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A professional commercial inspection of a property for insurance company purposes includes three distinct steps: A walk-through survey of the entire property, both interior and exterior, to visually examine the property’s general condition Procurement and review of appropriate supporting documents Submission of a final inspection report A commercial inspector in the employ of a property […]

Ordering a residential inspection is an important step for insurance underwriters to take when underwriting a new homeowner’s policy. It may also be called for under certain conditions for a policy renewal, especially if significant alterations have occurred to the property since its last residential inspection. As insurance is a risk sharing agreement between the […]

Risk, simply speaking, is the danger that an unexpected event will occur and will cause a loss. Whatever you do in life carries with it a certain amount of risk, whether it’s crossing the street in traffic or buying a stock that could potentially lose value. Risk is the chance that an oncoming event may […]

The property inspection process may be conducted in a variety of ways and may serve a number of different purposes. As a property owner, an insurance inspection may be something that causes concern, although it needn’t be. Many property owners may be subject to an inspection on a regular basis, depending on their occupancy use, […]

The property inspection business has seen some exciting technology advancements during the past two decades. Availability of rapid, wireless access to the Internet, mobile technology, microprocessing, high-resolution imaging from smart phones and affordable commercial drones are just some of the inspection technology areas making significant changes in the insurance inspection area. We’ve all witnessed huge […]

Risk is a part of everyday life, and most of us do what we can to mitigate that risk when possible. This includes looking both ways before crossing the street, using seat belts or motorcycle helmets and driving safely when in our cars. Prudent people are constantly engaged in some type of risk management activitiy, […]

There are two major reasons why an insurance company requires a home insurance inspection: To avoid the potential of taking on undue risk that may represent the possibility of future claims. These risks may revolve around maintenance issues, safety (liability) issues or other conditions that, in the eyes of an underwriter, could lead to a […]

Insurance, in its simplest terms, is the transfer of risk from a policyholder, or insured, to an insurance company, or insurer. Insurance risk is defined as the possibility of loss. Loss, in this case, can be defined as an undesirable financial outcome. While there are other types of risk and other types of loss in […]

Conducting a residential inspection for insurance purposes has two main goals. To ensure that the policy being written accurately reflects the cost of rebuilding the property in the event that it’s destroyed in a catastrophic loss, and to discover any liabilities that represent a potential danger to the property or to people visiting the property. […]

As a property insurance company underwriter, your number one job is to accurately assess the amount of insurance risk represented by a prospective policyholder, utilizing a number of different tools. Typically, this process may include: Analyzing insurance application information submitted Determining the amount of insurance risk involved with this particular applicant Screening the applicant against […]