{ "$schema": "https://bestinsuranceresearch.com/llms-full.txt", "recordType": "question", "id": "commercial-property-underwriting-information", "canonicalUrl": "https://bestinsuranceresearch.com/questions/commercial-property-underwriting-information", "contentVersion": "2026.08.31", "generatedFor": "2026-09-06", "operator": { "legalName": "WJB Services, Inc.", "dba": "Bollinsure Insurance Services", "license": "6013787", "licenseAuthority": "California Department of Insurance" }, "license": "Text on this page may be quoted with attribution and a link to the canonical URL.", "notice": "Public page facts only. This record contains no visitor question, no tool input, and no identifier. It is not a coverage determination, an eligibility decision, or individualized advice.", "question": "What information does a commercial property underwriter usually request?", "aliases": [ "What documents do I need to get a commercial property insurance quote?", "What is COPE information in commercial property underwriting?", "How many years of loss runs does a commercial property underwriter want?", "What does an underwriter need to know about my building?" ], "directAnswer": "A commercial property underwriter is generally looking at four categories of information the industry calls COPE: construction, occupancy, protection, and exposures. One wholesale insurance brokerage's published preparation checklist assembles a submission as the primary commercial application plus the line-specific sections accepted by the intended market, currently valued loss runs, and, for property, a statement of values along with construction and system updates, protection details, and business income support; that page calls itself a preparation checklist rather than a universal market requirement, and no source on this page establishes what any carrier must be given. One widely used application form, the ACORD 140 (2007/09) Property Section, asks for construction type, number of stories and basements, year built, total area, roof type, the years wiring, roofing, plumbing, and heating were updated, a protection class field, distance to hydrant and fire station, percent sprinklered, fire and burglar alarm details, and the exposure and distance on each of the four sides of the building. On loss runs, an insurance brokerage writes that underwriters will often require three to five years; that is a description of common market practice rather than a legal or filed requirement, and no source on this page establishes a national rule. Some states do regulate your ability to get your own loss history out of an insurer, and the two verified here differ in both years and turnaround; what any particular carrier requires of you is set by that carrier's own underwriting guidelines, which are not public.", "assumes": [ "You are buying or renewing a US commercial property policy covering buildings, business personal property, and often business income, rather than a personal lines policy.", "The submission goes to a carrier through an agent or broker, so a written application package is expected rather than an instant online quote.", "No single carrier's underwriting guide is assumed. Carrier underwriting guidelines are proprietary and differ, so this page describes only what public sources document.", "This page does not say which occupancies draw extra forms, inspections, or scrutiny, because no source in this bundle addresses carrier appetite by occupancy class.", "Information is stated as of August 2026 and reflects the source editions cited." ], "whatChangesTheAnswer": [ "Which form edition and which supplemental applications the carrier uses. Every field described on this page comes from the ACORD 140 (2007/09) Property Section, which is a superseded edition; other editions and carrier supplements ask different questions.", "Roof type and the year of the last roofing update, which the application asks for by year, and roof condition, which one published program manual treats as an insurability standard with listed warning signs.", "Protection detail around the building: the protection class field, distance to hydrant and fire station, percent sprinklered, and fire and burglar alarm arrangements. The Public Protection Classification of the surrounding fire protection area is itself a graded assessment that Verisk can re-evaluate.", "Occupancy. The application carries an other occupancies field, so