Cyber Security: 5 Strategies to Help Your Org Remain Cyber-Attack Safe
Cyber security is a hot topic for many in today’s business landscape, as companies are realizing the dangers that could lie right around the virtual corner. A 2016 cyber security poll conducted by the Information Systems Audit and Control Association in conjunction with the RSA (Rivest, Shamir and Adelman) Conference found that 82 percent of […]
Breakthroughs in Construction and Building Materials can Help Save Costs and Mitigate Risk
Defined by Verisk (formerly the Insurance Services Office/ISO), classifications in doing their respective jobs, as they carefully consider what materials are used in the construction of a building and just how much damage it may sustain in the event of a fire. There are six ISO construction classifications – frame/combustible, joisted masonry, noncombustible, masonry noncombustible, […]
Dealing with Property Risk in an Increasingly Uncertain Climate
We’re coming to the end of 2021, and a quick review of the past months shows the emerging pattern for the year may be found in its lack of pattern: that is, it’s a year in flux. So far, it’s been a rollercoaster ride for those of us in the property risk management industry. Hurricanes, […]
Terrorism Risk Modeling: Premium Protection for Organizations
Catastrophe risk modeling began in the late 1980s and has evolved over the years to provide accurate calculations for organizations to estimate losses against a weather event like hurricanes, tornadoes or severe thunderstorms. Over time, the thinking behind this type of modeling has grown to envelop other types of catastrophes posing the potential to present […]
Ensure Your Property Is Properly Insured (…try saying that 5 times fast)
From business continuity planning to insurance policy management, risk managers have their hands full when it comes to being prepared for a potential loss. Time and again, we hear stories of entities filing insurance claims only to find they didn’t have adequate coverage. If you’re managing a large property portfolio, ensuring your buildings and structures are sufficiently […]
Disaster Recovery: Planning for Risk
For any organization, being exposed to a variety of risks is inevitable, which means, being prepared for the event of a risk occurrence can be extremely critical. Having a disaster recovery or business continuity plan in place can help reduce the impact felt by a risk occurrence and increase the resilience of your operation. Below […]
Desktop Valuations: Don’t Judge a Pump House by Its Cover
We’ve heard story after story of entities getting stuck with the bill after a catastrophe due to property values gone awry. These unfortunate instances expose how differences between an assumed property value and one attained on foot, by a trained professional, aren’t always noticed until it’s far too late. How did it happen? It often […]
How Simple Property Data Spreadsheets Can Lead to Complex Problems
Challenges to Consider when Relying on Spreadsheets to Manage Property Data For years, organizations have gotten by managing property insurance-related data in multiple, complex spreadsheets. While this may seem like a quick and simple solution, it also presents many risks. Risks like: 1. An Unwieldy Volume of Data Increases Chance of Error As organizations grow […]
Help Prevent the Deobligation of FEMA Funds with the Right Documentation
The key to loss recovery funding is: “Documentation, documentation, documentation!” Think about it as building a case for your loss. In order to prove your case, you’ll need evidence, and that means for both pre- and post-loss. Below are five types of documentation we suggest your organization maintain to help ensure that funding obligated through […]
Property Insurance Appraisals: There’s No Substitute for a Physical Inspection
Managing the risk of property exposure requires values that are both current and accurate. Desktop appraisal methods and multiple years of value trending depend solely on the accuracy and completeness of the data provided at the time the structure was added to your statement of values. These methods can potentially result in inconsistent values and […]