Ordinance or Law: When (and Why) Partial Losses Become Total Losses

Overview

In this guide, you will gain a comprehensive review of ordinance or law coverage:

  • Purpose of ordinance or law coverage
  • Coverage gaps creating the need for ordinance or law coverage
  • Sources & enforcement of building codes
  • When damage is considered “major”
  • Common ordinance or law requirement & coverage limitations
  • 3 Commercial property ordinance or law coverage forms
  • Ordinance or law coverage (CP 04 05)
  • Increased period of restoration (CP 15 31)
  • How to develop ordinance or law premium.

This webinar transcript is presented by Chris Boggs of the Big “I” Virtual University.  

Christopher Boggs, CPCU, ARM, ALCM, LPCS, AAI, APAChristopher J. Boggs, CPCU, ARM, ALCM, LPCS, AAI, APA, CWCA, CRIS, AINS

Executive Director, Big I Virtual University

Chris Boggs is the Executive Director of the Independent Insurance Agents and Brokers of America (Big “I”) Virtual University. His current duties involve researching, writing, and teaching property and casualty insurance coverages and concepts to Big “I” members and others in the insurance industry. During his career, Boggs has authored more than 1,000 insurance and risk management-related articles on a wide range of topics as diverse as Credit Default Swaps, the MCS-90, and enterprise risk management. In addition to this, Boggs has written 15 insurance and risk management books.