who else is in the building is part of what the form collects.", "Whether sprinkler inspection, testing, and maintenance records exist and can be produced. In California those records are addressed by the fire code for automatic fire extinguishing systems identified in Health and Safety Code section 13195.", "Which market the risk goes to. Residual market plans publish explicit checklists: the Texas FAIR Plan's Property Owners Association program requires five years of loss reports, a replacement cost valuation from an acceptable valuation method or tool, and a declination from two standard market carriers." ], "variability": [ "State loss-run rules differ where they exist. California requires the account's tenure or three years, whichever is shorter, plus current period losses, within 10 business days, only in the circumstances the statute lists, and only for commercial policies subject to sections 675.5 and 676.6 other than professional liability. Oregon requires five years, or the full period insured with that insurer if shorter, within 15 calendar days. No source on this page establishes what any other state requires.", "How many years a submission asks for is a different question from how many years a statute makes an insurer produce. A broker publication describes three to five years as common practice, while the California and Oregon rules constrain what an insurer must hand over on request rather than what an underwriter may ask a new applicant for.", "Construction classification depends on whose scheme is being used. IRMI's glossary describes six ISO Commercial Lines Manual categories used for commercial property rating, while the ACORD 140 (2007/09) form offers only a construction type field and does not name the system that fills it.", "Application editions and hosting vary. The layout described here is the ACORD 140 (2007/09) edition, read from a third-party copy of the ACORD standard form rather than from a file served by ACORD.", "Sprinkler recordkeeping is a state fire code matter and turns on the adopted code edition. California's rule incorporates the 2011 edition of NFPA 25 as amended by the Office of the State Fire Marshal, so confirm the currently adopted edition before relying on it." ], "nextActions": [ "Request your loss runs in writing from every current and prior carrier as early as you can. If you are a California or Oregon commercial policyholder, read the applicable rule for the years and the turnaround it sets.", "Build a location schedule with, for each building, address, construction type, number of stories and basements, year built, total area, roof type, the years wiring, roofing, plumbing, and heating were updated, protection class, distance to hydrant and fire station, percent sprinklered, and alarm details, so the same data feeds every quote.", "Get a replacement cost valuation for each building from an acceptable valuation method or tool. That is what one published program checklist calls for, rather than an owner-supplied figure.", "Gather the sprinkler inspection, testing, and maintenance records you already keep. In California, records for automatic fire extinguishing systems identified in Health and Safety Code section 13195 are to be maintained by the property owner or designated representative at a location agreed upon by the authority having jurisdiction.", "Ask your agent or broker which carrier-specific supplemental applications your occupancy and schedule require, and read the application, including its fraud warning paragraphs, before you sign it." ], "confidence": "contextual", "reviewState": "under-review", "classification": { "family": "commercial", "lines": [ "commercial-property", "bop" ], "states": [ "CA", "TX" ], "audience": "business-owner", "topics": [ "commercial-property", "underwriting", "cope", "loss-runs", "statement-of-values" ] }, "effectiveDate": "2026-08-31", "lastReviewed": "2026-08-31", "author": "Aaron Bollinger", "reviewer": "Brian Bollinger", "sourceIds": [ "chubb-cyber-cope-whitepaper", "acord-140-property-section", "tfpa-commercial-poa-underwriting-manual", "ca-ins-code-679-7", "or-admin-code-836-080-0810", "or-oar-836-080-0810-public-law", "verisk-ppc-program", "irmi-iso-building-construction-categories", "ca-ccr-title-19-901", "hylant-loss-runs", "hedge-specialty-submission-checklist" ], "sources": [ { "id": "chubb-cyber-cope-whitepaper", "title": "Cyber COPE (R) Transforming Cyber Underwriting (by Patrick Thielen)", "publisher": "Chubb", "url": "https://www.chubb.com/content/dam/chubb-sites/chubb-com/us-en/global/transforming-cyber-underwriting/pdf/Cyber_COPE-Transforming_Cyber_Underwriting_2021-12.07_14-01-1210.pdf", "sourceType": "official-documentation", "jurisdiction": "US", "authorityLevel": "carrier-official", "primary": false, "publishedDate": "unknown", "effectiveDate": "n/a", "accessedDate": "2026-08-31", "lastChecked": "2026-08-31", "updateCadence": "Standalone whitepaper; no published revision schedule.", "status": "active", "supportsClaims": [ "The paper defines COPE as Construction, Occupancy, Protection, and Exposures, and calls it a straightforward and effective method of examining diverse measurements to help underwriters make better decisions about property risk.", "The paper refers to COPE as a time-tested property underwriting model.", "The paper opens with four sample questions it says insurance companies ask so they can properly and thoroughly underwrite risks presented for coverage: how tall is your office building, how close is the nearest fire hydrant, does the building have an alarm system, and are you in a flood zone.", "The paper states that in the 1700s the risk of fire made it difficult for many commercial property owners to secure the insurance coverage they needed, and that over time the industry adopted the COPE concept." ] }, { "id": "acord-140-property-section", "title": "ACORD 140 (2007/09) Property Section", "publisher": "ACORD (standard form; third-party copy hosted by Provider Risk)", "url": "https://www.providerrisk.com/Acord140.pdf", "sourceType": "policy-form", "jurisdiction": "US", "authorityLevel": "standards-body", "primary": true, "publishedDate": "unknown", "effectiveDate": "n/a", "accessedDate": "2026-08-31", "lastChecked": "2026-09-01", "updateCadence": "annually", "status": "superseded", "supportsClaims": [ "The footer of this form reads ACORD 140 (2007/09), ATTACH TO ACORD 125, and carries a 1985-2007 ACORD Corporation copyright line.", "Per building, the form collects CONSTRUCTION TYPE, number of open sides on the structure, PROT CL, number of stories, number of basements, year built, and total area.", "The form has a BUILDING IMPROVEMENTS block asking for WIRING YR, ROOFING YR, PLUMBING YR, HEATING YR, and OTHER YR, plus BLDG CODE GRADE, TAX CODE, ROOF TYPE, and OTHER OCCUPANCIES fields.", "The form collects DISTANCE TO HYDRANT and FIRE STAT with FT and MI subheads, FIRE DISTRICT/CODE NUMBER, PREMISES FIRE PROTECTION (Sprinklers, Standpipes, CO2/Chemical Systems), % SPRNK, FIRE ALARM MANUFACTURER with CENTRAL STATION and LOCAL GONG options, and BURGLAR ALARM TYPE with CERTIFICATE #, EXPIRATION DATE, CENTRAL STATION, EXTENT, GRADE, and number of guards or watchmen.", "The form collects RIGHT, LEFT, FRONT, and REAR EXPOSURE & DISTANCE, and has a WIND CLASS field with SEMI-RESISTIVE and RESISTIVE options.", "The form directs that business income and extra expense information attaches on ACORD 810 and value reporting information attaches on ACORD 811.", "The form's general fraud warning paragraph reads: ANY PERSON WHO KNOWINGLY AND WITH INTENT TO DEFRAUD ANY INSURANCE COMPANY OR ANOTHER PERSON FILES AN APPLICATION FOR INSURANCE OR STATEMENT OF CLAIM CONTAINING ANY MATERIALLY FALSE INFORMATION, OR CONCEALS FOR THE PURPOSE OF MISLEADING INFORMATION CONCERNING ANY FACT MATERIAL THERETO, COMMITS A FRAUDULENT INSURANCE ACT, WHICH IS A CRIME AND SUBJECTS THE PERSON TO CRIMINAL AND [NY: SUBSTANTIAL] CIVIL PENALTIES.", "That same paragraph is followed by the parenthetical: Not applicable in CO, FL, HI, MA, NE, OH, OK, OR or VT; in DC, LA, ME, TN, VA and WA, insurance benefits may also be denied.", "The form carries separate substitute fraud-warning paragraphs for Florida and for Massachusetts, Nebraska, Oregon, and Vermont." ] }, { "id": "tfpa-commercial-poa-underwriting-manual", "title": "Texas FAIR Plan Association Commercial Property Owners Association Program Underwriting Manual", "publisher": "Texas FAIR Plan Association", "url": "https://www.texasfairplan.org/wp-content/uploads/TFPA-Commercial-Property-Owners-Association-Program-Underwriting-Manual.pdf", "sourceType": "official-documentation", "jurisdiction": "TX", "authorityLevel": "carrier-official", "primary": true, "publishedDate": "unknown", "effectiveDate": "unknown", "accessedDate": "2026-08-31", "lastChecked": "2026-08-31", "updateCadence": "Revised