Builders Risk News Roundup: February 2023
Check out these three builders risk policy tips. Then, sign up today for instant access to our “A” rated product in your state with no volume commitment.
1) Policy Cancellation Request
To cancel a policy, submit an ACORD 35 form via email. If you don’t have access to the form through your organization, you can find a standard copy by searching online.
2) Pro-Rata Eligibility
In most states, policies are fully earned for residential projects, as well as commercial accounts under $1M. However, pro-rata cancellations may be permitted based on state requirements or underwriting guidelines. For more information, contact our Service team at (800) 800 - 3907.
3) Policy Reinstatement
In some scenarios where the premium payment was late or missed, a policy reinstatement can be considered if coverage is needed. This will require you to submit a completed Statement of No Loss letter from the policyholder.
See you next month when we deliver another roundup of product news. Until then, you can find more training tools for you and your team in our resource center.
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Check out these details about insuring modular construction. Then, sign up today for instant access to our “A” rated product in your state with no volume commitment.
A safety net for increasing material costs is now available! US Assure is expanding the eligibility for the inflation guard endorsement to the Builders Risk Plan insured by Zurich.
Read this PC360 article from our president about the growing opportunities in the construction industry despite inflation and supply chain lags.
Explore US Assure’s newly renovated website and provide us with your feedback.