Insurance has been around since ancient times when it’s believed it first became popular as a risk-sharing scheme between ship owners carrying goods across the oceans and investors willing to provide indemnity for these goods and the ships carrying them for a fee. But even before this, a form of insurance can be found written […]
A commercial inspection is typically an integral part of the process of buying a commercial building and might be ordered if you’re an insurance underwriter, an investor, a portfolio lender, or a commercial mortgage-backed security lender. These commercial inspections may be referred to as facility condition assessments. The purchase of a building can represent a […]
Home insurance inspections have long been an important part of the home insurance policy underwriting process providing you, the insurance underwriter, with critical information used in your important underwriting decisions. A home insurance inspection generally has two main purposes: To determine the replacement cost of a property should it become destroyed by a peril covered within the […]
A guy walks up to a blackjack table in a casino and places a ten-dollar chip in the betting area in hopes of besting the dealer. He’s taking a risk that he may lose that $10, but also has the chance of earning $10 if he has a winning hand. He can even earn $15 […]
Insurance companies are under continual pressure to attract, service, and retain quality customers in an extremely competitive market. As an insurance company underwriter, your aim is to write policies that will properly protect your policyholders while, at the same time, provide profits for your company. A long-time staple of the P&C insurance company underwriting process […]
An insurance risk is the threat of a loss for which an insurer can provide indemnity to an insured. For every type of insurance policy out there, there are insurance risks specific to that type of policy for which specific coverage is provided. For example, for auto insurance coverage, obvious risks to you, the insurer, […]
Simply defined, risk is the possibility of injury or loss. Insurance risk revolves around this potential for loss or injury and an insurance contract represents a risk-sharing between two entities; the insured and the insurer. A synonym for risk often used in the Property & Casualty (P&C) insurance industry is “peril.” A homeowners’ insurance policy, for example, may […]
Back in 1962, a book called The Success System That Never Fails was published by self-help book author, philanthropist and founder of a multi-billion dollar insurance company W. Clement Stone. What has since become a popular phrase in business management was coined on page 7 of this book – something Stone called “a secret of […]
In the insurance industry, each type of insurance deals with its own types of insurance risk. Insurance risk can be defined simply as the possibility of an insured suffering a financial loss that’s covered in a policy issued by an insurance company or other insurer. As an insurance company underwriter, your job is to assess […]
As an insurance company underwriter, ordering a commercial inspection is standard procedure when looking at writing insurance coverage for a business. Whether a new policy or the renewal of existing coverage, a commercial inspection is needed for several reasons: To ensure accurate valuation of the building for replacement purposes To ensure the business is not […]
We’re delighted to announce that Insurance Risk Services will rebrand to Davies in the near future.
