Originally Posted By: gromicko
This post was automatically imported from our archived forum.
We are pleased to announce that the Mold Policy that is offered through FREA for Mold coverage has had its $5,000,000 cap lifted for the overall policy aggregate limits for NACHI members.
As of today there is no cap on the overall policy aggregate limits.
What does this mean?
There is no limit monetary limit on the policy.
Example:
It means that if there are 10 claims for $1,000,000 each from ten inspectors (or 100 claims from 100 inspectors for $500,000 each); the carrier will be able to cover them and pay them. Under the ?old? policy limits, the policy would pay only up to the $5,000,000 aggregate limit, be it one inspector or 10 inspectors that put in claim/claims that equaled the $5,000,000 limit.
So this is great news!
As it?s a true policy now, and not a limited captive program.
Sincerely,
Chris Butler
Director of Membership
FREA
4907 Morena Blvd., Ste. 1415
San Diego, CA. 92117
O - 800-882-4410 ext. 104
F - 858-273-8026
cbutler@frea.com
--
Nick Gromicko
Founder
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