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Builders Risk News Roundup: June 2022
May 31, 2022
For this month's edition of our Product News Roundup, check out the these noteworthy tips to help you sell and service construction clients with confidence.
Protection Class Search Tool
A new integrated tool is now available to help you identify the public protection class (PPC). After entering the project address within our application, this third-party resource will automatically search for the PPC and populate the information for you if a match is found.
License Requirement at Issuance
Effective May 1, 2022, your office must provide the National Producer Number (NPN) for your agency and producing agent in order to issue builders risk and contractors equipment policies.
Access to Submissions in Progress
You can now take control and make changes to builders risk submissions in progress that were previously submitted by another agency representative as long as your accounts are registered under the same producer code.
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See you next month when we deliver with another roundup of product news. Until then, you can leverage our resource center to boost your knowledge even more.
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Do you know the differences between a named insured, additional name insured and additional insured?
When a covered cause of loss occurs, the claims payment check will be issued to all named and additional insureds, as well as lenders, and each will be required to sign it in order to receive funds.
Check out these definitions to ensure you understand the full impact of each insured type.
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