Property Risk Management Reporting: The Reports that Help Reduce Risk
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An effective Property Risk Management System is about more than the property appraisal data that you pour into it. (Though collecting property data is still a critical part of the process.) It’s also about the robust level of information you can get out of your system. The ideal property risk management system should help you form a […]
Property Valuations for Insurance: 3 Scenarios to Avoid
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Addressing 100% of the buildings and structures listed on a statement of values (SOV) with property insurance valuations can seem like a daunting task. One rule of thumb, sometimes used to make the task more manageable, is to set a threshold. Then, everything currently valued above the threshold will be appraised while everything below it […]
How an Accurate Statement of Values Can Secure Insurance Coverage at the Best Rates
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A statement of values (SOV) is a declaration to insurance providers of which properties your entity intends to insure. At a minimum, an SOV generally includes a name, address, square footage, occupancy, and replacement cost for each property listed. For risk management professionals concerned about property risk exposures, an up-to-date, accurate SOV is critical. By […]