Covered Policy or Covered Policies. (a) Covered Policy, as defined in Section 215.555(2)(c), Florida Statutes, is further clarified to mean only that portion of a binder, policy or contract of insurance that insures real or personal property located in the State of Florida to the extent such policy insures a Residential Structure or the contents of a Residential Structure, located in the State of Florida. (b) Due to the specialized nature of the definition of Covered Policies, Covered Policies are not limited to only one line of business in the Company’s annual statement required to be filed by Section 624.424, Florida Statutes. Instead, Covered Policies are found in several lines of business on the Company’s annual statement. Covered Policies will at a minimum be reported in the Company’s statutory annual statement as: 1. Fire 2. Allied Lines 3. Farmowners Multiple Peril 4. Homeowners Multiple Peril 5. Commercial Multiple Peril (non liability portion, covering condominiums and apartments) 6. Inland Marine Note that where particular insurance exposures, e.g., mobile homes, are reported on an annual statement is not dispositive of whether or not the exposure is a Covered Policy. (c) This definition applies only to the first-party property section of a policy pertaining strictly to the structure, its contents, appurtenant structures, or ALE coverage. (d) Covered Policy also includes any collateral protection insurance policy covering personal residences which protects both the borrower’s and the lender’s financial interest, in an amount at least equal to the coverage for the dwelling in place under the lapsed homeowner’s policy, if such policy can be accurately reported as required in Section 215.555(5), Florida Statutes. A Company will be deemed to be able to accurately report data if the required data, as specified in the Premium Formula adopted in Section 215.555(5), Florida Statutes, is available. (e) See Article VI for specific exclusions.
Appears in 14 contracts
Samples: Reimbursement Contract, Reimbursement Contract (FEDERATED NATIONAL HOLDING Co), Reimbursement Contract (FEDERATED NATIONAL HOLDING Co)
Covered Policy or Covered Policies. (a) Covered Policy, as defined in Section 215.555(2)(c), Florida Statutes, is further clarified to mean only that portion of a binder, policy or contract of insurance that insures real or personal property located in the State of Florida to the extent such policy insures a Residential Structure Structure, as defined in definition (27) herein, or the contents of a Residential Structure, located in the State of Florida.
(b) Due to the specialized nature of the definition of Covered Policies, Covered Policies are not limited to only one line of business in the Company’s 's annual statement required to be filed by Section 624.424, Florida Statutes. Instead, Covered Policies are found in several lines of business on the Company’s 's annual statement. Covered Policies will at a minimum be reported in the Company’s 's statutory annual statement as:
10. FireXxxx
2. Allied Lines
3. Farmowners Multiple Peril
4. Homeowners Multiple Peril
5. Commercial Multiple Peril (non liability portion, covering condominiums and apartments)
6. Inland Marine Note that where particular insurance exposures, e.g., mobile homes, are reported on an annual statement is not dispositive of whether or not the exposure is a Covered Policy.
(c) This definition applies only to the first-party property section of a policy pertaining strictly to the structure, its contents, appurtenant structures, or ALE coverage.
(d) Covered Policy also includes any collateral protection insurance policy covering personal residences which protects both the borrower’s 's and the lender’s 's financial interest, in an amount at least equal to the coverage for the dwelling in place under the lapsed homeowner’s 's policy, if such policy can be accurately reported as required in Section 215.555(5), Florida Statutes. A Company will be deemed to be able to accurately report data if the required data, as specified in the Premium Formula adopted in Section 215.555(5), Florida Statutes, is available.
(e) See Article VI of this Contract for specific exclusions.
Appears in 6 contracts
Samples: Reimbursement Contract (Federated National Holding Co), Reimbursement Contract (Federated National Holding Co), Reimbursement Contract (United Insurance Holdings Corp.)
Covered Policy or Covered Policies. (a) Covered Policy, as defined in Section 215.555(2)(c), Florida Statutes, is further clarified to mean only that portion of a binder, policy or contract of insurance that insures real or personal property located in the State of Florida to the extent such policy insures a Residential Structure Structure, as defined in definition (27) herein, or the contents of a Residential Structure, located in the State of Florida.
