Understanding undisclosed risks is vital to quoting a commercial property accurately. Often, unknown or incomplete information proves costly. You need reliable data on past and future site-specific weather events, prior incidents that didn’t result in filed claims, and potential risks from neighboring properties. Verisk’s Peril and Incident Report gives you a complete picture of a property’s risks, allowing you to quote more precisely.
Verisk’s Peril and Incident Report provides data on unknown risks through verified property data and other sources, giving you information you can’t get anywhere else. You get a historical record for the six most recent years available of reported fire and gas emergency calls — and not just calls that resulted in a filed claim. The incidents may suggest the presence of risks and a lack of precautions previously unknown that warrant additional examination.
Understanding the effects of weather events and previous damage is vital. That includes wind events, advanced terrain analytics and nonmodeled hail, lightning strikes, and wildfire events. Drawing on proprietary Verisk data, the report details trend indications and historical occurrences down to the street level for the last five years. You also get the date of the last event and our Hail Damage Score™, which shows the probability that a property suffered damage in a previous hail event.
You can use this data to better understand risks and align them with your insurers’ underwriting guidelines — all of which gives you a competitive advantage.