If you have an older building that is not up to the current building codes and a covered cause of loss occurs, you may have to provide upgrades to your facility to comply with the current building codes. The building codes could require you to install a fire sprinkler and alarm system, update electrical and plumbing, install elevators, remove asbestos, and make your building ADA compliant.
Ordinance and Law coverage is designed to provides insurance coverage to a facility in the event of these code changes.
Coverage under the LGPIF form has been reduced to $2,000,000. Previously, coverage was provided up to the total values on the policy.
At R&R Insurance, we have the ability to help you evaluate your exposure. We know how to research and read the NFIP – FIRM data. We can help you understand your exposure and offer alternative solutions. Contact me today to ensure your facility is properly insured.
- Restrictions on Flood Coverage
- Restrictions on Surface Water Coverage
- Addition of an Anti-Concurrent Causation Coverage Restriction