Insurance agents do a bad job of explaining the concept of "replacement cost." We tend to tell clients they will get new stuff for old junk and while that may be partially true, partial truths get you sued.
One roadblock to replacement cost is building codes or what we insurance practitioners refer to as ordinances or laws. Unendorsed policies offer only a VERY limited amount of coverage for the increased costs to rebuild due to these ordinances or laws, and when your insured is forced to pay these additional costs out-of-pocket, they are going to be mad!
LEARNING OBJECTIVES:- Learn the purpose of ordinance or law coverage;
- Learn coverage gaps creating the need for ordinance or law coverage;
- Learn sources and enforcement of building codes;
- Learn common ordinance or law requirements and coverage limitations;
- Learn ordinance or law coverage (CP 04 05);
- Learn ordinance or law - increased period of restoration (CP 15 31);
- Learn how to develop ordinance or law premiums;
- Learn ordinance or law example;
INSTRUCTOR
Christopher J. Boggs. Certifications include: CPCU, ARM, ALCM, LPCS, AAI, APA, CWCA, CRIS, AINS
CONTINUING EDUCATION
This webinar course is approved for 2 hours of Wisconsin continuing education credit. Attendees must be present during the webinar to receive CE credits.
REGISTRATION INFORMATION
Course fee is $56.00 for IIAW members, $80.00 for non-members.
After purchasing your ABEN webcasts, you will immediately receive a purchase confirmation that will contain instructions on testing your system and accessing your ABEN account. Additionally there will be 3 e-mail reminders sent out prior to the event; 1 week 1 day and 2 hours prior to the event! The same access instructions will be provided.
CANCELLATION POLICY
A registrant may reschedule a prior registration to another airing date of the class and if there is no other date that will work into your schedule, a refund can be processed. ABEN can also transfer your registration to someone else in your office. There is no penalty for these requests. All of these requests are handled directly by the CE21 Help Desk at 877-602-9877 or by e-mailing to help@aben.tv
