How to Underwrite Commercial Property Insurance
Commercial Property Insurance, Randi Glazer, Randi, Glazer,
The first step in underwriting for commercial property insurance involves a preliminary review of the risk that the property poses. Once that preliminary report has been completed, an engineering report can be initiated, depending on the findings of the initial risk assessment. There is no reason to order an engineering report on a procedural basis.
Commercial Property Insurance
The preliminary risk assessment requires the underwriter to consider a number of elements. The underwriter must consider, the amount of insurance at risk, the perils insured against, the hazards and protection required any indication of underwriting deficiencies, other lines of insurance being considered, and the amount of premium generated by the account.
You may have to reorder an engineering report depending on if new risks become apparent, when ownership or occupancy changes, or when ongoing reports have to be made due to fire risks.
The manner in which the underwriter communicates is important. It is vital that the communication remains positive, even if the decision being made is negative. A positive attitude reflects well on the company that the underwriter is representing. It is also important that the type of language used in the communication indicates how and where improvements can be made.
Randi Glazer is an experienced underwriter and a knowledgeable senior insurance professional.
Visit here for more details - https://about.me/randiglazer
, Randi Glazer
, Randi, Glazer