Sample Agenda Item New or Rewrite( please specify)
DEBRIS REMOVAL BROADENING ENDORSEMENT
BACKGROUND:
Many times, debris removal coverage is not adequate, especially on total losses. Also, different regions have higher debris removal costs than others. Currently, debris removal is 25 % of the amount of the loss but is not considered additional insurance. There is more than $ 10,000 coverage that is additional but that is not adequate most of the time.
SUGGESTED SOLUTION:
We need a broadening endorsement that could be purchased for an additional premium to make the 15 % debris removal as additional coverage. It would not have the 25 % limitation to the amount of the loss but would be a full 25 % of the property value for debris removal that could be used on any covered property loss. This endorsement would negate the policy provision that limits it to 25 % of the loss and also the $ 10,000 additional coverage, replacing it with coverage for the full 25 % if purchased. Also, this same endorsement would have the ability to increase the percentage from 25 % to higher percentages. In this way, the requirements of geographical areas as well as certain types of property that might have higher debris removal exposures could be satisfied.