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Article: Insurers COPE by going back to basics. (FC&S on Lines).(construction, occupancy, protection and exposures in assessing fire risk)(Brief Article)
- Article from:
- National Underwriter Property & Casualty-Risk & Benefits Management
- Article date:
- June 10, 2002
- Author:
CopyrightCOPYRIGHT 2002 The National Underwriter Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Back to the basics" is more than just a catchphrase in underwriting circles these days. Insurance companies are once again requiring information--scads of it--not only about the risks they're being asked to write for the first time, but also on those they're renewing.
One area that has gained renewed importance is COPE: the construction, occupancy, protection and exposures of properties being considered for fire insurance. These four attributes are at the core of what makes a property risk a good--or bad--one. After all, fire remains both the most basic and the most serious general threat.
Several discussions I've had with veteran insurance ...