Coverage Summary & Comparison
Self Insurance Programs
HARRP members self insure their exposures with reinsurance and excess insurance for limits exceeding $1 million.
The coverage limits are $2 million per occurrence and in the aggregate for auto liability and $2 million per occurrence and in the aggregate for general liability, errors and omissions liability and employment practices liability.
Through the act of self insuring its exposures and purchasing reinsurance, HARRP and its members maintain direct control over the adjustment, defense and settlement of the claims.
HARRP purchases excess property coverage for losses exceeding $2,000,000. For 2013, the limit of such excess property coverage is $45 million above the self insured coverage.
There is no coverage for flood or earthquake damage.
|Outdoor property||$1,000 covered for 5 perils||$10,000 covered for 7 perils|
|Property in open||100 feet from building||500 feet from building|
|Rain snow ice to property in the open||Excluded||Covered|
|Fire department charges||$1,000||Unlimited|
|Debris removal||$10,000 if caused by covered peril||25% of damaged property for covered perils|
|Vacancy||60 days||No limit|
|Property value||Subject to coinsurance penalty for under reporting||Covered at agreed amount plus 25%|
|Valuation||Coverage at value stated||Up to 125% of stated Value|
|Glass breakage||$100 each pane/$500 maximum||Up to property limits|
|Seepage & leakage||14 days||No limit|
|Property loss reporting||180 days for replacement cost||Reasonable time for replacement cost|
|Water damage from frozen pipes||Excluded||Resulting water damage is covered|
|Property in transit||$1,000||$10,000|
|Ordinance law coverage||Must be added for extra cost||Included on all covered properties (free)|
|Errors & Omissions (E&O)||Must apply & buy separately||Included if purchased and member insures the site with HARRP (same application)|
|E & O claim reporting period||60 days after policy expires||90 days after policy expires|
|Employment practices liability||Must apply & buy seperately||Included with purchase of E & O based on “employee” headcount|
|Employee dishonesty||Sold separately, separate cost||Included with liability coverages (free)|
|Liability coverage||Starts at $1,000,000||$2,000,000|
|Medical payments absent liability||$5,000 maximum||Excluded unless HA caused injury|
|Cancellation of coverage notice||30 days||60 days|
|Dividend payments to clients||Some mutual insurers do||Yes. $4,000,000 for policy years 1987 to 1992!|
|General liability Basic Limits||1 million/2million||2 million/2million|
|Equipment breakdown (boiler & machinery)||Covers accidental breakdown of electrically operated equipment. Must be purchased at a separate policy for an additional premium.||Covers accidental breakdown of electrically operated equipment. Covered on HARRP insured locations (free on HA owned locations)|
|Auto limits||1 million/2million||2 million/ 2million|