Proactive Strategies for Property Loss Control

In the hard property market, insurers face unique challenges from macroeconomic factors like inflation and industry-specific issues such as third-party litigation funding. At RISKWORLD 2024, experts Charlie Carriker from Global Risk Consultants and Felix Brobbey from nVent emphasized the importance of collaboration and a holistic approach to risk management.

They discussed key components of a successful property loss control program, including loss prevention assessments, accurate valuation, and proactive planning. The speakers also addressed emerging risks from climate change, regulatory updates, and technological integration, offering actionable takeaways for developing a robust property loss control formula.