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What Property Insurance Professionals Need to Know about Soil Liquefaction

Posted by Zhu Zhu Xiao on December 10, 2019

Our new Earthquake Risks tool gives you easy access to information on multiple earthquake-related data points for any location in Washington state. One of those factors is susceptibility to soil liquefaction. In previous blog posts, we’ve talked a little about what soil liquefaction is and the damage it can cause. Today, we’ll go into more detail about liquefaction and what can be done to reduce its potential impact. 

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Topics: Insurance underwriting, Hazards, earthquake, liquefaction

What the Hardening Market Means for Agents and Underwriters

Posted by Bryan Stanwood on November 12, 2019

Pricing commercial insurance coverage is always part art, part science. Underwriters must consider not only their company’s risk appetite but also what a competitor might charge.  

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Topics: Insurance underwriting, P&C

Commercial Buildings: Top 10 Risk Issues

Posted by Robert Lacy on November 6, 2019

WSRB’s commercial property analysts inspect hundreds of buildings each year for Subscribers. When they’re in the field, our inspectors encounter all kinds of risky conditions and fire hazards that affect insurance loss costs.

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Topics: Insurance underwriting, loss cost, property risk inspections, insurance

BCEGS: How it Can Help You Make Better Underwriting Decisions

Posted by Bryan Stanwood on October 22, 2019

The pictures of places affected by an earthquake, severe storm or other natural disaster often have a puzzling feature: some homes and buildings have survived while others have been reduced to rubble. One answer to the puzzle relates to the local area’s building codes. 

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Topics: BCEGS, Insurance underwriting, Building Construction, code enforcement, Risk Assessment

Have Your Say: AM Best’s Innovation Scoring Method Open for Comment

Posted by Bryan Stanwood on September 24, 2019

Innovation has become so important to the insurance industry that rating agency AM Best will soon begin evaluating insurers’ innovation abilities. Exactly how that evaluation will work is still being determined, and if you’d like to voice your opinion on how it should work, you still have a little time. 

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Topics: Insurance underwriting, P&C, insurance

To Get the Right Data, Start in the Right Place: Part 1

Posted by Chris Jansen on August 27, 2019

Thanks to two television series (and a third one in the works), 90210 is perhaps the most famous ZIP code. The tens of thousands of other ZIP codes toil in relative obscurity but are no less important to not just mail delivery but also a wide variety of other business functions.

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Topics: Insurance underwriting, loss cost, PropertyEDGE™, fire protection classes, GIS Mapping, Risk Assessment

WSRB: Celebrating Another Year of Service and Innovation

Posted by Bryan Stanwood on May 14, 2019

Today, WSRB offers insurance companies instantaneous access to data, both on our website and integrated directly into policy administration systems. We’ve come a long way since our founding in 1911, decades before the technology we now take for granted was invented.  

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Topics: Insurance underwriting, property rating, rating bureau, Washington state, fire departments, public protection

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

Soil Liquefaction for Insurance Underwriting

Posted by Joe Nolan on October 23, 2018

 

 

Located along the infamous Ring of Fire, Washington state experiences an earthquake about once every 8 hours[1]. As an underwriter, chances are you have a number of risks on or near a fault line — over 100 known faults crisscross Western Washington and Oregon.

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Topics: Insurance underwriting, PropertyEDGE™, GIS Mapping, Hazards, earthquake, liquefaction, volcanoes

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