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Arson: What Insurers and the Public Can Do

Posted by Sandra Bird on March 4, 2020

When you think of property crime, you probably think first of car theft, robbery or vandalism — not arson. But arson is more costly than you might realize. In fact, the FBI reports that the average dollar loss per arson was $17,406 in 2018, the most recent year for which data is available. For industrial/manufacturing structures, the average dollar loss was $100,578.1  

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Topics: property and casualty loss control, home fire protection

On Demand Insurance: Why Niche Players Shouldn't Be Ignored

Posted by Bryan Stanwood on November 6, 2018

In today’s service economy, it’s all about finding a niche. No matter the industry, if there’s a customer need not being filled, someone will find a way to address it. A niche doesn’t have to be sexy or earth-shattering. Even a small innovation can have a sizeable impact.

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Topics: property and casualty loss control, insurance

Vacancy, Foreclosure and Property Risk: A Chilling Reminder

Posted by Joe Nolan on September 18, 2018

A few weeks back, the Wall Street Journal featured a story which triggered the chilling sensations and forebode of an unseasonably cool August day in Seattle: imminent dark mornings, umbrellas, zipped-up collars, and wiper blades. Against a photo of an FBI team leaving the office of a New York state apartment developer, the piece detailed clever tactics of deception, seemingly from our past financial nightmare of mortgage loan debacles.

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Topics: property and casualty loss control, property risk inspections

Insurance Rate Support for New Programs

Posted by Jim Antush on April 8, 2013

One of the most common challenges that compliance professionals face is how to justify rates for a new program or coverage to the state insurance department’s satisfaction.

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Topics: insurance underwriting, property and casualty loss control, insurance

Using Elevation Tools for Insurance Underwriting

Posted by WSRB on February 19, 2013

PropertyEDGE elevation tool

 

Elevation is commonly used by insurers to determine a property’s height in relation to sea level or floodplains to assess the need for flood insurance. However, elevation tools can also be used to determine the slope and aspect of an area.

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Topics: insurance underwriting, property and casualty loss control, PropertyEDGE, GIS mapping