Business Insurance

This quotation has been prepared by Adriatic Insurance Brokers Ltd. on behalf of the Sovereign General Insurance Company for the HRAC program.

Additional Features and Explanations - Part 2
Program	Quotation
Co-Insurance	Business insurance policies with all insurance companies contain CO-INSURANCE CLAUSES (CO-INS). Page 1 indicates the minimum amount of coverage as a percentage of the value of the items to be insured. The percentages are either 80% or 100% on this policy. N/A means not applicable or that there is no (CO-INS) clause. If insurance is not purchased to the minimum required, the insurer reduces the amount payable for a claim. ADRIATIC recommends that in all cases, insurance is purchased to 100% of the value of all goods to be insured.
Effective Date	Coverage cannot be effective until a fully completed and signed application has been approved. Your firm must be a member or the HRAC and hold all necessary licenses for the services that are provided by your firm. If your firm has had more than 1 claim within the last 36 months, or been canceled by any insurance company for this type of insurance, please attach a full description of the details for underwriting consideration. Page 1 of this quotation shows the annual premium and the pro-rata premium which will be charged up to January 1.
Expiry Date	All policies on this program expire on January 1, 12:01 A.M. each year. If you purchase the coverage during the year, the insurer will only charge for the number of days remaining until January 1, on a pro rata basis.
Schedule	If either the amount of TOOL or CONTRACTOR'S EQUIPMENT coverage is greater than $3,000 each, a list of all items and their value is required. If a form for this purpose was not sent to you, please telephone in order that it can be returned with your application.
Master Policy	A copy of the master policy is kept at the H.R.A.C., the insurer, SOVEREIGN GENERAL INSURANCE COMPANY and the broker, ADRIATIC INSURANCE BROKERS LIMITED.The master policy contains all of the normal terms, conditions, limitations and exclusions. A CERTIFICATE OF INSURANCE will be issued to each member firm purchasing this insurance. Every effort has been made to explain an accurate description of the coverages provided under this program. In the event that there are any differences between this quotation or the certificate and the master policy, the master policy will govern in all cases.

The HRAC Program also offers:

1. Group Employee Benefits, Life, Disability, Health (Drug Plan etc.), and Dental coverage for member firms with as few employees as one-man operations.
2. Commercial Automobile Rates for your truck or trucks, and business vehicle(s) are available at very competitive premiums.