What it does
BP DS 06 is the Flood Coverage Schedule for the ISO Businessowners program. ISO describes it as a schedule for use with the Flood Coverage endorsement that accommodates specific as well as blanket limits of insurance. The endorsement it supports, BP 10 79, adds flood to the BOP and can be written above federally insured limits or on a first-dollar basis.
Who needs it
Accounts with flood exposure where the carrier offers flood inside the BOP, including lenders' requirements above the NFIP maximum and clients with no NFIP policy.
Quoting and selling notes
- Confirm whether the limit is meant to sit excess of an NFIP policy or to respond from the first dollar, and enter it accordingly.
- Check how the limits are arranged (specific by location or blanket) and that the locations match the declarations.
