September 6, 2002
INSURANCE
INFORMATION NOTICE NO. 2003-2
SUBJECT: PROPOSAL
OF NEW DEDUCTIBLES FOR PROPERTY, AUTOMOBILE PHYSICAL DAMAGE, AVIATION HULL, WET
MARINE HULL, BOND, CRIME, AND BRIDGE PROPERTY INSURANCE COVERAGES
Effective November 1, 2002, the Office of Risk Management (ORM) will endorse our present policies to increase the deductibles for the following lines of coverages. This change only affects the coverages listed:
|
LINE OF COVERAGE |
PRESENT
DEDUCTIBLE PER OCCURRENCE |
NEW DEDUCTIBLE PER OCCURRENCE |
|
Aviation
Hull |
$250 |
$1,000 |
|
Wet
Marine Hull |
$250 |
$1,000 |
|
Bridge
Property |
- 0 - |
$1,000 |
|
Bonds
(Excludes Postal Bonds) |
$250 |
$1,000 |
|
Crime |
$250 |
$1,000 |
|
Automobile
Physical Damage-Comprehensive |
$100 |
$1,000 |
|
Automobile
Physical Damage-Collision |
$300 |
$1,000 |
|
Property
– Building |
$250* |
$1,000 |
|
Property
– Movable Property |
$250 |
$1,000 |
* Deductible only applied when the loss was due to malicious mischief or vandalism. The new deductible applies to all building property losses.
Any claims occurring after November 1, 2002 will be adjusted using the new deductibles. ORM still should receive all claims so that the claims history can be kept current. If you have any questions concerning the above, please call Melissa Harris at (225) 342-8414 or Diana Darbonne at (225) 342-8471.