East Coast Earthquake Remind Us - Everyone Is Vunerable
Wednesday's 5.9 quake that shook office buildings and homes and rattled residents from North Carolina to as far away as Ottawa, Canada, is a sobering reminder that earthquakes can happen anytime and anywhere.
IBA West members have the opportunity to educate their clients on the financial liability of not securing earthquake insurance coverage for their properties and offering them a product that stands well above the competition.
IBAWest's Commercial Property Earthquake Program, offered through Swett & Crawford, and Alterra Excess & Surplus Insurance Co. last week announced new improvements that beat the compeition.
- The maximum limit and values have been increased to $3,000,000!
- The program is now able to accept Frame Construction & All Other Construction buildings built 1950 or later.
- Tilt-Up & Reinforced Concrete Block Construction dates will remain 1974 or later.
- Older retrofitted buildings may be accepted on a submit basis with the proper documentation.
- Additionally, we will now accept Habitational Structures with 2 units or more (previously 4 units).
- The previously required 5 day waiting period to bind coverage for new business has been removed!
- New business will be effective on the day of receipt of the application and premium, unless a later date is requested.
- All California counties are open for business! Due to the unprecedented seismic activity in California in 2010-2011, we encourage you to remind your insureds that complacency is their worst enemy. Please take the opportunity to discuss the necessity of proper coverage with them.
- Program Administrator at Swett & Crawford is happy to answer any questions at 415-912-3525.
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