6.
PRIOR CLAIMS TELL YOUR STORY
Again, your individual claims history remains important, but underwriters typically focus on patterns rather than isolated events.
UNDERWRITERS EXAMINE:
For example, a property with several water damage claims may face more scrutiny than one that experienced a single large weather-related loss. Frequency is looked upon less favorably than severity. But in either case, the key to painting your property in a favorable light, regardless of the history, is demonstrating that lessons were learned and improvements were implemented.
• Frequency of claims • Root causes of losses • Corrective actions taken • Open or unresolved claims
7.
SECURITY AND LIABILITY CONTROLS
Liability exposures continue to receive increased attention from insurers due to our country’s litigious nature, and the associated court costs and payouts from tenant-filed lawsuits.
UNDERWRITERS MAY REVIEW PROPERTY FEATURES SUCH AS:
• Exterior lighting systems • Security camera systems • Access control measures
• Sidewalk and parking lot maintenance • Pool safety procedures and protection systems • Emergency response protocols
Simple improvements in security and safety controls can help reduce liability concerns and strengthen your overall risk submission.
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