AmTrust BOP Manual - AmTrust North America

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
There is not any deductible applicable to loss under;
Business Income
Extra Expense
Civil Authority
Fire Department Service Charge
Fire Extinguisher Systems Recharge Expense
LOSS HISTORY
A currently valued loss history may be required for some risks, otherwise agents should
obtained one on every risk for their client files
POLICY COMPLIANCE
The company at our discretion has the implied authority to verify the correctness of information
that is used in the underwriting and pricing of all exposures by whatever means we deem
appropriate.
The company in its sole opinion will make a determination and cause to change any policy
section to bring it into compliance with our filed rates, forms or state provisions.
NON-PAYMENT OF PREMIUM
First cancellation:
o
A reinstatement request will usually be honored if sufficient payment is received prior to
the effective date of the cancellation.
Lapse in Coverage:
o
o
The UW must approve first cancellation reinstatement requests, which are received
after the effective date of cancellation.
A “Statement of No Losses” must be completed and signed by the insured.
Subsequent Cancellations
o
All subsequent cancellations are final.
NON-RENEWALS
Any non-renewal will be done in accordance with all applicable state statutes or emergency
orders.
AmTrust Financial Services, Inc. 12.15.10 Page 4