dr. Park Williams. Their expertise aims to ensure Verisk's products reflect the latest scientific insights, helping clients manage risks related to climate and weather extremes.

Wood Mackenzie will host the European Power & Renewables Conference on April 2, 2022, amidst volatile energy prices and rising geopolitical risks. The hybrid event will gather leaders from EDF Energy, Renewable Energy Institute, and Société Générale, focusing on the renewable sector's evolution to meet emission reduction targets. Key themes include the impact of 'Fit for 55', future solar mapping, and the economic transition for offshore wind. Participants can engage directly with experts and fellow attendees in tailored breakout sessions.

On March 23, 2022, Verisk Extreme Event Solutions reported insured property losses from the March 16 M7.3 earthquake near Honshu, Japan, estimated between JPY 240 billion (~USD 2 billion) and JPY 490 billion (~USD 4 billion). Commercial and industrial properties account for JPY 50 billion (~USD 400 million) to JPY 100 billion (~USD 820 million) of these losses. The earthquake caused significant infrastructure disruptions, affecting over 1,150 buildings and leading to power outages and supply chain interruptions, particularly in the automotive and paper sectors. Verisk's earthquake model forecasts assess future event risks based on historical seismic activity.

Verisk (Nasdaq: VRSK) announced enhanced Guidewire accelerators to aid insurers and self-insured entities in meeting Medicare reporting compliance, particularly under the new PAID Act. The updates include 150 new data points that improve the visibility of claimants enrolled in Medicare Advantage Plans. This feature is designed to streamline reporting processes and reduce the risk of penalties and litigation, ensuring compliance with Section 111 requirements. The enhancements aim to simplify the management of complex Medicare compliance tasks.

Wood Mackenzie is set to host its inaugural Low-Carbon Hydrogen Conference on April 27-28, bringing together leaders from various sectors, including energy majors and technology innovators. The conference aims to address the critical role of low-carbon hydrogen in achieving a net-zero economy, amid varying production viability based on technology. Key themes include the scalability of low-carbon hydrogen, decarbonisation strategies, and financing initiatives. Attendees can expect presentations from industry experts from EDP, ING Wholesale Banking, and HydrogenOne Capital.

Verisk (Nasdaq: VRSK) announced its nomination of three new independent directors for the upcoming 2022 Annual Meeting, emphasizing a strategic shift towards becoming a global insurance-focused data analytics solutions provider. The company highlighted its ongoing comprehensive review of its non-insurance businesses and plans to separate its Energy segment. Verisk aims to achieve an EBITDA margin expansion of 300-500 basis points by 2024 while maintaining organic revenue growth. The nominated directors, Jeffrey Dailey, Wendy Lane, and Kimberly S. Stevenson, are recognized leaders in their fields.

Verisk (Nasdaq: VRSK) reported its ongoing dialogue with D.E. Shaw, highlighting alignment on corporate governance strategies that seek to enhance shareholder value. Since October 2021, Verisk has engaged with its shareholders, including D.E. Shaw, to gather feedback for improving governance and performance. These initiatives are aimed at generating strong results for shareholders and ensuring sustainable growth. The company continues to leverage advanced analytics to support various sectors, including insurance and energy, while celebrating its 50th anniversary.

The D. E. Shaw Group has urged Verisk Analytics (VRSK) to undergo significant changes to enhance shareholder value, citing long-standing underperformance in share price. They propose positioning Verisk as a pure-play insurance data business, aiming for a potential 70% stock price appreciation and over $20 billion in value creation. Despite some recent actions taken by Verisk, D. E. Shaw believes these are insufficient and reactive. The firm advocates for a dedicated focus on organic growth and margin expansion, enhanced governance, and independent board oversight to facilitate necessary operational improvements.

Verisk's FAST technology platform has been ranked the top life and retirement solution by Information Services Group for two consecutive years. FAST outperformed 20 competitors in competitive strength and portfolio attractiveness due to its predictable results and unique software. This scalable platform drives digital transformation for insurers, enhancing workflows from product development to claims. The platform's capabilities have been highlighted by industry analysts for its effectiveness and agility in life insurance and annuities.