May 3, 2010
TO: ALL OUR PROPERTY BROKERS
RE: SIUManagers – DIFFERENCE IN CONDITIONS (DIC) FACILITY
Dear Friends:
We are very excited to announce an increase in capacity!
We may now offer up to $30,000,000 in policy limits on our QBE Specialty Insurance Company products.
Also, we have updated our minimum value requirements for Replacement Cost coverage. Attached is a copy of our new requirements for your reference. Of course, we will still accept a Marshall Swift or other valid form of building valuation or copies of the last three years’ fire insurance policy showing the limits and values.
We hope that you will find these changes beneficial to your marketing and production efforts.
We have made every effort to provide quality products, excellent service, and integrity in our underwriting. Should you have any questions please do not hesitate to contact me or one of our underwriters.
Sincerely,
Angela C. Urrutia
Executive Vice President
Minimum required values for Replacement Cost (Without valid Valuation Documentation)
Earthquake Zones A, B, C & D:
| Description |
Class |
Code |
Minimum Price/Sq Ft |
| Wood Frame – Dwellings |
D |
1A, 1B,1C, 1D |
420.00 |
| Wood Frame |
D |
1A, 1B,1C, 1D |
160.00 |
| All Metal |
S |
2A & 2B |
55.00 |
| Steel Frame |
A |
3A, 3B, 3C |
210.00 |
| Reinforced Concrete |
B |
4A, 4B, 4C & 4D |
190.00 |
| Mixed Construction |
C |
5A, 5B & 5C |
130.00 |
| Tilt-up |
C |
5AA |
80.00 |
| Engineered EQ Resistive |
A |
6 |
315.00 |
Earthquake Zone E:
| Description |
Class |
Code |
Minimum Price/Sq Ft |
| Wood Frame – Dwellings |
D |
1A, 1B,1C, 1D |
335.00 |
| Wood Frame |
D |
1A, 1B,1C, 1D |
125.00 |
| All Metal |
S |
2A & 2B |
45.00 |
| Steel Frame |
A |
3A, 3B, 3C |
170.00 |
| Reinforced Concrete |
B |
4A, 4B, 4C & 4D |
150.00 |
| Mixed Construction |
C |
5A, 5B & 5C |
105.00 |
| Tilt-up |
C |
5AA |
65.00 |
| Engineered EQ Resistive |
A |
6 |
250.00 |
Earthquake Zones F, G & H and Non-California
| Description |
Class |
Code |
Minimum Price/Sq Ft |
| Wood Frame – Dwellings |
D |
1A, 1B,1C, 1D |
275.00 |
| Wood Frame |
D |
1A, 1B,1C, 1D |
105.00 |
| All Metal |
S |
2A & 2B |
40.00 |
| Steel Frame |
A |
3A, 3B, 3C |
135.00 |
| Reinforced Concrete |
B |
4A, 4B, 4C & 4D |
125.00 |
| Mixed Construction |
C |
5A, 5B & 5C |
85.00 |
| Tilt-up |
C |
5AA |
55.00 |
| Engineered EQ Resistive |
A |
6 |
210.00 |
Posted on
Mon, May 3, 2010
by Angela C. Urrutia