AmTrust BOP Manual - AmTrust North America

APARTMENTS, RESIDENTIAL CONDOMINIUMS and TOWNHOUSES ELIGIBILITY
(Appendix A lists specific Class Codes)
ISO Public Protection Classes – 1-7 are eligible, 8-10 must be submitted for approval
Number of locations – more than 4 locations must be submitted
Coastal Locations – within 25 miles of the Eastern Seaboard or 75 miles of the Gulf of Mexico are
ineligible
Years in Business – must have been in business for more than 1 year and any risks in business
less than 3 years must be submitted for approval
Losses – Risks with more than 3 losses, any weather loss over $25,000, or any non-weather loss
over $10,000 in the past 3 years must be submitted
Square Footage – No square footage limitation
Annual Gross Revenue – $6,000,000 maximum per location
Total Insured Value (TIV) – $6,000,000 total of buildings and personal property per location
Building Age – Greater than 20 years without COMPLETE updates to the heating, roof, electrical
and plumbing systems are ineligible
Construction – All construction types require complete automatic sprinkler systems and hardwired
fire/smoke detectors throughout and in each apartment
Height – No more than 3 stories
Units – No more than 20 units per building
Buildings – No more than 6 buildings per location
Eligible Occupancies – include mercantile (retail) and offices
Ineligible:
‣ Buildings more than 10% vacant for more than 60 days
‣ Family dwellings of less than 4 units or any boarding houses or rooms
‣ Framed buildings with values over $3,000,000
‣ Locations with boat docks or piers
‣ Locations with more than 1 swimming pool or that have diving boards, slides, uncontrolled
access or lack any life safety requirements
‣ Locations without a resident manager
‣ Locations without at least a 6 month lease with each tenant
‣ Restaurants occupancies make the entire building ineligible
‣ Sauna, steam-room or playgrounds
AmTrust Financial Services, Inc. Edition Date 6-24-2011 Back to the Contents Page Page 10