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Help Your Customers Protect Their Homes with Smart Devices

Posted by Bryan Stanwood on April 30, 2019

Insurers have a long history of giving customer discounts for installing devices in their homes that reduce risk, such as alarm systems and automatic water-shutoff valves. Today’s smart home technologies are evolving quickly and giving consumers new ways to protect their property and belongings. 

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Topics: Home safety, Washington State, insurance, Home Fire Protection, insurance agents, renters insurance, home owners insurance

The Commercial Property Market Remains Hot, Making Now the Time to Understand Co-insurance

Posted by Bryan Stanwood on April 2, 2019

Many major urban areas feel like crane forests these days. In Chicago, 42 high rises are under construction,1 and in the San Francisco Bay Area, the largest construction projects collectively cost $22 billion, more than the gross domestic product of 80 countries.2 Central Seattle is home to 66 major construction projects, with 4.5 million square feet of office space slated to open this year.3

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Topics: P&C, Building Construction, insurance, Seattle, insurance agents

Cryptic Insurance Language - Part 2

Posted by Bryan Stanwood on March 5, 2019

In response to our blog about the cryptic language of insurance, many of you have asked for a sequel. Insurance is full of confusing terms, so we are all too happy to oblige. Hopefully we can shed a bit of light into the darkness with the following clarifications.

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Topics: insurance, home owners insurance

Do You Know Your Earthquake Classifications?

Posted by Robert Lacy on December 4, 2018

When the Big One hits, what kind of damage can you expect? While it’s up to fate as to how intense or severe the quake will be — or when it will happen — the fact is set in stone. Earthquakes can and do happen here.

 

 

In fact, Washington state is second only to California when it comes to earthquake risk, and this is reflected in our earthquake classifications.

  

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Topics: Insurance underwriting, Building Construction, GIS Mapping, Inspections, insurance, Hazards

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

RCP Codes Demystified

Posted by Terry Krueger on August 21, 2018

According to Wikipedia, RCP could refer to Rochester Community Players, Radio Club Paraguayo, or the Romanian Communist Party.

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Topics: Insurance underwriting, loss cost, RCP codes, GIS Mapping, insurance

Mezzanine vs. Floor — What's the Difference?

Posted by Robert Lacy on May 8, 2018

Some architectural terms — like lobby and foyer, or house and home — are different terms for the same thing. But the same can’t be said of mezzanine and floor. Yes, there’s a difference, and this post will tell you why.

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Topics: Building Construction, GIS Mapping, insurance

The Modified Mercalli Intensity Scale for Earthquake Insurance Underwriting

Posted by Joe Nolan on March 27, 2018

This past St. Patrick’s Day, you may have felt — or heard about — the small earthquake centered in Mercer Island. Though small, it reminds us that we’re in a region prone to quakes.

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Topics: Insurance underwriting, insurance, earthquake

Thoughts On Insurance Conventions And Vendor Booths

Posted by WSRB on October 7, 2016

Throughout my career I’ve attended a good number of conventions and other meetings as a vendor. I set up my booth and talk about WSRB and other topics like golf. OK, mostly golf.

I like to wander about from time to time because I am curious and my feet hurt if I stand still too long. Every show I learn something new on how to display, how to talk to folks, and generally how to do a better job.  The best part of a show is seeing old friends, talking about what we can do and seeing the strength of the insurance agent.

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Topics: rating bureau, insurance, SWAG, Hazards

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