Safeco’s Ultra Specialty Services product is a preferred policy designed for the small service classes. Operations must be eligible in their entirety. Any risk with exposures not described by eligible classifications are ineligible for this program. Rating is on a per employee bases and cannot exceed 10 full time employees.
· Total Insured Values (TIV) cannot exceed $15,000,000 at any insured location. TIV includes Building and Business Personal Property values.
· Annual receipts must be less than $15,000,000.
· Total cost of subcontracted work cannot exceed 25% of the contractor’s direct payroll.
· Operations that involve new residential construction, past or current, are ineligible.
· Operations must be year-round, full-time concerns for the insured. Seasonal/part-time operations are ineligible.
· Experience requirements vary by operation; most require no less than two years under the present ownership.
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