(b) Due to the specialized nature of the definition of Covered Policies, Covered Policies are not limited to only one line of business in the Company’s annual statement required to be filed by Section 624.424, Florida Statutes. Instead, Covered Policies are found in several lines of business on the Company’s annual statement. Covered Policies will at a minimum be reported in the Company’s statutory annual statement as:
1. Fire
2. Allied Lines
3. Farmowners Multiple Peril
4. Homeowners Multiple Peril
5. Commercial Multiple Peril (non liability portion, covering condominiums and apartments)
6. Inland Marine Note that where particular insurance exposures, e.g., e.g. mobile homes, are reported on an annual statement is not dispositive of whether or not the exposure is a Covered Policy.
(c) This definition applies only to the first-party property section of a policy pertaining strictly to the structure, its contents, appurtenant structures, or ALE coverage.
(d) Covered Policy also includes any collateral protection insurance policy covering personal residences which protects both the borrower’s and the lender’s financial interest, in an amount at least equal to the coverage for the dwelling in place under the lapsed homeowner’s policy, if such policy can be accurately reported as required in Section 215.555(5), Florida Statutes. A Company will be deemed to be able to accurately report data if the required data, as specified in the Premium Formula adopted in Section 215.555(5), Florida Statutes, is available.
(e) See Article VI of this Contract for specific exclusions.
Appears in 5 contracts
Samples: Reimbursement Contract (Homeowners Choice, Inc.), Reimbursement Contract (United Insurance Holdings Corp.), Reimbursement Contract
Covered Policy or Covered Policies. (a) Covered Policy, as defined in Section 215.555(2)(c), Florida Statutes, is further clarified to mean only that portion of a binder, policy or contract of insurance that insures real or personal property located in the State of Florida to the extent such policy insures a Residential Structure Structure, as defined in definition (27) herein, or the contents of a Residential Structure, located in the State of Florida.
(b) Due to the specialized nature of the definition of Covered Policies, Covered Policies are not limited to only one line of business in the Company’s annual statement required to be filed by Section 624.424, Florida Statutes. Instead, Covered Policies are found in several lines of business on the Company’s annual statement. Covered Policies will at a minimum be reported in the Company’s statutory annual statement as:
1. Fire
2. Allied Lines
3. Farmowners Multiple Peril
4. Homeowners Multiple Peril
5. Commercial Multiple Peril (non liability portion, covering condominiums and apartments)
6. Inland Marine Note that where particular insurance exposures, e.g., mobile homes, are reported on an annual statement is not dispositive of whether or not the exposure is a Covered Policy.
(c) This definition applies only to the first-party property section of a policy pertaining strictly to the structure, its contents, appurtenant structures, or ALE coverage.
(d) Covered Policy also includes any collateral protection insurance policy covering personal residences which protects both the borrower’s and the lender’s financial interest, in an amount at least equal to the coverage for the dwelling in place under the lapsed homeowner’s policy, if such policy can be accurately reported as required in Section 215.555(5), Florida Statutes. A Company will be deemed to be able to accurately report data if the required data, as specified in the Premium Formula adopted in Section 215.555(5), Florida Statutes, is available.
(e) See Article VI of this Contract for specific exclusions.
Appears in 4 contracts
Samples: Reimbursement Contract (HCI Group, Inc.), Reimbursement Contract (Homeowners Choice, Inc.), Reimbursement Contract (Homeowners Choice, Inc.)
Covered Policy or Covered Policies. (a) Covered Policy, as defined in Section 215.555(2)(c), Florida Statutes, is further clarified to mean only that portion of a binder, policy or contract of insurance that insures real or personal property located in the State of Florida to the extent such policy insures a Residential Structure Structure, as defined in definition (27) herein, or the contents of a Residential Structure, located in the State of Florida.
(b) Due to the specialized nature of the definition of Covered Policies, Covered Policies are not limited to only one line of business in the Company’s 's annual statement required to be filed by Section 624.424, Florida Statutes. Instead, Covered Policies are found in several lines of business on the Company’s 's annual statement. Covered Policies will at a minimum be reported in the Company’s 's statutory annual statement as:
1. Fire
2. Allied Lines
3. Farmowners Multiple Peril
4. Homeowners Multiple Peril
5. Commercial Multiple Peril (non liability portion, covering condominiums and apartments)
6. Inland Marine Note that where particular insurance exposures, e.g., mobile homes, are reported on an annual statement is not dispositive of whether or not the exposure is a Covered Policy.
