IBAO: Promoting Insurance To Value – Commercial Accounts

(2 Technical Hours) 70% of commercial buildings are under-insured by up to 40% the replacement cost value. What is the broker’s liability in a case of under-insurance? Learn the impact of bylaws and building codes, and the instances tenants must insure buildings.

OBJECTIVES:

* Learn the underinsurance zones of a typical Commercial account
* Understand actual cash value, replacement cost, functional replacement cost and co- insurance including stated amount co-insurance
* Learn the difference between re-construction and new build
* Understand selling insurance to value including E&O concerns