Builders Risk with Wind 1/2 from Coast - Underwriting Wind Update

7.23.19

Builders Risk Wind Guideline Update

 

UNDERWRITING GUIDELINE UPDATE:
Territory: All States
Effective Date: 07.22.2019

 

SUMMARY OF CHANGES:

  • We removed the 1,000 ft. Rule from the wind guidelines entirely.
  • Referral TIV limit has been increased to $4M. You will no longer need to have underwriting review for risks at TIV of $1M.

GUIDELINE UPDATE:
Windstorm or Hail Guidelines

  • Wind is excluded when located 1/2 mile* from Gulf or Ocean
  • Risks $4M TIV or more will be reviewed by underwriting for approval and/or pricing

*Note: You will need to determine if the risk meets the 1/2 mile from Gulf or Ocean. If the risk is not within the new wind guidelines, the policy could result in corrective action after issuance.

 

  UPDATED REFERENCE GUIDE  
 

Please don't hesitate to reach out to your underwriter if you have further questions.

Contact Information:

Amanda Quinn (NC, SC, LA, TX)
800.627.0000 x 4574
Amanda.Quinn@bankersinsurance.com

Megan Burnette (Florida)
800.627.0000 x 4534
Megan.Burnette@bankersinsurance.com

Robin Snell
Builders Risk Product Manager
800.627.0000 x 4576
Robin.Snell@bankersinsurance.com

We truly value our partnership and your loyalty to Bankers Insurance Group.

Your Bankers Sales Team
BankersMarketing@bankersinsurance.com
800.627.0000 x 4900