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FAQ

Can I increase my limits of liability mid-term?

A few reasons for increasing your limits of liability may be that:

  1. A new or existing client of yours is requiring you to carry a specific limit of liability in order to do business with them;
  2. A new regulation is passed requiring a certain minimum limit of liability be maintained by the firm;
  3. You have determined that due to an increased/different client base, higher limits are needed;
In order to proceed with your request to increase limits, an owner, officer or partner of the firm must send a written request regarding the reason for the increase and if applicable, a copy of the contract that references the required limit of liability should be attached. We will also need a signed and dated warranty statement that indicates that there are no claims, circumstances or changes to the application since it was originally completed. If the request is granted by the carrier, the effective date of the endorsement will be the date of the firm's warranty statement. The premium will be based on the difference between current limits of liability and the higher limit of liability calculated on a pro-rated basis.

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