What We Review
TFS documents the vacancy and renovation exposures that matter most to
underwriters, carriers, MGAs, and agents.
Vacancy History & Future Plans
- Length of vacancy
- Whether the building has been vacant more than 2 years
- Plans for the building or unit
- Whether the applicant plans to occupy after construction
- Expected use and project timing
- General property strategy moving forward
Security & Property Protection
- Building security procedures
- How often the building is checked
- Whether checks occur less frequently than quarterly
- Electricity and water status
- General vacancy protection controls
- Risk management approach while the building is vacant
Construction & Renovation Exposure
- Demolition or construction activity
- Expected start and completion dates
- Estimated cost of renovations in the next 12 months
- Project description and who is completing the work
- Certificates of insurance from contractors and subcontractors
- Written contracts, additional insured status, and scaffolding exposure