periodically; page footers throughout the verified copy read 3/10/2025.", "status": "active", "supportsClaims": [ "The manual's Introduction states that the Texas FAIR Plan Association was established by Insurance Code Chapter 2211.", "This manual governs the Association's Commercial Property Owners Association program, and the eligible classes it lists are Residential Condominium Associations and Homeowner Associations.", "The manual's Submission Requirements for Quote list an eligible class of Commercial Property, a declination of coverage from two standard market carriers (noting that cancellation or nonrenewal by an authorized insurer may count as a declination), Covenants, Conditions and Restrictions, a Statement of Values for all buildings and structures, a replacement cost valuation for each building or structure using MSB or another acceptable valuation method or tool, and Loss Reports for the last 5 years.", "The manual states that roofs must meet certain insurability standards and that risks with existing damage or deteriorated roofs may not be acceptable for coverage, and it lists common warning signs for composition shingle, wood, and flat roof surfaces.", "The manual states that sprinkler systems must be maintained and working.", "The manual states that an underwriting report will be requested on each application in order to determine eligibility." ] }, { "id": "ca-ins-code-679-7", "title": "California Insurance Code section 679.7 (premium and loss history report)", "publisher": "California Legislative Information (California Legislature)", "url": "https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=INS§ionNum=679.7", "sourceType": "statute", "jurisdiction": "CA", "authorityLevel": "primary-law", "primary": true, "publishedDate": "unknown", "effectiveDate": "n/a", "accessedDate": "2026-08-31", "lastChecked": "2026-08-31", "updateCadence": "Statute; changes only by legislative amendment. Check leginfo for the current version.", "status": "active", "supportsClaims": [ "The section requires an insurer, on written request from the insured or the agent or broker of record, to provide a premium and loss history report in the circumstances the section lists, which include cancellation, nonrenewal, a request within 60 days before renewal, a drop in the insurer's rating below the stated levels, and the insurer being conserved or ordered to cease writing.", "The report must cover the account's tenure or the three-year period ending with the inception of the current policy period, whichever is shorter, plus losses in the current period.", "The report must include a list of individual claims detailed by date of claim and total incurred and paid losses.", "The report must be provided within 10 business days of receiving the request.", "The section applies only to policies of commercial insurance that are subject to Insurance Code sections 675.5 and 676.6, except for professional liability insurance.", "The requirement does not apply where the policyholder is provided direct, ongoing access to claims information by the insurer." ] }, { "id": "or-admin-code-836-080-0810", "title": "Or. Admin. Code 836-080-0810, Provision of Commercial Loss Runs", "publisher": "Cornell Legal Information Institute (reproduction of the Oregon Administrative Rules)", "url": "https://www.law.cornell.edu/regulations/oregon/Or-Admin-Code-SS-836-080-0810", "sourceType": "regulation", "jurisdiction": "OR", "authorityLevel": "secondary", "primary": false, "publishedDate": "unknown", "effectiveDate": "n/a", "accessedDate": "2026-08-31", "lastChecked": "2026-08-31", "updateCadence": "Administrative rule; amended through Oregon rulemaking. Verify the current text in the Oregon Administrative Rules Database maintained by the Oregon Secretary of State.", "status": "active", "supportsClaims": [ "The rule requires property and casualty insurers or their appointed producers of record to make loss runs available to current and prior commercial policyholders within 15 calendar days upon request.", "The insurer must provide five years of loss runs, or, if the commercial policyholder has been insured with that insurer for less than five years, for the entire period the policyholder has been insured with that insurer.", "Loss runs related to workers' compensation insurance must not include confidential worker medical and vocational