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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

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

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

WSRB By the Numbers

Posted by WSRB on January 6, 2014

On November 4, 2013, WSRB celebrated the 121st anniversary of its very first inspection. Back then, we were known as the Office of the Washington Surveyor, but our functions were not much different. Since 1892, we have grown and expanded while pursuing the same goal: to provide the best information possible to help our customers properly price and assess risk.

Because it’s been 121 years since our first inspection, we wondered how many inspections we’ve done over the years.

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Topics: rating bureau

National Safety Preparedness Month Is a Great Time to Update Your Business and Home Preparedness Plans

Posted by WSRB on September 9, 2013

September is National Safety Preparedness month. The National Safety Council recommends following these four steps to be sure your home or business is prepared for a disaster:

  1. Build a kit
  2. Make a plan
  3. Stay informed
  4. Get involved
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Topics: rating bureau, Disaster preparedness, Home Fire Protection, Hazards

Important Changes to the WSRB Risk Search Tool

Posted by WSRB on April 21, 2013

WSRB has revised the Washington commercial property loss costs in conjunction with the introduction of limit of insurance (LOI) relativities for Basic Group I, Basic Group II, Broad Form and Special Causes of Loss property damage coverages.

Several other rating factor changes and rule revisions were also included in the filing package to supplement the introduction of LOI relativities. These revisions, which we filed on behalf of our Subscribers in filing #CF-2012-RLC09 and CF-2012-RRU09, apply to all policies effective on or after July 1, 2013, and can be found in the Members Page Compliance Filing Library on our website.

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Topics: loss cost, rating bureau, insurance

Safe Heating Practices for Commercial Buildings

Posted by WSRB on October 1, 2012

As the cold weather begins to set in, there is a noticeable increase in residential fire safety campaigns. Many great organizations put out valuable lists of dos and don’ts to try to curb the seasonal spike in home fires. These campaigns serve as an excellent reminder that business owners also need to be cautious about how they are heating their commercial spaces. It can be easy to get wrapped up in the day-to-day challenges of running a business and forget about the risks associated with heating.

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Topics: Insurance underwriting, rating bureau

Federal vs. State Regulation of Insurance: Why It Matters

Posted by WSRB on September 10, 2012

One of the least-reported-on but crucial-to-the-insurance-industry lobbying efforts relates to increased federal regulation of insurance.

In 1945, Congress expressly acknowledged that regulation of “the business of insurance” was best left to the individual states. Since that time, the argument is regularly made that state regulation is “inefficient, costly and burdensome.” It is asserted that the 50+ individual jurisdictions a nationwide carrier has to work with represent a “patchwork” of rules and standards. This patchwork is an agonizingly difficult and redundant regulatory system, one that adds costs and denies consumers the creativity of the free market to quickly develop and market innovative insurance products.

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Topics: rating bureau, compliance, insurance

Customer Satisfaction Survey Action Plan

Posted by WSRB on August 23, 2012

Last week we gave you the results of the multiple choice questions on our recent Customer Satisfaction Survey. Now we would like to talk about some of the comments that you left when we asked you, “Do you have any suggestions for improving our products/services?” We got 65 responses to this question, and while most were favorable (thank you!), there were some that pointed out areas where we can do better.

There were some common areas of concern, so we asked our managers to take a look at your comments and create a plan to make improvements.  Your thoughts and suggestions are now part of our work orders and are being addressed. Some of these items are:

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Topics: Insurance underwriting, rating bureau, Actuaries, insurance

The Modified Mercalli Intensity Scale for Insurance Underwriting

Posted by WSRB on June 11, 2012


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Topics: Insurance underwriting, loss cost, PropertyEDGE™, rating bureau, GIS Mapping, insurance