Tom Wilson, president of WKF&C Agency, Inc., has announced that his firm will be offering earthquake deductible buybacks from an A.M. Best-rated “A” admitted carrier. With all construction types entertained, this coverage has a minimum premium of $2,500 with limits up to $500,000. Minimum retention is 1 percent of the property value or $5,000, whichever is greater. Premiums are based on the covered structure’s age, construction, location, soil conditions and other factors. Eligible risks include, but are not limited to: apartments, office and industrial buildings, private schools, residential, shopping centers, and malls.
“We’re excited to offer this new coverage, which will cover the deductible of a commercial or residential earthquake insurance policy,” said Wilson. According to Wilson, the coverage is currently available in California, Oregon and Washington.
WKF&C Agency Inc. is a New York-based MGA in the excess and surplus lines marketplace.
Source: WKF&C Agency Inc., www.wkfc.com
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