COPE Assessments - Contruction, Occupancy (Operations), Protection, Exposure
COPE assessments are conducted to assess a set of risks which insurance underwriters review when determining whether to offer an insurance policy. The reports are factual and are prepared ultimately for the insurance market to support placement of the business entity concerned.
These reports are a shorter version with a more limited scope when compared to a full underwriting survey and focus mainly on property damage and business interruption with the potential losses being expressed in MPL and EML scenarios and calculations.
In most cases the key risk issues which require remediative intervention are not included within the COPE survey; however, these can be incorporated upon request.
Each of the individual factors (namely construction, occupancy, protection, and exposure) propose different risks and can alter a valuation in different ways.
The construction aspect covers aspects on how the buildings/structures were made (such as the building location, materials used, the building age), whilst occupancy pertains to the tasks and processes for which the building is utilized. Protection covers the aspects of the building/structure which are protected, whilst the exposures portion relates the external factors in close proximity to the building which may pose a potential risk.
COPE surveys are best suited for premises which operate as commercial offices and retail-type operations where there are no processing or manufacturing activities taking place and where there is less operational complexity and are suited to smaller to mid-market risks.
100
Independent
100
Impartial
100
Reliable