Coverage Offered
- The Property Division can offer coverage for full limits, primary, buffer or excess of loss, depending on the individual account’s characteristics
Target Account Size
- Premiums of $17,500 - $250,000
Capacity
- Catastrophic perils (Windstorm or Earthquake): $5,000,000
- All other perils: $15,000,000
- Coverage is placed on a per occurrence basis
Deductibles
- Minimum AOP deductible for All Risk Property accounts is $5,000
- Minimum deductible for California Earthquake is 5% per unit subject to $100,000 minimum, can go as low
as 1% in certain zones
- Minimum deductible for Windstorm/Hail is 1/2% - 5% values at risk at the time of loss depending on the location of the risk in coastal areas
Risk Appetite
Targeted Classes of Business
- OLT exposures including: Habitational (apartments/condominiums) / Real Estate Accounts (including Frame Construction), Shopping Centers – Strip Mall and Stand Alone Structures, Office Buildings, Hotels/Motels, etc.
- Schools / Daycares
- Warehouse Risks
- Vacant Buildings
- Light Manufacturing Risks
- Florida Loss of Rents – risks in Central and Northern Florida Counties only
- Wind and Hail deductible buybacks
- Windstorm or Hail only
- D.I.C. Earthquake accounts located in California
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Ineligible Exposures
- Pre-1995 construction in Florida only (except in Nassau and Duval counties)
- EIFS construction for windstorm coverage
- Non-Combustible/Metal construction for windstorm coverage
Submission Requirements
A comprehensive cover letter including:
- Description of the risk and its operations
- Loss summary (preferably 5 years), including detailed explanation of claims valued over $20,000
- Expiring information – carrier, limit, deductible, premium, renewal status
- Desired limit
- Signed ACORD application with a complete list of all named insureds and their mailing addresses for clearance purposes, effective dates, along with construction, occupancy, protection, and exposure (C.O.P.E.) information (per building)
- Applicable supplements, brochures and / or website information
- Microsoft Excel spreadsheet that displays Statement of Values per location along with C.O.P.E. information
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