Everyone is still speculating which path Hurricane Joaquin will take. But many businesses, including XL Catlin, are not taking any chances and are preparing for it. To help, many property insurers work with risk engineers to aid in the underwriting process and to assist clients in taking preventative measures to protect their properties. Risk engineers can provide valuable insight and detailed exposure analysis, recommendations for adequate property protection systems as well as development of effective pre-emergency plans.
Small Business Owners: IoT is Key to Better Property Risk Management
November 04, 2019
Insurance and risk management are changing.
Thanks to advances in technology, the focus today has shifted more toward preventing losses instead of just paying for them. The Internet of Things and the power of connected sensors has enabled property owners to monitor their buildings 24/7 and manage risks
Natural catastrophes: how modelling can give European risk managers a new perspective
October 28, 2019
Natural catastrophes can have a huge impact on a company, its operations and its workforce. For risk managers, estimating the annual losses suffered by a portfolio of assets and getting a sense of how an event could affect key facilities or locations is indispensable to allocate resources and prioritise
Too many businesses realize the value of their insurance coverage only after the fact, after they lose something first. That means too many are missing out on reaping the full value of their insurance programs. At the same time, that means that we, as insurers, need to step up our game to make sure