Binding Authority Suspensions
Stay up to date on which carriers are under binding restrictions due to storms via the information below.
Hiscox
Following Hurricane Ian’s updated track Hiscox has updated the moratorium. The areas under moratorium are now:
Florida – entire state
South Carolina – entire state
Georgia – entire state
The moratorium encompasses the following:
• All flood quotes and binds in the states and counties under moratorium. For VMGA FloodPlus Users, coverholders must enforce the moratorium on the bind function themselves as it is not automatic.
• No new business can be bound whether previously quoted or not.
• No new quotes to be offered until the moratorium is lifted.
• No reductions in deductibles or significant increases in limits for renewal accounts.
The Counties under moratorium will be disabled for all FloodPlus users, however, all other States can be quoted in the FloodPlus system.
Ace/Westchester
Binding restrictions are in place for the state of Florida in response to Hurricane Ian. Restrictions affect the following:
• Florida – Entire State
• Georgia – Charlton, Camden, Glynn, McIntosh, Liberty, Bryan, Chatham, Effingham, and Wayne
• South Carolina – Allendale, Hampton, Jasper, Beaufort, Colleton, Charleston, Berkeley, Dorchester, Georgetown, Horry, Marion, and Williamsburg
Nautilus
Temporary binding suspension is in place for new business, increases on existing property limits and/or renewals with lapse (renewals without lapse are acceptable). This suspension applies to all properties within the state of Florida. The restriction will end 48 hours after the cancellation of the watch or warning by the National Weather Service.
Nationwide/Scottsdale
A cease bind is in effect for the entire state of Florida and some parts of Georgia and South Carolina. This will remain in effect until the carrier issues a bulletin lifting the cease bind.
Century Surety
Due Hurricane Ian all binding authority is temporarily suspended for Property, Inland Marine, Environmental Property, Ocean Marine, Auto Dealers/Garage Physical Damage and Garagekeepers business.
This moratorium applies to all perils in the following states:
Florida, South Carolina, North Carolina and Georgia
This moratorium applies to the binding of any new business, as well as new additions and/or exposure or limit increases to existing policies.
USLI
Effective immediately, USLI has implemented property binding restrictions for the entire states of Florida and Georgia, as well as the following counties in South Carolina and Alabama:
South Carolina
Allendale, Hampton, Jasper, Beaufort, Colleton, Charleston
Alabama
Butler, Crenshaw, Coffee, Conecuh, Covington, Dale, Escambia, Geneva, Henry, Houston, Barbour, Pike, Bullock, Russell, Macon, Lee, Chambers, Montgomery
AIG
Effective immediately, there is a moratorium on any new business, any increase in limits or addition of new locations on existing business, or any changes in existing coverage and deductibles, for U.S. State of Florida, Cuba and Cayman Islands
Atlantic Casualty
The following binding suspensions have been implemented for Property, Inland Marine and Garage Physical Damage Coverages in Florida where the National Weather Service has issued a Hurricane or Tropical Storm Warning or Watch. The suspensions will remain in effect until 24 hours after said warning or watch has been officially lifted.
Binding or writing new policies
Adding additional locations
Adding additional scheduled equipment (Inland Marine)
Increasing existing policy limits
Lowering deductibles on existing policies.
National Indemnity Company
As a result of the threat of Hurricane Ian, the National Indemnity group of insurance companies is temporarily suspending binding of new business for Physical Damage, Cargo, Trailer Interchange, Dealers Open Lot and Garagekeepers coverages, including In-Tow, in certain territories.
MUSIC
MUSIC is implementing a suspension of our agent’s binding authority, effective September 26, in Florida, Mississippi, Louisiana, Alabama, Georgia and South Carolina.
AmRisc
AmRisc has implemented binding restrictions in LA, MS, AL, FL.
Western World
Effective immediately, there is a moratorium on any new business, any increase in limits or addition of new locations on existing business, or any changes in existing coverage and deductibles for Property coverage, including Garage Property, Dealer open lot and Garagekeepers coverage for US State of Florida, Cuba and Cayman Islands:
Regions:
United States – The States of Florida, Georgia and South Carolina
Cuba
Cayman Islands
Informative Websites for Weather Updates
- National Hurricane Center
- National Weather Service
- Caribbean Hurricane Network
- Hurricane & Storm Tracking for Atlantic & Pacific Oceans