AmTrust BOP Manual - AmTrust North America

APPLICATIONS and PHOTOGRAPHS
An application must be completed and maintained in each policy file for Agent records. An
electronically transmitted application can be maintained in lieu of a paper copy. Applications may be
required for risks referred to Underwriters.
Minimum of two photographs are required for each risk written. These photographs must be
maintained in the company underwriting file.
MINIMUM PREMIUM and RATING INFORMATION
The minimum premium charge is $500 per policy. Necessary rating information; ISO Fire Protection
Class, Territory, Building and Content value when applicable, annual gross receipts, amount and type
of Optional Coverage desired, annual gross liquor receipts where applicable, and the number of
employees per location.
PAYMENT PLANS
As of the date of this manual all BOP payment plans are directly billed to the insured including the
downpayment. Current payment plans range from pay in full to a 10 payments and include an EFT
(Electronic Funds Transfer). None of the payment plans charge any fees. Please see
http://www.amtrustnorthamerica.com/Payment-Options/Default.aspx for more details including
addresses for mailing any payments that may have been collected by agents.
Billing is all direct to the insured. Any payments for all lines on a common account are automatically
bundled into a common invoice.
NON-PAYMENT OF PREMIUM
First cancellation: A reinstatement request will usually be honored if sufficient payment is received
prior to the effective date of the cancellation. All subsequent cancellations are final.
Lapse in Coverage: The UW must approve first cancellation reinstatement requests, which are
received after the effective date of cancellation and a “Statement of No Losses” must be completed
and signed by the insured.
DEDUCTIBLES
The base property deductible is $500 per location, with options of $250, $1,000, $2,500. Deductible
applies to all Building and Business Personal Property Coverages, both mandatory and optional with
the exception of Business Income, Extra Expense, Civil Authority, Fire Department Service Charge,
and Fire Extinguisher Systems Recharge Expense.
CERTIFICATES OF INSURANCE
You may issue an Acord Certificate of Insurance (COI) for any insured as long as there is not any
extraneous language or strike-outs and you keep a copy in your customer file – we do not require that
you send us a copy.
AmTrust Financial Services, Inc. Edition Date 6-24-2011 Back to the Contents Page Page 4