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A home insurance inspection can provide several benefits, both for the homeowner and the insurer that’s writing the homeowners insurance coverage for a property. When done properly, an insurance inspection will give you, the underwriter, the information needed to accurately assess risks and potential liabilities that will affect the decisions you must make regarding whether […]

In the insurance industry, risk is defined as “the possibility of loss.” There is no risk if there’s no possibility of loss. Conversely, if loss is a certainty then, again, there is no risk. Risk cannot always be measured, and because the cost of insurance is determined by an expected loss, if a risk can’t […]

Having a residential inspection done has long been part and parcel of the homeowner’s insurance policy underwriting process. The past few years have seen significant improvements in the way these inspections are being done, leading to higher efficiency and more cost effectiveness. Major drivers responsible for these improvements include: Advancements in inspection technologies such as […]

As a property insurer, your dual purpose is to provide your clients with the coverage they need to protect their property and to do it at a cost that fits within their budgets. To do this, an important part of the underwriting process is a comprehensive property inspection to determine the nature of the insurance […]

Residential and commercial insurance inspections have typically been a time-consuming, data-driven process that required a boots-on-the-ground approach to uncover the information needed to provide an accurate insurance risk assessment. Inspections are a critical part of the insurance underwriting process and recently developing inspection technology continues to help this process evolve into something that’s more accurate, […]

Insurance risk is something that, as a property insurance underwriter, you deal with on a continual basis. While the risks may change from one property to the next, all risk cannot be eliminated and the amount of risk exhibited by a potential policyholder will be the major determining factor in deciding whether a policy should […]

A commercial inspection may be considered for a number of purposes, but always the underlying reasons are: Verifying a safe environment Verifying compliance with applicable laws and regulations Depending on the building and business type, a commercial inspection may be required by a variety of authorities. Hospitals, for example, may receive a number of inspections, […]

As a property insurer, when hiring a property inspection outfit you want someone who’s reliable, thorough, honest, fully qualified and certified and able to complete the job in a timely fashion. Insurance Risk Services (IRS) has been providing high-quality property inspection field services for nearly four decades, since 1984, and demonstrates all of the above […]

To an insurance underwriter, insurance risk is something that needs to be accurately calculated in order to determine the correct charge for the coverage being offered to a prospective policyholder. Although insurance risk should be avoided where possible, it’s impossible to completely eliminate it. There are, however, several ways for you to manage risks, bringing […]

In an effort to continually help our property insurance partners make the most reliable, informed decisions regarding the underwriting process, Insurance Risk Services regularly reviews, tests and implements the latest available property inspection technology to remain on the leading edge of the technology curve. This inspection technology includes a number of digital devices unheard of […]