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Commercial Lines Rating Series: Part 8 – Causes of Loss – Special Form

Posted by WSRB on February 3, 2015

Causes of Loss – Special Form

Special Cause of Loss provides coverage for risks of direct physical loss unless excluded or limited.

Theft coverage is included when using the limit of insurance (LOI) rating method, but it can be excluded.

The Watercraft Exclusion modifies coverage under Special Form. It excludes watercraft damage to retaining walls that are not part of a building, bulkheads, pilings, piers, wharves, or docks.

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Topics: Property and Casualty Loss Control, property rating, rating bureau, GIS Mapping, insurance

Unreinforced Masonry Buildings: A Hidden Danger

Posted by WSRB on July 23, 2014

Did you know that almost 1,000 buildings in Seattle are unreinforced, and only about 15% of those buildings have had the necessary seismic upgrades to make them earthquake safe?

Many buildings are constructed of unreinforced masonry (URM)and prone to collapse in an earthquake.

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Topics: Building Construction, Hazards

Tips to Prevent Brush Fires

Posted by WSRB on July 15, 2014

For residents of Western Washington, it's easy to grow complacent about wildfire risk. But wildfires do burn here, and so do brush fires. What precautions can we, in Western Washington, take to help prevent a massive blaze? Let's go through a few key preventive measures. 

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Topics: Washington state, wildfire, forest fires, Hazards

Common Home Fire Sprinkler Questions Answered

Posted by WSRB on June 20, 2014

At WSRB, we are committed to reducing losses caused by fire. While we focus most of our business activities on property, we also know that saving lives when a fire occurs is even more important.

When it comes to home fire sprinklers, many people have questions. Are they truly effective? How do they work? Won’t the flood damage cost more than the fire damage? Let's address these in turn.

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Topics: Automatic sprinkler systems, Home Fire Protection

Warehouses: Storage Issues You Should Know

Posted by WSRB on June 11, 2014

Rack storage in warehousing facilities can present a complicated fire risk.  From the types of products being stored to the height of the storage, many factors need to be addressed to properly understand these risks. While this is not a comprehensive guide, it will help you identify common issues with rack storage the next time you’re walking through your customer’s business.

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Topics: Automatic sprinkler systems, Inspections

Automatic Sprinkler Testing: Internal Piping Condition and Obstruction

Posted by WSRB on May 20, 2014

Every year, a sprinkler test should go through an annual inspection, testing and maintenance, in what's called a confidence test.

The confidence sometimes includes other tests, such as the main drain or local alarm test. Sprinkler systems go through other, less-frequent tests, too, such as a trip test using the inspector’s test outlet for a dry system or an internal pipe inspection.

When operated, properly maintained sprinkler systems are effective 96% of the time, according to the National Fire Protection Association (NFPA).

For us to give sprinkler credit to a building, we require:

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Topics: Automatic sprinkler systems, property risk inspections

Actual Cash Value vs. Replacement Cost and Why It Matters to You

Posted by WSRB on May 13, 2014

Imagine a tree falls through the roof of your home during a rainstorm. Not only is your roof in need of repair but so are many of your belongings. When it comes to replacing your damaged belongings, your insurance company will have to determine the value of what was damaged or destroyed. The two most common methods for this determination are Actual Cash Value (ACV) and Replacement Cost (RC). 

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Topics: Disaster preparedness, insurance

Duties After Loss: What Your Insurance Company Expects from You

Posted by WSRB on May 8, 2014

When you buy a property insurance policy, you’re buying a promise from an insurance company: you’re essentially paying a small amount of money each month to protect yourself, your family or your business against a much larger loss.

But what happens when you do suffer a loss? Although insurance policies can vary, the duties after loss tend to be fairly standard.

Let’s say your kitchen catches on fire, or you accidentally run a red light and hit an oncoming car, or perhaps during a windstorm the shakes on your roof blow away, letting the rain and debris come into your home — what do you do?

According to most insurance policies, you must:

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Topics: rating bureau, Disaster preparedness, insurance

Disaster Preparedness and Your Insurance Policy

Posted by WSRB on April 28, 2014

We often discuss disaster preparedness on our blog, but one thing we don’t spend much time covering is the parts of your insurance policy that may come into play after a disaster happens. As we always caution, talk with your agent. He or she is your best resource. Still, we can offer a few tips on what you should talk to your agent about when discussing coverage.

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Topics: Disaster preparedness, insurance, Home Fire Protection

Tornadoes in Washington: Should You Batten Down the Hatches?

Posted by WSRB on April 25, 2014

When most people think of tornadoes and where they occur, the Midwest usually comes to mind, not somewhere like Washington state, where our biggest weather woes tend to be flooding and wind storms — and occasional minor snow storms. But, tornadoes do occur in Washington and have even been known to cause property damage and loss of life.

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Topics: Disaster preparedness, insurance, Hazards