Consulting
Earthquakes are a constant reality in California. Rising construction costs mean insurance often won’t pay out despite serious property damage.
Understanding how your insurance and mitigation measures will – or won’t – protect you is critical for your bottom line. We can help you understand your risks quickly and efficiently. Arm yourself with detailed, defensible information about your earthquake risks.
There are a wealth of common-sense options for property owners to reduce risk and avoid losses without resorting to costly upgrades or retrofits. Whether your goal is risk reduction, better insurance coverage, or both, we can help you get there.
Case Study – Multifamily Residential
Faced with rising insurance costs, a multifamily residential property owner came to us for help. We identified likely earthquake loss scenarios and assessed whether their current insurance would cover them in those cases. We found that even in a major earthquake their insurance would not be effective due to its structure and terms, despite a premium of over $125,000 per year.
As a result, they changed their insurance program to be more effective, and diverted the resources they saved to some simple property improvements that will have a major risk-reduction effect going forward.