(c) This definition applies only to the first-party property section of a policy pertaining strictly to the structure, its contents, appurtenant structures, or ALE coverage.
(d) Covered Policy also includes any collateral protection insurance policy covering personal residences which protects both the borrower’s 's and the lender’s 's financial interest, in an amount at least equal to the coverage for the dwelling in place under the lapsed homeowner’s 's policy, if such policy can be accurately reported as required in Section 215.555(5), Florida Statutes. A Company will be deemed to be able to accurately report data if the required data, as specified in the Premium Formula adopted in Section 215.555(5), Florida Statutes, is available.
(e) See Article VI of this Contract for specific exclusions.
Appears in 3 contracts
Samples: Reimbursement Contract (United Insurance Holdings Corp.), Reimbursement Contract (21st Century Holding Co), Reimbursement Contract (21st Century Holding Co)
Covered Policy or Covered Policies. (a) Covered Policy, as defined in Section 215.555(2)(c), Florida Statutes, is further clarified to mean only that portion of a binder, policy or contract of insurance that insures real or personal property located in the State of Florida to the extent such policy insures a Residential Structure or the contents of a Residential Structure, located in the State of Florida.
(b) Due to the specialized nature of the definition of Covered Policies, Covered Policies are not limited to only one line of business in the Company’s annual statement required to be filed by Section 624.424, Florida Statutes. Instead, Covered Policies are found in several lines of business on the Company’s annual statement. Covered Policies will at a minimum be reported in the Company’s statutory annual statement as:
1. Fire
2. : Fire Allied Lines
3. Lines Farmowners Multiple Peril
4. Peril Homeowners Multiple Peril
5. Peril Commercial Multiple Peril (non liability portion, covering condominiums and apartments)
6. ) Inland Marine Note that where particular insurance exposures, e.g., mobile homes, are reported on an annual statement is not dispositive of whether or not the exposure is a Covered Policy.
(c) This definition applies only to the first-party property section of a policy pertaining strictly to the structure, its contents, appurtenant structures, or ALE coverage.
(d) Covered Policy also includes any collateral protection insurance policy covering personal residences which protects both the borrower’s and the lender’s financial interest, in an amount at least equal to the coverage for the dwelling in place under the lapsed homeowner’s policy, if such policy can be accurately reported as required in Section 215.555(5), Florida Statutes. A Company will be deemed to be able to accurately report data if the required data, as specified in the Premium Formula adopted in Section 215.555(5), Florida Statutes, is available.
(e) See Article VI for specific exclusions.
Appears in 3 contracts
Samples: Reimbursement Contract, Reimbursement Contract, Reimbursement Contract
Covered Policy or Covered Policies. (a) Covered Policy, as defined in Section 215.555(2)(c), Florida Statutes, is further clarified to mean only that portion of a binder, policy or contract of insurance that insures real or personal property located in the State of Florida to the extent such policy insures a Residential Structure Structure, as defined in definition (27) herein, or the contents of a Residential Structure, located in the State of Florida.
(b) Due to the specialized nature of the definition of Covered Policies, Covered Policies are not limited to only one line of business in the Company’s annual statement required to be filed by Section 624.424, Florida Statutes. Instead, Covered Policies are found in several lines of business on the Company’s annual statement. Covered Policies will at a minimum be reported in the Company’s statutory annual statement as:
1. Fire
2. : Fire Allied Lines
3. Lines Farmowners Multiple Peril
4. Peril Homeowners Multiple Peril
5. Peril Commercial Multiple Peril (non liability portion, covering condominiums and apartments)
6. ) Inland Marine Note that where particular insurance exposures, e.g., mobile homes, are reported on an annual statement is not dispositive of whether or not the exposure is a Covered Policy.
(c) This definition applies only to the first-party property section of a policy pertaining strictly to the structure, its contents, appurtenant structures, or ALE coverage.
(d) Covered Policy also includes any collateral protection insurance policy covering personal residences which protects both the borrower’s and the lender’s financial interest, in an amount at least equal to the coverage for the dwelling in place under the lapsed homeowner’s policy, if such policy can be accurately reported as required in Section 215.555(5), Florida Statutes. A Company will be deemed to be able to accurately report data if the required data, as specified in the Premium Formula adopted in Section 215.555(5), Florida Statutes, is available.
