Question on an ISR extension of coverage
Prof. Allan Manning
MARCH 11, 2024
The following question was asked of one of the LMI team who intern asked me to address it. Hi, Sorry – another tech question. Could you advise why the Steadfast Wording requires a sub-limit for Unabandoned Undamaged Portion of a Building. Per the wording, the increase in sale value is regarded as salvage value taken by the insurer? Does having a sub-limit benefit or is it a disadvantage to the Insured?
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