FAQ ID # 55 - When rating a Wind Only Commercial-Residential Condo or Apartment, why do I get an error message: "For first loss rating, the building amount of insurance must be less than 80% of the value"?

FAQ ID # 55

Last Update : 2009/09/03
Rating : Not Rated

Question / Issue

When rating a Wind Only Commercial-Residential Condo or Apartment, why do I get an error message: "For first loss rating, the building amount of insurance must be less than 80% of the value"?

Answer / Solution

First Loss rating error:

This means that your entry fields for Building Value and Building Amount of Insurance are not the same value and must be.
First Loss rating is only used for Commercial Non-Residential risks, not Commercial-Residential.

Direct Link to This FAQ

http://www.itcdataservices.com/support/trfaq/?f=55

Tags

First loss rating error