Study 4: Underwriting the Risk: Property

Question 1

COPE

Answer 1

Construction
Occupancy
Protection
Exposure

Question 2

Construction

Answer 2

• Can be broken down into 6 categories - frame, jointed masonry, non-combustible, masonry non-combustible, modified fire resistive, and fire resistive
• Might also include the size of the building, its age, the number of storeys, and information on the heating system

Question 3

Occupancy

Answer 3

• Refers to the use of the building
• Home: Owner occupied vs rented
• Commercial Building: Type of business and the associated hazards

Question 4

Protection

Answer 4

• Refers to both private and public protection
• Public - FUS grade, availability of fire departments
• Private - sprinklers, extinguishing systems, fire alarm systems

Question 5

Exposure

Answer 5

• The chance the applicant will suffer a loss as a result of proximity to other risks
• Risks may be in separate buildings near the one the applicant occupies
• Natural hazards (adjacent forest or body of water)