City Homes Insurance Program (CHIP)

Appetite:

• Size: 2-100 units and can include ground floor mercantile
• Construction: joisted masonry or better, no age limit on building, subject to system upgrades
• Brick veneer in Denver, CO; Minneapolis and St. Paul, MN
• Frame in San Francisco, CA; Portland, OR; Seattle, WA; and Boston, MA (condos only)
• Classes: apartment buildings, condos, co-ops, brownstones, mixed use

Ineligible risks:

• Buildings with one unit or over 100 units with more than 50% sq. ft. of mercantile exposure
• Total insurable value (TIV) of over $25 million
• Frame constructions if not located on West Coast

Geography:

We are currently writing in select metro areas in the following states:

• CA, CO, DC, IL, MA, MD, MN, MO, NJ, OR, PA, WA

Submission requirements:

• Online application
• Underwriter review
• Loss runs for prior three years

Coverages offered:

• "All-risk" policy form unless the loss or damage is excluded or limited by other provisions
• Replacement cost
• Back-up of sewers and drains included
• Terrorism foreign/domestic (included automatically)
• Minimum All Other Perils (AOP) deductible of $1,000 with $2,500 water damage deductible; AOP deductible options up to $10,000
• Agreed amount endorsement
• Ordinance or law
  • Includes loss to undamaged portion of building
  • Additional limits for demolition cost
  • Additional limits for increased cost of construction
• Optional and flexible Flood and Earthquake coverage – sublimit applied and extended after underwriter review
• Equipment breakdown/building machinery, heating/cooling systems, miscellaneous electrical apparatus
• Crime endorsement available
• Optional Employee Benefits coverage
• Optional Non-owned and Hired Auto coverage

Coverage limits:

• Minimum All Other Perils (AOP) deductible of $1,000 with $2,500 water damage deductible; AOP deductible options up to $10,000
• TIV up to $25 million
• General Liability - $1 million per occurrence/$2 million aggregate on bodily injury, property damage, personal and advertising injury
• Personal Lines - $1 million per occurrence

Admitted or non-admitted paper:

• Admitted

Additional program highlights:

• Competitively priced package policy that includes coverage for equipment breakdown, back-up of sewer and drains, ordinance or law, A, B & C
• Electronic policy delivery
• Availability of Personal Lines forms for owner-occupied properties for contents coverage and additional liability coverage
• Automatic renewal process