This year, AssetWorks LLC created our first ever "Take Your Child to Work Day" Risk Management Workbook to help the children of risk management professionals learn a little bit more about what their parents do each day! From big bad wolves to convective storms, here's a look at some of the great artwork we [...]
by Justin Deem, Vice President of Appraisal Operations, AssetWorks Risk Management Inc. 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 [...]
Today many organizations are concerned with how to protect the health and wellbeing of their employees during the COVID-19 pandemic, while remaining active and profitable entities within their industries. It’s a careful balancing act we all must face during these stressful, rapidly-shifting circumstances. When it comes to property management, the shift presents its own [...]
by Elliott Holmes, Software Developer, AssetWorks Risk Management Inc. In the Claims industry, automating the claims management process has evolved from “How can we achieve automation?” to “When can we achieve automation?” Despite the desire to employ today’s industry best practices, many organizations’ processes continue to revolve around the use of cumbersome Excel spreadsheets, [...]
We all know that age-old saying: “You get what you pay for.” And when you’re choosing a property appraisal company, there are several important factors that can prove that adage true. When you engage an appraisal firm, you place a lot of heavy responsibility into the hands of your vendor because, let’s face it, [...]
by Ryan Tate, Regional Director, AssetWorks Risk Management Inc. All property insurance programs are different: that, we know. But whether we’re talking about States, Risk Pools, or smaller public entities like counties, municipalities or school districts, it’s fair to say that they all have common problems when it comes to managing and perpetuating their [...]
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’re likely already familiar with catastrophe (CAT) modeling, a method of determining risk exposure in hurricane- or earthquake-prone regions. But look out your window right now. Do you spy dark gray rainclouds on the horizon? If so, you might just be looking at a convective storm, and this common weather pattern is changing the [...]
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 [...]
Last year was the most expensive year recorded for natural disasters in the United States. Damage costs exceeded $305 billion, and unfortunately, experts forecast that 2018 will be even worse. Exposure to environmental risks like fires, floods, and earthquakes are inevitable, but there are ways to prepare your organization for risks like natural disasters. [...]
