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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

Coinsurance Primer – Part 3 of Commercial Lines Rating Series

Posted by Terry Krueger on November 14, 2017

Ever heard anyone talk trash about their insurance? Quite often, it’s because they thought their policy covered something that it didn’t. When a claim doesn’t pay what they expect, it can lead to anger and frustration. This also serves to give the insurance industry a bad rap.

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Topics: Property and Casualty Loss Control

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

Commercial Lines Rating Series: Part 7 – Causes of Loss – Broad Form

Posted by WSRB on May 6, 2014

This blog has been updated. Read it here.

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

Commercial Lines Rating Series: Part 6 - Causes of Loss - Basic Form

Posted by WSRB on January 27, 2014

This blog has been updated. Read it here.

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Topics: Property and Casualty Loss Control, GIS Mapping, insurance

WSRB Subscriber Services - BCEGS

Posted by WSRB on May 29, 2013

BCEGS (Building Code Effectiveness Grading Schedule) offer a valuable glimpse of a community’s protection capability. BCEGS rates are based on the building codes that a community has adopted and the enforcement of those codes. They particularly emphasize codes associated with natural disaster preparedness.

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Topics: BCEGS, Insurance underwriting, Property and Casualty Loss Control, Protection class, GIS Mapping, insurance, Subscriber Services, Home Fire Protection

Insurance Rate Support for New Programs

Posted by WSRB 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, Actuaries, compliance, 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™, rating bureau, GIS Mapping, Home Fire Protection

WSRB Custom Reports Are Now Available!

Posted by WSRB on September 5, 2012

Along with our new General Casualty Report supplement, we are now also offering custom reports through our subsidiary, BMI.  These reports can be tailored to your specific needs to ensure that you are getting all of the information you need to accurately assess risk.  We can also create company-specific questionnaires to be used company-wide. We will speak with you individually to create the right survey to suit your needs and accomplish your goals. These are fee-based services and prices will vary depending on the length and depth of the report. These custom reports can include information on:

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Topics: Insurance underwriting, loss cost, Property and Casualty Loss Control, rating bureau, GIS Mapping, Inspections, insurance