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 [...]
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 [...]
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 [...]
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 [...]
Atlantic Hurricane Season officially started June 1, but it’s never too late to make sure your properties’ COPE data is complete and up-to-date. When used in conjunction with a catastrophe modeling tool like AIR or RMS, thorough COPE data can help ensure you have the right coverage whenever a risk event pays you a [...]
When you’ve been in the property risk management business as long as we have at AssetWorks, 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. [...]
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 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 [...]
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 [...]
