As an underwriter for an insurance company providing commercial property insurance policies, one of the first steps you’ll typically do after receiving a policy application is to order a commercial inspection of the property being considered for coverage. Commercial building inspections are used not only for new construction but also for existing properties in order […]
A property inspection can be divided into one of two basic categories: Residential inspection Commercial inspection While these two types of inspections are similar in many ways, they also have a number of differences in how they are conducted and what they’re expected to reveal. Most inspectors specialize in either residential or commercial inspections, although […]
There’s a large, untapped commercial inspection market out there just waiting for qualified inspectors to fill the void. As an insurance underwriter, a part of your underwriting process when writing coverage for a commercial property is likely having a commercial inspection done to determine the state of the property and to uncover any inherent risks […]
In 1999, ASTM Standard E2018-99 was published by the American Society for Testing and Materials, outlining what’s considered “good and customary practice” for commercial property inspections. The Standard was written to demonstrate what’s considered proper in conducting what’s called a baseline Property Condition Assessment, or PCA. As a commercial property inspector, you’re no doubt familiar […]
A commercial inspection, also called a commercial building inspection or known as a property condition assessment, may be done for lenders, real estate investors, or insurance company underwriters. This inspection is needed in order to understand the condition of a particular property. This should include a property condition report detailing each building system and describing […]
Property inspections can be roughly broken down into two types: the residential inspection and the commercial inspection. While both of these inspection types share similarities of purpose, they’re also distinctly different in a number of ways. Both are meant to provide documentation outlining the current condition of the property being inspected and to identify any […]
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 […]
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 […]
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.
