- Substandard Fire (Commercial)
Agents and brokers find it particularly difficult to place substandard fire insurance. Commercial risk placement difficulties may be due to the fact that the property values are low, it is a prohibited class of business, or the occupancy or hazards make the risk a poor one to accept at the rates usually charged. Most, if not all, substandard fire insurance business written on commercial properties is placed in non-admitted markets at rates above the standard rates. While some commercial properties are written in Fair Access to Insurance Requirements (FAIR) plans, the surcharged market still handles lines not written in these plans or writes excess coverage over FAIR plan limits. This class is underwritten very closely and is usually accepted by domestic companies on an accommodation basis only.
Specialty Agent Locator for Substandard Fire (Commercial)
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