Best practices for determining TI and BPP in a BOP?
Posted: Wed Jun 17, 2009 11:01 am
Coming from personal lines with the majority of my property risks being owner occupied, and having proprietary software to calculate reconstruction cost, I was comfortable in my coverage levels.
My experience in commercial lines, thus far, has been that the majority of my risks are lessees, requiring only TI and BPP. When I'm writing these risks I've been using either, prior policies and coverages (when available), insured’s estimate, or a personal estimate after a quick inspection of the premises. As a "professional" I'm just not comfortable relying on previous agent info or my ability to estimate proper levels of coverage accurately.
Does anybody have some general guidelines/best practice suggestions for determining TI/BPP coverage levels?
Thanks!
My experience in commercial lines, thus far, has been that the majority of my risks are lessees, requiring only TI and BPP. When I'm writing these risks I've been using either, prior policies and coverages (when available), insured’s estimate, or a personal estimate after a quick inspection of the premises. As a "professional" I'm just not comfortable relying on previous agent info or my ability to estimate proper levels of coverage accurately.
Does anybody have some general guidelines/best practice suggestions for determining TI/BPP coverage levels?
Thanks!