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  • Understanding the Importance of Ordinance or Law Coverage (ABEN)

Understanding the Importance of Ordinance or Law Coverage (ABEN)

  • September 21, 2023
  • 12:00 PM - 2:00 PM
  • ABEN Webinar

Understanding the Importance of Ordinance or Law Coverage (ABEN)

Course #107665 | 2 P&C

Insurance agents do a bad job of explaning the concept of "replacement cost." We tend to tell clients they will get new stuff for old junk and while that may be partially true, partial truths get you sued. 

One roadblock to replacement cost is building codes or what we insurance practicioners refer to as ordinance or laws. Unendorsed policies offer only a VERY limitied amount of coverage for the increased costs to rebuild due to these ordiances or laws, and when your insured is forced to pay these additional costs out-of-pocket, they are going to be mad! 

Learning Objectives: 
  • Learn the purpose of ordinance or law coverage;
  • Learn coverage gaps creating the need for ordinance or law coverage;
  • Learn sources and enforcement of building codes;
  • Learn common ordinance or law requirements and coverage limitations;
  • Learn ordinance or law coverage (CP 04 05);
  • Learn ordinance or law - increased period of restoration (CP 15 31);
  • Learn how to develop ordinance or law premiums; and 
  • Learn ordinance or law example
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Glen Burnie, MD. 21061


P: 410-766-0600

E: info@bigimd.com


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