Cfc underwriting applications

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Cfc underwriting applications

Each specialist provides an in-depth evaluation of his or her respective facility system creates a detailed description of the system components and existing conditions, Expected Useful Life EUL and Remaining Useful Life RUL projections, photographic documentation and prioritized repair and replacement recommendations with preliminary costs estimates.

Customizing the scope for each client, we will typically prepare opinions of cfc underwriting applications for recommended repairs that are typically delineated into two categories: These categories are summarized below: Physical Needs Over-the-Term are items needing repair or replacement that are beyond the scope of regular maintenance but are necessary to maintain the overall condition of the Property.

These include major recurring probable expenditures, which are neither commonly classified as an operation, nor maintenance expense. Physical Needs Over-the-Term are reasonably predictable both in terms of frequency and cost, however, they may also include components or systems that have an indeterminable life, but nonetheless have a potential liability for failure within an estimated time period.

Read More An REC is cfc underwriting applications presence or likely presence of any hazardous substances or petroleum products on a property under conditions that indicate an existing release, a past release, or a material threat of a release of any hazardous substances or petroleum products into structures on the property or into the ground, ground water, or surface water of the property.

The term includes hazardous substances or petroleum products even under conditions in compliance with laws. The term is not intended to include de minimis conditions that generally do not present a threat to human health or the environment and that generally would not be the subject of an enforcement action if brought to the attention of appropriate governmental agencies.

The scope-of-work for this assessment typically includes an evaluation of the following: Physical setting characteristics of the property through a review of referenced sources such as topographic maps and geologic, soils and hydrologic reports. History of the uses of the property, adjoining properties and surrounding area through a review of referenced sources such as land title records, fire insurance maps, city directories, aerial photographs, prior reports, and interviews.

Current property uses and conditions including observations and interviews regarding the use, treatment, storage, disposal or generation of hazardous substances, petroleum products and hazardous, regulated, or medical wastes; equipment that is known or likely to contain PCBs; storage tanks and drums; wells, drains and sumps; and pits, ponds or lagoons.

Uses of adjoining and surrounding area properties and the likelihood of known or suspected releases of hazardous substances or petroleum products to migrate into the subject property.

Information in referenced environmental agency databases and local environmental records, within the specified approximate minimum search distance from the subject property.

In addition, based upon the age and type of construction, as well as the location of the site and the client scope of work, testing for the following may be conducted: Asbestos-Containing Materials — The US Environmental Protection Agency EPA banned certain types of asbestos-containing materials ACM during the s and s including sprayed-on applications, wet-applied and pre-formed asbestos pipe insulation, pre-formed asbestos block insulation on boilers and hot water tanks, and flooring felt.

McClain Consulting Services, Inc. The EPA considers paint containing greater than 0. Radon — Radon is a naturally occurring gas that is emitted as uranium breaks down in the soil. It is odorless, colorless and tasteless. Multi-family residential and commercial properties with subterranean space occupied on a routine basis not storage space in EPA Zone 1 are typically sampled.

In addition, record searches are typically performed for residential sites, schools, churches and day care centers. Lead in Drinking Water — Lead has historically been used in pipes, solder, and brass fixtures used in water distribution systems and plumbing material.

Inthe EPA banned the use of lead at concentrations exceeding 0. McClain Consulting Services Inc. Additionally, as appropriate, McClain Consulting Services will provide Phase II ESA services in which we collect samples of soil, groundwater or building materials to analyze for contaminants.

A typical subsurface investigation scope may include installing soil borings that are converted into temporary monitoring wells to allow for groundwater sample collection.

Soil samples are typically collected continuously during advancement of each soil boring. Soil samples are field screened using a photionization detector PID and the soil samples indicating the highest PID reading are selected for laboratory analysis.

Following monitoring well installation, groundwater samples are collected from each temporary monitoring well location and the soil and groundwater samples are analyzed for volatile organic compounds VOCs using Environmental Protection Agency EPA method The fieldwork is typically performed under the direct supervision of a Professional Geoscientist PG and once the results are obtained, we prepare a Phase II ESA Report documenting the results of our findings.

Read More Earthquakes are randomly distributed in time and are usually defined on a probabilistic basis. This is a standardized hazard level, often used by property owners in gauging the severity of earthquake ground motions at appropriately conservative damage risk levels.

Other stakeholders in an investment, for instance a mortgage lender or insurer, may require different levels of conservatism in their decision making process.

We gather and analyze ground fault, regional seismic history and ground acceleration data. The SEL represents an estimate of damage at the mean value of a normal distribution curve describing damage to a large population of buildings similar to that being assessed.

In a portfolio of similar buildings, nine out of ten buildings are likely to experience less than the estimated SUL damage, while one building out of ten is likely to experience more damage.

Additional Resources

The SEL and SUL are estimates of losses expected to occur from an earthquake attributed to local geological faults reported as a percentage of building replacement value. The seismic risk assessment typically includes the following: Review of available geologic and soils reports and drawings.

Inspection of the facility to assess the property, building, related facilities and general site characteristics. We observe the general building configuration, building exterior components, and portions of the accessible structure as well as the overall quality of construction.Specialist lines underwriting agency, CFC Underwriting, has launched a cyber incident response application that will allow policyholders to notify a claim with a click of a button and receive.

Click the “+” sign next to the section of applications to expand.

cfc underwriting applications

Click on the application and it will open as a PDF document. McClain Consulting Services, Inc. provides a variety of customized facility assessments nationwide. We work closely with each client to provide specialized facilities data and presentation systems that minimize their risk and maximize their profits.

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Note: The table does not sum to a total due to the impact of reinstatement premiums. Prior year favourable development for the fourth quarter of was $ million, compared to favourable development of $ million for the fourth quarter of

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