(e) See Article VI of this Contract for specific exclusions.
Appears in 2 contracts
Samples: Reimbursement Contract, Reimbursement Contract
Covered Policy or Covered Policies. (a) Covered Policy, as defined in Section 215.555(2)(c), Florida Statutes, is further clarified to mean only that portion of a binder, policy or contract of insurance that insures real or personal property located in the State of Florida to the extent such policy insures a Residential Structure Structure, as defined in definition (27) herein, or the contents of a Residential Structure, located in the State of Florida.
(b) Due to the specialized nature of the definition of Covered Policies, Covered Policies are not limited to only one line of business in the Company’s 's annual statement required to be filed by Section 624.424, Florida Statutes. Instead, Covered Policies are found in several lines of business on the Company’s 's annual statement. Covered Policies will at a minimum be reported in the Company’s 's statutory annual statement as:
1. Fire
2. : - Fire - Allied Lines
3. Lines - Farmowners Multiple Peril
4. Homeowners Multiple Peril
5. Peril - Commercial Multiple Peril (non liability portion, covering condominiums and apartments)
6. ) - Inland Marine Note that where particular insurance exposures, e.g., e.g. mobile homes, are reported on an annual statement is not dispositive of whether or not the exposure is a Covered Policy.
(c) This definition applies only to the first-party property section of a policy pertaining strictly to the structure, its contents, appurtenant structures, or ALE coverage.
(d) Covered Policy also includes any collateral protection insurance policy covering personal residences which protects both the borrower’s 's and the lender’s 's financial interest, in an amount at least equal to the coverage for the dwelling in place under the lapsed homeowner’s 's policy, if such policy can be accurately reported as required in Section 215.555(5), Florida Statutes. A Company will be deemed to be able to accurately report data if the required data, as specified in the Premium Formula adopted in Section 215.555(5), Florida Statutes, is available.
(e) See Article VI of this Contract for specific exclusions.
Appears in 2 contracts
Samples: Reimbursement Contract (Philadelphia Consolidated Holding Corp), Reimbursement Contract (Philadelphia Consolidated Holding Corp)
Covered Policy or Covered Policies. (a) Covered Policy, as defined in Section 215.555(2)(c), Florida Statutes, is further clarified to mean only that portion of a binder, policy or contract of insurance (Policy Contract) that insures real or personal property located in the State of Florida to the extent such policy Policy Contract insures a Residential Structure Structure, as defined in definition (26) herein, or the contents of a Residential Structure, located in the State of Florida, or ALE coverage as defined in definition (3) herein.
(b) Due to the specialized nature of the definition of Covered Policies, Covered Policies are not limited to only one line of business in the Company’s 's annual statement required to be filed by Section 624.424, Florida Statutes. Instead, Covered Policies are found in several lines of business on the Company’s 's annual statement. Covered Policies will at a minimum be reported in the Company’s 's statutory annual statement as:
1. Fire
2. : - Fire - Allied Lines
3. Lines - Farmowners Multiple Peril
4. Homeowners Multiple Peril
5. Peril - Commercial Multiple Peril (non liability portion, covering condominiums and apartments)
6. ) - Inland Marine Note that where particular insurance exposures, e.g., mobile homes, exposures are reported on an annual statement is not dispositive of whether or not the exposure is a Covered Policy.
(c) This definition applies only to the first-party property section of a policy Policy Contracts pertaining strictly to the structure, its contents, appurtenant structures, or ALE coverage.
(d) Covered Policy also includes any collateral protection insurance policy covering personal residences which protects both the borrower’s 's and the lender’s 's financial interest, in an amount at least equal to the coverage for the dwelling in place under the lapsed homeowner’s 's policy, if such policy can be accurately reported as required in Section 215.555(5), Florida Statutes. A Company will be deemed to be able to accurately report data if the required data, as specified in the Premium Formula adopted in Section 215.555(5), Florida Statutes, is available.
(e) See Article VI of this Contract for specific exclusions.
