Kent Wholesale Insurance Brokers headquartered in Portland, Ore., is providing DIC including earthquake and flood coverage on admitted paper for Oregon and Washington risks.
The product is rated in-house, and indications are provided immediately (bindable upon acceptable soil conditions).
Minimum premium is $5,000 with capacity up to $10 million. There is no story limitation. The parameters are as follows: Oregon and Washington only; TIV’s must be 85 percent post 1975, with remainder no earlier than 1950. Carrier will confirm soil conditions within 24 hours.Flood zone will be verified if coverage is requested.
Deductible options of 5 percent or 10 percent of the total insurable values per unit of insurance per building at time of loss for the peril of EQ and Flood, $50,000 minimum per occurrence. $ 25,000 AOP are available.
Coverage is being offered by an “A-” VIII rated admitted carrier. Coverages include: building ordinance coverage of $500,000; $100,000 each for outdoor signs, valuable Papers and accounts receivables; business interruption coverage for ingress and egress – 30 days; 25 percent of the direct physical loss amount for debris removal; 10 percent of business interruption values, for off premise, power failure-no mile limitation.
Exclusions include: flood in zone A or V, electronic, cyber risk exclusion, mold exclusion date recognition endorsement, pollution/contamination, sewer back-up and earthquake sprinkler leakage. Sublimits do not increase overall limit of liability.
For more information, contact: Augustus (Gus) Kent, KWIB LLC at 503-291-1064. Web site: www.kentins.com.
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