Catastrophe Modeling (CAT Modeling): A Benchmark for Determining Risk
Increasingly, complex software programs for catastrophe (CAT) modeling are serving as a benchmark for insurers to determine risk across various geographical areas of the United States. While not all property and casualty insurers initially rushed to adopt this approach, dramatic rises in loss estimates and other challenges led to catastrophe modeling’s rapid, widespread adoption. As […]
Property Risk Management at the Movies
If life were a movie, risk managers would have to plan accordingly. Here are a few movies to challenge the skills, nerves, and patience of even the best property risk managers. Ghostbusters The scene: In 1984, director Ivan Reitman introduced the world to the Ghostbusters, the paranormal investigators and eliminators who work to save New York […]
Three Common Post-Loss Property Liability Insurance Challenges
Regardless of size or location, every organization is exposed to risk which is why the role of risk manager is so important. Risk managers are tasked with the challenge of identifying and analyzing potential risks as well as implementing procedures to minimize their impact. In the best-case scenario, the occurrence of a risk event does […]
Three Tips for Selecting an Insurance Appraisal Services Partner
Selecting a property insurance appraisal services partner is not like buying a pack of gum. It is not simply a single transaction but rather the start of long-term relationship with your vendor, one in which you will be opening up your buildings to them. Below are a few things we think you should consider before deciding […]
Cost Fluctuations and COVID-19’s Impact on Property Values
The continuing aftershocks of COVID-19 and their effect on business — particularly in construction and property valuations — is resulting in higher construction costs. Supply chains have been disrupted and the cost for materials in certain areas have skyrocketed. While we can’t predict with any level of certainty what will happen next, it is vital […]
The Property Data You Need for Hurricane Season
Atlantic Hurricane Season starts June 1st of each year, but it’s never the wrong time to make sure your properties’ COPE data is complete and up-to-date. When used in conjunction with a catastrophe modeling tool like AIR or RMS, thorough COPE data can help ensure you have the right coverage whenever a risk event pays […]
A Property Valuation Partner in the Age of COVID-19
Today many organizations are concerned with how to protect the health and wellbeing of their employees during the COVID-19 pandemic, while remaining active and profitable entities within their industries. It’s a careful balancing act we all must face during these stressful, rapidly-shifting circumstances. When it comes to property management, the shift presents its own set […]
How a Building Value Estimator Tool Can Help Trend Property Values Remotely
In an ideal, magical land of property risk management, budgets would be limitless and there would be full, thorough, onsite physical inspections of every property in the insurance portfolio, anytime it was needed. Every necessary detail would be expertly verified and documented down to the last roof fastener. And 100% of your total replacement values […]
How Property Risk Software Empowers Remote Risk Management
Our view of the workplace has changed so rapidly in 2020, it’s almost hard to believe that mere months ago most organizational activity and culture was steered from a unified office space. Now so many of us are out there, castaway to our own home office desert islands, Zoom-ing and Microsoft Teams-ing each other with […]
Centurisk RMIS: Unlimited Support, Users and Possibilities
At Centurisk, we recognize that as the task of managing organizational risk evolves and grows more complex, the need to stay ahead of the curve becomes increasingly significant. Over the years, we have learned more and more about risk management challenges faced by our customers that extend well beyond property risk. We knew we wanted […]