Beacon-National Insurance Associates, Inc.To: Beacon-National Agency Partners
Re: HURRICANE SEASON INFORMATION / Property Coverage
HANGARPlus
Hurricane Season Officially begins June 1, and runs through November 30. For agents new to our company and to refresh the memories of those who have been with us for a while, we offer this reminder of our position concerning tropical storms and hurricanes.
As Underwriting Managers for Companion Property and Casualty Group, our desire is to get the latest underwriting issues to you as it relates to the 2011 Hurricane Season.
When a Tropical Storm Watch or Warning, or a Hurricane Watch or Warning is issued by the National Weather Service for any area of a state in which Companion writes business, Companion will not accept additional windstorm liability in that area on property, inland marine or automobile physical damage exposures, whether on a new policy or endorsement to an existing policy.
Renewal of existing policies are considered bound provided there is no increase in property limits, or additional locations or coverages except for normal inflationary increases that Companion solicits.
Normal binding authority is automatically restored in an area when the National Weather Service suspends the Watch or Warning for that area.
The following are definitions for tropical disturbances:
- Tropical Storm Watch – Tropical Storm conditions with sustained winds from 39 to 73 miles per hour are possible in specified areas within the next 36 hours.
- Tropical Storm Warning – Tropical Storm conditions are expected in specified areas within 24 hours.
- Hurricane Watch – Hurricane conditions (sustained winds greater than 73 miles per hour) are possible in specified areas within 36 hours.
- Hurricane Warning – Hurricane conditions are expected in specified areas within 24 hours.