Roof Talks: Roofing Solutions for the Property and Casualty Insurance Industry
When a storm damages a business’s roof, does this automatically trigger a roof replacement? For the property owner, the cost of the roof protection policy and deductibles often mean replacing the entire roof is the only choice.
Rick Lewis, president and CEO of Fortis Warranty, believes there are better, more cost-effective options available. Lewis said that with the current P&C (property and casualty) model, it is unsustainable from the carrier end to assume roof damage risk. Policyholders don’t have the cash to replace roofs every two years.
“Fortis believes we are in a unique position to satisfy the need and to fill that gap in the market where the policyholder is essentially self-insured,” Lewis said. “We’ve got an option for them that would save them approximately 60-70% of a full roof replacement.”
Lewis pointed out there is little difference between the defect characteristics between a storm-damaged roof and an aged roof. An extended warranty and roof conditioning approach could save a property owner money in not having to replace a roof prematurely.
The approach to determining a roof’s longevity and repair need starts with a process in the lab. With industry research showing that a roof’s longevity, under the right conditions, will last beyond manufacturer’s 15-20-year recommendation, Fortis commits to an approach that gets the policyholder the most out of their roof without unnecessary replacements.
“We use lab testing and our processes to identify the requirements to bring any roof defects up to performing condition,” Lewis said.
For the latest news, videos, and podcasts in the Building Management Industry, be sure to subscribe to our industry publication.
Follow us on social media for the latest updates in B2B!
Twitter – @MarketScale
Facebook – facebook.com/marketscale
LinkedIn – linkedin.com/company/marketscale
Latest
Mastering AV Sales Strategies: A Diverse Market Requires Understanding Individual Needs
Mastering AV sales strategies in a global professional audio-visual (Pro AV) market, poised to reach $79.2 billion by 2028, requires much attention to detail. The surge in demand from corporate, government, and institutional sectors, driven by the need for enhanced productivity and efficient working environments, gives AV sales pros a lot of opportunity. In […]
Cybersecurity in Healthcare: Addressing the Growing Threat
To keep up with the growing threats, cybersecurity in healthcare is a high-level priority. The recent ransomware attack on Ardent Health underscores a stark reality for the healthcare industry: cyber threats are a significant and ongoing challenge. Mike Saylor, the CEO of Blackswan Cybersecurity, LLC, sheds light on the complexities of cybersecurity in healthcare. […]
Effective Debt Management Holds the Keys to Small Business Cash Flow and Growth
Effective debt management through a robust accounts receivable system is essential for small business cash flow and growth, necessitating automated payment schedules and strategic policy adjustments. Collaborating with a collection agency as a strategic partner can enhance revenue recovery while preserving positive customer relationships. How critical is effective debt management for the financial health […]
