FAQ ID # 120

ItcDataServices.com

Last Update : 2009/09/03
Rating : Not Rated
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Question / Issue
How does the program determine First Loss rating?

Answer / Solution

First Loss rate determination:

  1. First Loss rating is only determined on the building and not Contents or Business Income and Extra Expense.
  2. 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).
  3. The Policy Structure entry will change to First Loss (other excess exists).
  4. The Policy Structure entry field can not be modified since it is determined by the value entries for the building.

Attachments
First Loss rating entry.pdf (9.0Kb)


Direct Link to This FAQ
http://www.itcdataservices.com/support/trfaq/?f=120

Tags
First loss rating Policy structure
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