Question / Issue |
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How does the program determine First Loss rating? |
Answer / Solution |
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First Loss rate determination:
- First Loss rating is only determined on the building and not Contents or Business Income and Extra Expense.
- If you enter a building amount in the 100% valuation entry field over $2,500,000, the program will automatically enter $2,500,000 maximum value in the Limit entry field (this is the maximum value that Citizens will insure to).
- The Policy Structure entry will change to First Loss (other excess exists).
- The Policy Structure entry field can not be modified since it is determined by the value entries for the building.
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