Insurance Training Course Catalog
Flood, Flood, or Flood: What Does the Insured mean when they report a "flood" and how do the coverage options respond?
Your insureds, the NFIP, ISO, AAIS and DIC policies each define “Flood” differently. What your insured considers a “flood” may simply be considered water damage in insurance language. But even ISO and AAIS manage “water damage” loss differently.
Real and personal property can have many "values," replacement cost, the amount the item could bring on the open market, what an expert thinks it is worth, what it actually costs to replace or rebuild, or the value an individual places on the property. Not all of these relate to insurance or the application of insurance coverage.
This class details the essential coverage provisions found in the two ordinance or law endorsements and demonstrates how this coverage can save your insureds (and you from an E&O perspective) hundreds of thousands of dollars in out-of-pocket expenses.