Appears in 2 contracts
Samples: Reimbursement Contract (Philadelphia Consolidated Holding Corp), Reimbursement Contract (Philadelphia Consolidated Holding Corp)
Covered Policy or Covered Policies. (a) Covered Policy, as defined in Section 215.555(2)(c), Florida Statutes, is further clarified to mean only that portion of a binder, policy or contract of insurance that insures real or personal property located in the State of Florida to the extent such policy insures a Residential Structure or the contents of a Residential Structure, located in the State of Florida.
(b) Due to the specialized nature of the definition of Covered Policies, Covered Policies are not limited to only one line of business in the Company’s 's annual statement required to be filed by Section 624.424, Florida Statutes. Instead, Covered Policies are found in several lines of business on the Company’s 's annual statement. Covered Policies will at a minimum be reported in the Company’s 's statutory annual statement as:
1. Fire
2. Allied Lines
3. Farmowners Multiple Peril
4. Homeowners Multiple Peril
5. Commercial Multiple Peril (non liability portion, covering condominiums and apartments)
6. Inland Marine Note that where particular insurance exposures, e.g., mobile homes, are reported on an annual statement is not dispositive of whether or not the exposure is a Covered Policy.
(c) This definition applies only to the first-party property section of a policy pertaining strictly to the structure, its contents, appurtenant structures, or ALE coverage.
(d) Covered Policy also includes any collateral protection insurance policy covering personal residences which protects both the borrower’s 's and the lender’s 's financial interest, in an amount at least equal to the coverage for the dwelling in place under the lapsed homeowner’s 's policy, if such policy can be accurately reported as required in Section 215.555(5), Florida Statutes. A Company will be deemed to be able to accurately report data if the required data, as specified in the Premium Formula adopted in Section 215.555(5), Florida Statutes, is available.
(e) See Article VI for specific exclusions.
Appears in 1 contract
Samples: Reimbursement Contract (Federated National Holding Co)
Covered Policy or Covered Policies. (a) Covered Policy, as defined in Section 215.555(2)(c), Florida Statutes, is further clarified to mean only that portion of a binder, policy or contract of insurance that insures real or personal property located in the State of Florida to the extent such policy insures a Residential Structure Structure, as defined in definition (27) herein, or the contents of a Residential Structure, located in the State of Florida.
(b) Due to the specialized nature of the definition of Covered Policies, Covered Policies are not limited to only one line of business in the Company’s annual statement required to be filed by Section 624.424624,424, Florida Statutes. Instead, Covered Policies are found in several lines of business on the Company’s annual statement. Covered Policies will at a minimum be reported in the Company’s statutory annual statement as:
1. Fire
2. Allied Lines
3. Farmowners Multiple Peril
4. Homeowners Multiple Peril
5. Commercial Multiple Peril (non liability portion, covering condominiums and apartments)
6. Inland Marine Note that where particular insurance exposures, e.g., mobile homes, are reported on an annual statement is not dispositive of whether or not the exposure is a Covered Policy.
(c) This definition applies only to the first-party property section of a policy pertaining strictly to the structure, its contents, appurtenant structures, or ALE coverage.
(d) Covered Policy also includes any collateral protection insurance policy covering personal residences which protects both the borrower’s and the lender’s financial interest, in an amount at least equal to the coverage for the dwelling in place under the lapsed homeowner’s policy, if such policy can be accurately reported as required in Section 215.555(5), Florida Statutes. A Company will be deemed to be able to accurately report data if the required data, as specified in the Premium Formula adopted in Section 215.555(5), Florida Statutes, is available.
(e) See Article VI of this Contract for specific exclusions.
Appears in 1 contract
Covered Policy or Covered Policies. (a) Covered Policy, as defined in Section 215.555(2)(c), Florida Statutes, is further clarified to mean only that portion of a binder, policy or contract of insurance (Policy Contract) that insures real or personal property located in the State of Florida to the extent such policy Policy Contract insures a Residential Structure Structure, as defined in definition (26) herein, or the contents of a Residential Structure, located in the State of Florida, or ALE coverage as defined in definition (3) herein.