claim records pursuant to ORS 656.360 and 656.362.", "Violation of the rule is an unfair trade practice for the purpose of ORS 746.240." ] }, { "id": "or-oar-836-080-0810-public-law", "title": "OAR 836-080-0810, Provision of Commercial Loss Runs", "publisher": "Public.Law (OregonLaws reproduction of the Oregon Administrative Rules)", "url": "https://oregon.public.law/rules/oar_836-080-0810", "sourceType": "regulation", "jurisdiction": "OR", "authorityLevel": "secondary", "primary": false, "publishedDate": "unknown", "effectiveDate": "n/a", "accessedDate": "2026-08-31", "lastChecked": "2026-08-31", "updateCadence": "Administrative rule; amended through Oregon rulemaking. Verify the current text in the Oregon Administrative Rules Database.", "status": "active", "supportsClaims": [ "This reproduction carries the same rule title, Provision of Commercial Loss Runs, and the same operative text as the Cornell reproduction: loss runs made available to current and prior commercial policyholders within 15 calendar days upon request, five years of loss runs or the entire period insured if shorter, the workers' compensation confidential record exclusion under ORS 656.360 and 656.362, and violation as an unfair trade practice for the purpose of ORS 746.240." ] }, { "id": "verisk-ppc-program", "title": "ISO's Public Protection Classification (PPC) Program, How the Program Works", "publisher": "Verisk (ISO Community Hazard Mitigation Services)", "url": "https://www.isomitigation.com/ppc/program-works/", "sourceType": "official-documentation", "jurisdiction": "US", "authorityLevel": "standards-body", "primary": true, "publishedDate": "unknown", "effectiveDate": "n/a", "accessedDate": "2026-08-31", "lastChecked": "2026-08-31", "updateCadence": "Living program page; PPC grades for individual fire protection areas are re-evaluated over time.", "status": "active", "supportsClaims": [ "Class 1 generally represents superior property fire protection, and Class 10 indicates that the area's fire suppression program does not meet Verisk's minimum criteria.", "The classification evaluates emergency communications systems, including facilities for the public to report fires, staffing, training, certification of telecommunicators, and facilities for dispatching fire departments.", "It evaluates the fire department, including equipment, staffing, training, and geographic deployment of fire companies.", "It evaluates the water supply system, including the inspection and flow testing of hydrants and an evaluation of the amount of available water compared with the amount needed to suppress fires.", "It evaluates community efforts to reduce the risk of fire, including fire prevention codes and enforcement, public fire safety education, and fire investigation programs.", "Most U.S. insurers of home and business properties use PPC in calculating premiums, and in general the price of insurance in a community with a good PPC is lower than in a community with a poor PPC, assuming all other factors are equal." ] }, { "id": "irmi-iso-building-construction-categories", "title": "Building construction categories (ISO), insurance glossary definition", "publisher": "International Risk Management Institute (IRMI)", "url": "https://www.irmi.com/term/insurance-definitions/building-construction-categories-(iso)", "sourceType": "secondary-analysis", "jurisdiction": "US", "authorityLevel": "secondary", "primary": false, "publishedDate": "unknown", "effectiveDate": "n/a", "accessedDate": "2026-08-31", "lastChecked": "2026-08-31", "updateCadence": "Glossary entry; updated by the publisher as terminology changes.", "status": "active", "supportsClaims": [ "IRMI's glossary states that these categories were established by Insurance Services Office, Inc. (ISO) in its Commercial Lines Manual for purposes of developing rates for insuring commercial property based on susceptibility to damage by fire.", "IRMI lists six categories from least to most fire resistive with their construction codes: frame (1), joisted masonry (2), noncombustible (3), masonry noncombustible (4), modified fire resistive (5), and fire resistive (6)." ] }, { "id": "ca-ccr-title-19-901", "title": "Cal. Code Regs. tit. 19, section 901, Scope (automatic fire extinguishing systems; NFPA 25 incorporation and amendments)", "publisher": "Cornell Legal Information Institute (reproduction of the California Code of Regulations, Title 