Insurance Journal's Academy of Insurance
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Learn the importance of each of the four basic data points in the property underwriting process: Construction, Occupancy, Protection and Exposure (“COPE”).
Please note, this class may be purchased as a 2-part course, or with our 7-part "I Wanna Know Risk and Insurance Concepts", here.
Construction, Occupancy, Protection and Exposure (“COPE”) are the same four basic elements of underwriting data real property underwriters have been using for nearly 300 years. Each of these four basic data points plays an important part in the property underwriting process.
This two-part series offers a unique perspective of each of these data points.
Anyone writing property insurance will benefit from this class.
• Construction: Students will learn how to determine the property construction class (1-6); why size matters; and how age affects the underwriting decision. We will also discuss mixed-construction issues.• Occupancy: In addition to occupancy issues, how a particular insured’s hazards associated with occupancy will be discussed.• Protection: Sprinkler systems, fire extinguishers, alarm systems, fire doors and fire walls and public fire protection are the primary protection mechanisms evaluated by underwriters. The basics of each are discussed in the class.• Exposure: What external factors affect the insured property? Some of these exposures are discussed in this section of the course.
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