(b) Due to the specialized nature of the definition of Covered Policies, Covered Policies are not limited to only one line of business in the Company’s 's annual statement required to be filed by Section 624.424, Florida Statutes. Instead, Covered Policies are found in several lines of business on the Company’s 's annual statement. Covered Policies will at a minimum be reported in the Company’s 's statutory annual statement as:
1. Fire
2. : - Fire - Allied Lines
3. Lines - Farmowners Multiple Peril
4. Peril - Homeowners Multiple Peril
5. Peril - Commercial Multiple Peril (non liability portion, covering condominiums and apartments)
6. ) - Inland Marine Note that where particular insurance exposures, e.g., mobile homes, exposures are reported on an annual statement is not dispositive of whether or not the exposure is a Covered Policy.
(c) This definition applies only to the first-party property section of a policy Policy Contracts pertaining strictly to the structure, its contents, appurtenant structures, or ALE coverage.
(d) Covered Policy also includes any collateral protection insurance policy covering personal residences which protects both the borrower’s 's and the lender’s 's financial interest, in an amount at least equal to the coverage for the dwelling in place under the lapsed homeowner’s 's policy, if such policy can be accurately reported as required in Section 215.555(5), Florida Statutes. A Company will be deemed to be able to accurately report data if the required data, as specified in the Premium Formula adopted in Section 215.555(5), Florida Statutes, is available.
(e) See Article VI of this Contract for specific exclusions.
Appears in 1 contract
Samples: Reimbursement Contract (Philadelphia Consolidated Holding Corp)
Covered Policy or Covered Policies. (a) Covered Policy, as defined in Section 215.555(2)(c), Florida Statutes, is further clarified to mean only that portion of a binder, policy or contract of insurance that insures real or personal property located in the State of Florida to the extent such policy insures a Residential Structure or the contents of a Residential Structure, located in the State of Florida.
(b) Due to the specialized nature of the definition of Covered Policies, Covered Policies are not limited to only one line of business in the Company’s annual statement required to be filed by Section 624.424, Florida Statutes. Instead, Covered Policies are found in several lines of business on the Company’s annual statement. Covered Policies will at a minimum be reported in the Company’s statutory annual statement as:
1. Fire
2. Allied Lines
3. Farmowners Multiple Peril
4. Homeowners Multiple PerilPeril Paragon
5. Commercial Multiple Peril (non liability portion, covering condominiums and apartments)
6. Inland Marine Note that where particular insurance exposures, e.g., mobile homes, are reported on an annual statement is not dispositive of whether or not the exposure is a Covered Policy.
(c) This definition applies only to the first-party property section of a policy pertaining strictly to the structure, its contents, appurtenant structures, or ALE coverage.
(d) Covered Policy also includes any collateral protection insurance policy covering personal residences which protects both the borrower’s and the lender’s financial interest, in an amount at least equal to the coverage for the dwelling in place under the lapsed homeowner’s policy, if such policy can be accurately reported as required in Section 215.555(5), Florida Statutes. A Company will be deemed to be able to accurately report data if the required data, as specified in the Premium Formula adopted in Section 215.555(5), Florida Statutes, is available.
(e) See Article VI for specific exclusions.
Appears in 1 contract
Covered Policy or Covered Policies. (a) Covered Policy, as defined in Section 215.555(2)(c), Florida Statutes, is further clarified to mean only that portion of a binder, policy or contract of insurance that insures real or personal property located in the State of Florida to the extent such policy insures a Residential Structure Structure, as defined in definition (27) herein, or the contents of a Residential Structure, located in the State of Florida.
(b) Due to the specialized nature of the definition of Covered Policies, Covered Policies are not limited to only one line of business in the Company’s annual statement required to be filed by Section 624.424, Florida Statutes. Instead, Covered Policies are found in several lines of business on the Company’s annual statement. Covered Policies will at a minimum be reported in the Company’s statutory annual statement as:
1. Fire
2. : Fire Allied Lines
3. Lines Farmowners Multiple Peril
4. Peril Homeowners Multiple Peril
5. Peril Commercial Multiple Peril (non liability portion, covering condominiums and apartments)
6. ) Inland Marine Note that where particular insurance exposures, e.g., mobile homes, are reported on an annual statement is not dispositive of whether or not the exposure is a Covered Policy.
(c) This definition applies only to the first-party property section of a policy pertaining strictly to the structure, its contents, appurtenant structures, or ALE coverage.