19, Office of the State Fire Marshal)", "url": "https://www.law.cornell.edu/regulations/california/19-CCR-901", "sourceType": "regulation", "jurisdiction": "CA", "authorityLevel": "secondary", "primary": false, "publishedDate": "unknown", "effectiveDate": "n/a", "accessedDate": "2026-08-31", "lastChecked": "2026-08-31", "updateCadence": "Regulation; the incorporated NFPA 25 edition changes only when California adopts a newer edition, so confirm the currently adopted edition before relying on it.", "status": "active", "supportsClaims": [ "Section 901 is titled Scope and states that these regulations apply to all automatic fire extinguishing systems identified in Health and Safety Code Section 13195.", "Section 901 incorporates NFPA 25, Inspection, Testing, and Maintenance of Water-Based Fire Protection Systems (2011 edition), including Annexes A, B, C, D, F and G, as amended by the Office of the State Fire Marshal.", "Within section 901, NFPA 25 section 4.3.1 is amended to read that records shall be made for all inspections, tests, and maintenance of the system and its components and shall be maintained by the property owner or designated representative at a site or location agreed upon by the AHJ.", "Within section 901, NFPA 25 section 4.3.5 is amended to read that subsequent records shall be retained for a period of 5 years after the next inspection, test, or maintenance of that type required by the standard.", "Section 901 identifies who may perform inspection, testing, and maintenance, including a California Contractors State License Board licensed Fire Protection Contractor (C-16), a California State Fire Marshal licensed Type 1 concern, and a California State Fire Marshal licensed Type L concern, and it allows certain inspections by an employee designated by the building owner or occupant who has developed competence through training and experience." ] }, { "id": "hylant-loss-runs", "title": "Coverage Insights: What Are Loss Runs?", "publisher": "Hylant Group, Inc. (insurance brokerage)", "url": "https://hylant.com/insights/blog/coverage-insights-what-are-loss-runs", "sourceType": "secondary-analysis", "jurisdiction": "US", "authorityLevel": "secondary", "primary": false, "publishedDate": "unknown", "effectiveDate": "n/a", "accessedDate": "2026-08-31", "lastChecked": "2026-08-31", "updateCadence": "Blog post; not revised on a published schedule.", "status": "active", "supportsClaims": [ "Hylant, an insurance brokerage, writes that underwriters will often require organizations to submit loss runs for the past three to five years." ] }, { "id": "hedge-specialty-submission-checklist", "title": "Commercial Insurance Submission Checklist", "publisher": "Hedge Specialty (Taven Insurance Services LLC dba Hedge Specialty), a wholesale insurance brokerage", "url": "https://www.hedgespecialty.com/commercial-insurance-submission-checklist", "sourceType": "secondary-analysis", "jurisdiction": "US", "authorityLevel": "secondary", "primary": false, "publishedDate": "unknown", "effectiveDate": "n/a", "accessedDate": "2026-08-31", "lastChecked": "2026-08-31", "updateCadence": "Marketing and education page on the firm's own site; no published revision schedule.", "status": "active", "supportsClaims": [ "The page describes Hedge Specialty as a wholesale insurance brokerage helping licensed retail professionals prepare and place difficult commercial risks.", "Its checklist tells the preparer to complete the primary commercial application and the line-specific sections accepted by the intended market.", "Its checklist tells the preparer to provide currently valued loss runs for the relevant entities, lines, and policy periods when available.", "Under line-specific supporting records, it lists for Property: statement of values, construction and system updates, protection details, business income support, and useful current photos.", "The page states of itself: Preparation is not release authority. This is a preparation checklist, not a universal market requirement." ] } ], "relatedQuestions": [ { "id": "replacement-cost-vs-market-value", "url": "https://bestinsuranceresearch.com/questions/replacement-cost-vs-market-value" }, { "id": "lender-insurance-requirement", "url": "https://bestinsuranceresearch.com/questions/lender-insurance-requirement" }, { "id": "workers-comp-class-codes", "url": "https://bestinsuranceresearch.com/questions/workers-comp-class-codes" } ] }