Risk managers and executives managing property risks for their companies have a lot on their plates right now, from the increased frequency of weather events to sky-high inflation. Luckily for many risk teams, LineSlip can help them manage and mitigate risks while simultaneously ensuring that their properties have adequate coverage.

In the last few years, economic conditions, labor shortages, supply chain issues, and natural disasters have greatly impacted the commercial property market. The methods risk managers relied on in the past are now insufficient in keeping up with today’s market. In this blog, we share some strategies and best practices for coming up with accurate replacement costs for your properties to ensure that you’re adequately insured.

In the last few years, inflation and a number of other factors have drastically increased rebuilding costs. Due to the unpredictable economic environment, it’s imperative for risk managers to verify replacement cost data for their properties to ensure they have adequate coverage.

In the face of high inflation rates and increasing natural catastrophes, more businesses are facing higher property losses as rebuilding costs have skyrocketed. More than ever, it’s essential that risk managers take the initiative to ensure that their company’s valuations are up-to-date and in line with inflation rates. By doing so, they can help their company be protected from property losses and avoid carriers’ penalties.