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Insurance

New Technology Is Changing the Way Carriers Inspect Properties

To inspect or not to inspect

Mikhail Palatnik    |    Insurance

Benefit of Optimized Inspection Program

When underwriting a new policy or renewing an existing one, Insurance carriers used to have one option when it came to understanding the property’s current condition. A physical, on-site inspection of the property was conducted to make sure it was being properly maintained and to identify needed repairs or significant upgrades. But since so many homes did not have maintenance issues or...

The Wrong Way. Or the Right of Way

Inside the Underground World of Right of Way

Matt Karli    |    Insurance

Perfect World Scenario

Building and maintaining the pipelines that carry natural gas and crude oil is a vital component to providing the energy that runs our world. While the nation’s 2.6 million miles of pipelines have proven to be the safest way to convey petrochemicals, transporting hazardous materials is difficult and requires unwavering attention to detail at every step—from initial route planning...

The San Andreas – Locked, Loaded and Ready to Go

Seismologist warns the “Big One” is Imminent

Susan Williams    |    Insurance

San Andreas Fault

In his recent keynote at the National Earthquake Conference, Thomas Jordan, director of the Southern California Earthquake Center declared that, “The springs on the San Andreas system have been wound very, very tight. In particular, the southern San Andreas fault looks like it’s locked, loaded and ready to go.” The San Andreas Fault system is the boundary between the...

What Is My Home Worth?

I’m paying $574,000 for this house, but it only needs to be insured for $225,000.

Susan Williams    |    Insurance

Greenery

Agents often find themselves answering questions like this because consumers can be confused when it comes to the appropriate homeowner’s coverage amount for an insurance policy on a newly purchased home.

Market value (the $574,000 referenced above) is the opinion of what someone is willing to pay for a home. For a single-family home, that price includes the cost of the land...

Commercial Property Insurance Rates on the Decline

Low Incidence of Natural Hazard Events in 2015 Likely to Contribute to Continuing Trend

Thomas O'Neil    |    Insurance

Commercial Property Ins Policies

During the last few years, commercial property insurance rates have steadily declined and the trend is expected to continue in 2016. The decline has been fueled by several factors which begin with a steady stream of entrants into the commercial insurance market including non-traditional insurers, start-ups and investors in search of alternative opportunities for capital. More suppliers have...