Purpose
The purpose of a Property Underwriting report is to help ensure all favorable features of your business property and risk management systems are well promoted to insurers which will help your broker to negotiate the best property insurance terms and conditions.
CRM Property Underwriting Reports provide:
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A description of management interest and controls including:
- Emergency procedures
- Hot work/ general work permit systems
- Fire Training
- Hazard inspection programs
- Business continuity/ Disaster Recovery
- OH&S programs
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A description of property exposures and protection systems including:
- External areas and exposures
- Fire egress routes, exit signs & stairs
- Storage areas
- Fire Detection System
- Water supplies
- Natural hazards
- Security risks and protection
- Business interruption
- Building construction and fire walls
- Occupancy hazards
- Manual Fire Protections Systems
- Automatic sprinkler protection
- Fire wall separation
- Flood and storm exposure
- Flammable liquids storage
- Public Fire Brigade services
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Calculations of Loss Estimates including:
These include Normal Loss Expectancy and Maximum Foreseeable Loss estimates which take into account both the risk exposures and protection systems provided.
Note: Photographs and site plans are attached to support loss estimates and opinions.
Benefits
Property U/W Reports allow the best insurance terms and conditions to be negotiated from insurers when we can demonstrate good loss prevention standards.
The Loss Estimates provided can assist underwriters to increase their capacity and terms.
Property U/W Reports allow clients an opportunity to implement risk improvements to avoid an embarrassing and or costly rejection of risk by insurers and also provide insurers with a good understanding of the risk for disclosure purposes.
