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Based on direct feedback from our agency partners, we are pleased to announce the addition of a new coverage form for Commercial Property. The introduction of this form will expand the ways in which we can service you and your best clients.
Effective September 15, 2022 for New Business and October 1, 2022 for Renewal Business, Form CP1036 - Limitations on Coverage for Roof Surfacing, will be available for all Commercial Package Policies.
This new coverage form will allow for flexibility in offering Replacement Cost on structures while reducing coverage on the roof itself to Actual Cash Value. This form also allows for exclusion of cosmetic damage to roofs caused by wind and/or hail*. Both options can be leveraged for risks with older roofs, or those that are difficult to place due to location or claims history. Moving forward, new business submissions featuring risks with non-metal roofs over 20 years in age will be evaluated by underwriting on a case-by-case basis to determine whether or not this form will apply.
Should you have any questions about this form, or how to add it during the quote or endorsement process, please reach out to your underwriter.
*NOTE: The option to exclude cosmetic damage to roofs caused by wind and/or hail is NOT available in the state of Indiana.
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