What are the underwriting factors to be considered for a fire insurance cover?

Underwriting the peril of fire focuses on the physical hazards presented by a particular loss exposure. To assure a thorough review of these hazards' property underwriters use an approach that scrutinizes four specific areas. These are traditionally referred as COPE-Construction, Occupancy, Protection and External Exposures. Construction of the covered property is of primary concern to the underwriter. The building construction is directly related to its combustibility when exposed and its construction as fuel once ignited. The Insurance Services Office (ISO) divides building construction into Six Classifications: Fire Resistive. Modified Fire Resistive. Masonry Non-combustible. Non-combustible. Joisted masonry. Frame. Occupancy factors affect the frequency and severity of losses. These factors which vary from one occupancy to another can be grouped into three headings: Ignition sources or fire causes. Combustibility. Damageability. Fire protection can be of two types: public or municipal protection provided by towns and cities- and private protection provided by the property owner or occupant. External exposures are those outside the area owned or controlled by the insured. These exposures fall into the following categories: Single-Occupancy Exposures. Multiple-occupancy Exposures When the property being underwritten consists of a single building, fire division or group of buildings owned and controlled by the same policyholder, a single- occupancy exposure exists. A multiple-occupancy exposure occurs whenever other portions of the same fire division are owned and controlled by persons other than the policy holder.