Six Trends in Risk Management and Insurance for 2023
Effectively mediating risk doesn’t happen in a vacuum. It involves keeping an ever-watchful eye on market change and knowing the right method and moment to change with it. At Centurisk, we’re always looking ahead for risk and insurance trends, to help our customers protect their interests from fluctuations and better curtail the pain and drama […]
Top Takeaways in Property Risk and Exposures from RIMS 2023
If you missed last week’s RIMS (the risk management society®) conference in Atlanta, Georgia, or maybe just missed some sessions, here are a few of our team’s top takeaways from the sessions they attended: A hard market is here to stay (for a while) Often, when we experience an increase in the frequency and severity […]
5 Ways Risk Management Software Can Help Your University
University risk management departments are all about the details. Whether it’s dealing with insurance incidents and claims, Workers’ compensation, property insurance and loss, or vehicle management, it’s the university’s goal to harness those details to analyze, mitigate, and monitor risk. And that’s where the right risk management software can be a game-changer. A strong risk […]
How to Succeed in a Challenging Reinsurance Market
Today’s reinsurance market is riddled with unexpected pitfalls, putting unprepared organizations at risk for significant loss. This shift was spawned by a combination of factors, including an uptick in catastrophic weather events, changes to the way reinsurance carriers manage their portfolios, worldwide inflation, and economic fluctuations. Fortunately, wise risk pool members and other organizations can […]
Reducing Your Risk Exposure on Historic Properties
Historic properties stand as an important reminder of, and glimpse into, bygone days. But maintaining these structures may present some challenges that leave you longing for a user-friendly time machine to hire some talented craftsmen from the past. Federal rules, like the Standards for the Treatment of Historic Properties, mean you can’t simply tear down, replace, […]
2023 Inflationary Challenges and Property Valuation Trending
A perfect storm of high construction demands, increasing labor and materials costs, labor shortages, supply chain interruptions, inflation, lessening COVID restrictions, and the war in Ukraine have combined to affect the factors that ultimately help determine 2022 property valuations. Let’s take a closer look at these trends and where they’re headed for 2023 and beyond. […]
Today’s Blanket Policies and the Underinsured Property Problem
Once upon a time (or before 2008), when an organization wanted to insure their full property portfolio, they could streamline their insuring process and secure more complete coverage by getting a true blanket insurance policy. This blanket policy was a single property insurance policy that either covered multiple locations, different types of property at the same location, […]
How Centurisk’s Valuation Estimator Helps Mitigate Underinsurance Concerns
Underinsurance has always been a concern for organizations striving to mitigate their risk — particularly those with large property portfolios and unique structures, where lots of very specific data must be collected to ensure valuation accuracy. But increasingly, the underinsurance gap has been made even wider by the volatile cost shifts and supply chain challenges associated […]
Goodbye Silo Effect: How a RMIS Opens Up Greater Effectiveness
Organizations talk about the importance of collaboration, communication and information-sharing, but the Silo Effect remains a very real challenge— and it affects everything, including a company’s workflow and ability to manage risk. You’ll recognize it in duplicated efforts, inefficiencies, workarounds, and departments that focus narrowly on their own efforts without examining how they’re a part […]
Property Insurance Basics: Rates, Premiums & Insurance Company Ratings
Property management means you end up having to know a little bit about a lot of different things. And while you may know that property insurance is important for your business, it’s not always easy to find good information on the basics and how they can affect your own risk levels and bottom line. This […]