Insurance underwriters evaluate a number of criteria in determining the insurability of commercial and residential real property. Thorough inspections play an increasingly important role in both mitigating current hazards, and in identifying and addressing other potential hazards. Being up-to-date with inspections impacts everything from financial liability to mortgage financing, and whether or not the property will be an acceptable risk to an insurance company – and at what cost.

There are a number of independent research and public safety organizations and governmental regulatory bodies with jurisdiction over inspection, testing, remediation, and compliance certification for commercial and residential real estate. From the International Code Council (ICC) and Occupational Safety and Health Administration (OSHA), to the National Fire Protection Association, building codes covering materials and installations, testing schedules, and mitigation measures are studied and best practices codified, serving as the basis and minimum requirements used in most areas of the country. Local, regional, state, and federal government agencies weigh in on any number of safety measures designed to keep people safe, with varying degrees of enhanced overlays on the established minimum requirements laid out by the independent research and public safety organizations. Be sure to check on specific requirements based on location.

To assist our insurance agent/broker clients in educating their current or potential policyholders, Novita has created a printable/downloadable Inspection Hazard infographic that overviews critical areas where compliance can lead to better public safety and help them in navigating the insurance submission process to a successful outcome.

For more information, contact Novita Insurance Solutions, LLC. Your clients depend on you. You can depend on us.