Commercial property underwriters have utilized essentially the same information for nearly 400 years: Construction, Occupancy, Protection and Exposure. Known to us mortals as “COPE.” When the correct COPE information is provided, the insurance mechanism performs as intended. However, ISO estimates that approximately 50 percent of commercial properties are incorrectly “rated” from a COPE perspective. The result, $4.5 Billion in commercial property premium leakage over four years.
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