Key Takeaways
- Monthly coverage audits prevent gaps from expiring policies, vacancy thresholds, and renovation transitions.
- Water damage prevention (smart sensors, maintenance standards) addresses the most frequent property loss type.
- A claims decision matrix provides clear guidelines for filing versus self-insuring small losses.
- Post-claim reviews identify root causes and prevention measures to reduce future loss frequency.
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Test Your Knowledge
1.What is operational risk?
2.What is a risk register?
3.What is the Recovery Time Objective (RTO)?