(d) Covered Policy also includes any collateral protection insurance policy covering personal residences which protects both the borrower’s and the lender’s financial interest, in an amount at least equal to the coverage for the dwelling in place under the lapsed homeowner’s policy, if such policy can be accurately reported as required in Section 215.555(5), Florida Statutes. A Company will be deemed to be able to accurately report data if the required data, as specified in the Premium Formula adopted in Section 215.555(5), Florida Statutes, is available.
(e) See Article VI for specific exclusions.
Appears in 1 contract
Samples: Reimbursement Contract
Covered Policy or Covered Policies. (a) Covered Policy, as defined in Section 215.555(2)(c), Florida Statutes, is further clarified to mean only that portion of a binder, policy or contract of insurance that insures real or personal property located in the State of Florida to the extent such policy insures a Residential Structure Structure, as defined in definition (27) herein, or the contents of a Residential Structure, located in the State of Florida, or ALE coverage as defined in definition (3) herein.
(b) Due to the specialized nature of the definition of Covered Policies, Covered Policies are not limited to only one line of business in the Company’s annual statement required to be filed by Section 624.424, Florida Statutes. Instead, Covered Policies are found in several lines of business on the Company’s annual statement. Covered Policies will at a minimum be reported in the Company’s statutory annual statement as:
1. Fire
2. : — Fire — Allied Lines
3. Lines — Farmowners Multiple Peril
4. Peril — Homeowners Multiple Peril
5. Peril — Commercial Multiple Peril (non liability portion, covering condominiums and apartments)
6. ) — Inland Marine Note that where particular insurance exposures, e.g., e.g. mobile homes, are reported on an annual statement is not dispositive of whether or not the exposure is a Covered Policy.
(c) This definition applies only to the first-party property section of a policy pertaining strictly to the structure, its contents, appurtenant structures, or ALE coverage.
(d) Covered Policy also includes any collateral protection insurance policy covering personal residences which protects both the borrower’s and the lender’s financial interest, in an amount at least equal to the coverage for the dwelling in place under the lapsed homeowner’s policy, if such policy can be accurately reported as required in Section 215.555(5), Florida Statutes. A Company will be deemed to be able to accurately report data if the required data, as specified in the Premium Formula adopted in Section 215.555(5), Florida Statutes, is available.
. (e) See Article VI of this Contract for specific exclusions.
Appears in 1 contract
Samples: Reimbursement Contract (Philadelphia Consolidated Holding Corp)
Covered Policy or Covered Policies. (a) Covered Policy, as defined in Section 215.555(2)(c), Florida Statutes, is further clarified to mean only that portion of a binder, policy or contract of insurance that insures real or personal property located in the State of Florida to the extent such policy insures a Residential Structure Structure, as defined in definition (27) herein, or the contents of a Residential Structure, located in the State of Florida, or ALE coverage as defined in definition (3) herein.
(b) Due to the specialized nature of the definition of Covered Policies, Covered Policies are not limited to only one line of business in the Company’s annual statement required to be filed by Section 624.424, Florida Statutes. Instead, Covered Policies are found in several lines of business on the Company’s annual statement. Covered Policies will at a minimum be reported in the Company’s statutory annual statement as:
1. Fire
2. : — Fire — Allied Lines
3. Lines — Farmowners Multiple Peril
4. Peril — Homeowners Multiple Peril
5. Peril — Commercial Multiple Peril (non liability portion, covering condominiums and apartments)
6. ) — Inland Marine Note that where particular insurance exposures, e.g., e.g. mobile homes, are reported on an annual statement is not dispositive of whether or not the exposure is a Covered Policy.
(c) This definition applies only to the first-party property section of a policy pertaining strictly to the structure, its contents, appurtenant structures, or ALE coverage.
(d) Covered Policy also includes any collateral protection insurance policy covering personal residences which protects both the borrower’s and the lender’s financial interest, in an amount at least equal to the coverage for the dwelling in place under the lapsed homeowner’s policy, if such policy can be accurately reported as required in Section 215.555(5), Florida Statutes. A Company will be deemed to be able to accurately report data if the required data, as specified in the Premium Formula adopted in Section 215.555(5), Florida Statutes, is available.
(e) See Article VI of this Contract for specific exclusions.
Appears in 1 contract
Samples: Reimbursement Contract (Philadelphia Consolidated Holding Corp)