New Year’s Resolutions for Your Property Data
With 2024 on the doorstep, our thoughts inevitably turn to New Year’s resolutions. Sure, the standard pledges to improve fitness or reduce clutter are a positive way to start the year. But this year, why not do something a little different… and resolve to improve your property data? Here at Centurisk, we’ve made it easy […]
The Value of Property Insurance Appraisals
Every organization is exposed to a variety of risks. This includes the potential for damage from events like fires or windstorms, making it important to be prepared. Property appraisals that provide accurate insurable values and detailed exposure data can help reduce the impact felt by a risk occurrence and increase the resilience of your operation. […]
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, […]
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, […]
Make a Statement with Your Statement of Values (SOV)
Maintaining an accurate, up-to-date Statement of Values (SOV) is important for public entities trying to secure the right property insurance coverage at the best rates for their organization. An SOV is a declaration to insurance providers of which property your entity intends to insure. In most cases, the document is a spreadsheet with a long […]
A World of Useful Property Data with Google Earth Pro
When you’ve been in the property risk management business as long as we have at Centurisk, you find some innovative ways to elevate your data collection game. And one free tool we’d like to share today that’s helped support our continued quest for more complete data is the Google Earth Pro application. What is Google […]
The Property Insurance Data You Need for Water and Wastewater Treatment Plants
Water treatment plants and wastewater treatment plants might not be the first things that come to mind when you’re thinking about accurate property valuation data. But if your entity has one or both types of properties to include on its property insurance Statement of Values, you might just want to give that data a closer look. […]
How to Audit Property Data for Your Insurance Statement of Values (SOV)
It’s a moving target subject to economic factors, new purchases, development, replacement and sale, shifting requirements and, the most frustrating and unpredictable element of all: human error. What is it? Your property data, the information you gather yearly for your insurance Statement of Values (SOV). And by auditing your property data before you submit it, you […]
7 Common Types of Mistakes Found on Property Schedules
by Justin Deem, Vice President of Appraisal Operations When applying for proper property insurance coverage, it’s important to have a complete and accurate property schedule. Why? A well-prepared schedule of information helps ensure accurate coverage and the best ratings possible. It speeds up the underwriting process and provides transparency for everyone involved in the process. Plus, […]