Easy to Read, Navigate and Sell

At Affiliated FM, we believe that insurance doesn’t have to be complicated. That’s why we developed the all-new proVision® policy to be even easier to read and navigate while also creating new, innovative coverage offerings.

proVisionWe developed the new proVision® 4100 with two specific goals in mind: Make the proVision even easier to read and understand, and enhance the existing coverage while also creating new, innovative coverage offerings.

Simplified
At Affiliated FM, we believe that insurance doesn’t have to be complicated. That’s why we set out to make the proVision policy even easier to read and navigate. We did this by focusing on 3 key areas:

  1. Core Form
     We’ve consolidated the coverages from our
    current industry-specific proVision forms into a single core form. We believe this will make it easier for your technical review team to become familiar with our base all-risk policy, rather than have to learn 6 different Affiliated FM forms.
    • Segment endorsements: We will offer industry-specific endorsements to enhance the coverage for your Condominium, Education, Healthcare, Real Estate and Retail clients.
  2. core form

  3. Policy Construction
    To improve navigation, we simplified the policy structure by:
    • Adding a table of contents
    • Alphabetizing additional coverages
    • Re-ordering the various sections of the policy
    • Incorporating business interruption in the core form
  4. Globalization
    Regardless of where your clients are in the world, the Global Master endorsement provides coverage between your corporate policy and the locally admitted policy. Based on your feedback, we also made sure to refer to coverage in the same way you do in your local language. We believe this will give you a greater level of comfort when issuing the proVision outside of the U.S.

Coverage changes
New Coverage/Offerings

  • Computer systems non-physical damage: Provides coverage for business interruption incurred by the insured as a direct result of a malicious act directed at the named insured.
  • Supply Chain: Provides direct and indirect contingent business interruption coverage for supply chain disruptions.
  • Green Coverage: Covers the additional cost to upgrade damaged property to a green standard.
  • BI Select: Following a business interruption, an insured may select either the gross earnings or gross profit calculation for payment of the loss. For more on this topic, see Gross Profit vs. Gross Earnings.

Enhanced Coverage/Offerings
We also improved many coverages throughout the policy. Some examples include:

  • Several coverages now include flood and earth movement coverage on a limited basis
  • Business income coverage for items in transit
  • Off Premises Service Interruption to include voice data and video
  • Extension of DICC – ordinance and law to the insured’s equipment

Removal of Exclusions
We also removed the following exclusions:

  • Personal property when acting as warehouseman
  • Exterior Insulating Finishing System (EIFS)
  • Vacancy Clause

Policy Limits
The following are some examples of coverages moving to policy limit:

  • Fungus Mold and Mildew
  • Brands and Labels
  • DICC
  • Pavements and Roadways
  • Trees, Shrubs, Plants and Lawns

Coverage Restrictions
For contract certainty reasons, we added two restrictions to the new policy:

  • Property off shore is excluded.
  • Transmission and Distribution systems are excluded from unnamed locations.

If your insured has either of these exposures, talk to your underwriter about how to structure coverage.

A long-term partner
Based on your feedback, we developed the proVision 4100 to be clear, consistent and broad. In addition, we’re leveraging the financial strength of the FM Global group to provide your clients significant enhancements to limits and coverages. We’re excited to introduce the proVision 4100, as the latest example of our long-term commitment to the success of you and your clients.

Be sure to look for more information on the proVision 4100 from your production underwriter.

Note: This information does not constitute, replace or supplement policy language. The liability of Affiliated FM is limited to that contained in its insurance policies.