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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

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, 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™, GIS Mapping