Financial Term Types

 

Each of the financial terms (that is, limits and deductibles) that Touchstone supports for layers, sublimits, and locations falls into one of the following categories:

Financial Term Type

Description

ABCD

This category of financial terms refers to terms that are split by coverage type (for example, Limit A, Limit B, Limit C, and Limit D). In very general terms, property exposure data treats these coverages as follows:

       A - Building

       B - Other Structures

       C - Contents

       D - Time

 

For this financial term type, you import a separate replacement value for each of the coverage types and a separate limit to the amount of financial relief the insurance company provides for each of these coverage types.

ABC-D

This category of financial terms refers to insurance coverage that is split only by Building and Time coverage. In this case, Building coverage accounts for the Other Structures and Contents together (for example, Limit A, B, C, with a separate Limit D).

 

For this financial term type, you specify a replacement value and a limit for only A and for D separately because B and C are aggregated into A.

Total

This category of financial terms refers to insurance coverage that combines all exposure into a single replacement value and a single limit to the financial relief that the insurance company provides.

 

For lists of the layer, sublimit, and location limit and deductible types, see the following topics:

         Layer Limit Types

         Sublimit Limit Types

         Location Limit Types

         Layer Deductible Types

         Sublimit Deductible Types

         Location Deductible Types

 

© 2016 AIR Worldwide. All rights reserved.

Click here for information about AIR Worldwide, including copyright, trademarks, confidentiality, and contact information.

Touchstone V3.0 Updated December 01, 2016