HAI Group Introduces New Property Insurance Policy
Previous issues of INSITE presented HAI Group’s plans for a new property insurance policy, including evaluation of our in-house capabilities and those of outside vendors.
The new Commercial Output Program was recently introduced to members at HAI Group’s December Board meeting and includes the following features and benefits:
- One of the broadest and most flexible standard commercial insurance coverage policies available, with many built-in coverages including:
- Earnings, Rents, Extra Expense, Flood, and Earthquake coverage equal to 1% of the building limits, capped at $1 million (Flood and Earthquake is not provided in certain flood and earthquake-prone areas);
- Computers and mobile equipment are included in Business Personal Property, eliminating the need for separate coverage forms and limits;
- Flexibility to tailor coverage needs due to differences in building age, condition, and claim experience;
- It can be used for public and affordable housing, eliminating the need to support separate systems; and
- It will help reduce our expenses, while providing broader coverage for you.
Due to the complexities of the various state insurance department filing regulations, implementation will be phased in during 2008 and 2009. |
