From Wildfires to Floods: Managing Property Risk in a Changing Climate
Climate-related property risks are showing up in places many organizations didn’t expect. Wildfires are affecting areas outside traditional western regions. Flooding is occurring in locations that never carried flood coverage before, and severe storms are creating larger and more frequent losses. For public entities, this is changing how property risk is evaluated and how insurance […]
Why Property Valuations are Under the Microscope
(And What Risk Managers Should Do About It) If it feels like property insurance valuations are getting more scrutiny lately, you’re not imagining it. Across the insurance industry, especially in the public sector, accurate Statements of Values (SOVs) have moved from “important” to mission-critical. And for risk managers overseeing municipalities, school districts, and state-owned properties, […]
Preventing Underinsured Property Losses: 4 Key Drivers
Imagine this scenario: A mid-sized city believes its community center is fully insured. Then a fire breaks out, consuming the building. When the smoke clears, the insurance policy, based on a $10 million replacement cost, falls $2 million short of the true rebuilding cost once debris removal, code updates, and urgent contractor premiums are included. […]