CHAPTER 9-1900. FIRE INSURANCE ESCROW ACCOUNTS: MUNICIPAL CERTIFICATE REQUIRED PRIOR TO PAYMENT OF FIRE LOSS CLAIMS 1189

 

Notes

1189
   Added, 1994 Ordinances, p. 84. Section 2 of the Ordinance provides that this Chapter shall apply only to fire losses on or after 60 days from enactment. Enrolled bill read "Chapter 9-1800" in error, since a Chapter 9-1800 already exists. Chapter caption and all included Section numbers have been changed by the Code editor to conform to Chapter 9-1900. Renumbered all included Section numbers and added definition 3. Section 3 of the Ordinance provides that it shall be effective as of the effective date of Act No. 93 of 1994, which amended Section 508 of the Insurance Company Law of 1921. Act No. 93 of 1994 became effective on January 11, 1995.
§ 9-1901. Definitions.
   (1)   Commissioner. The Commissioner of Licenses and Inspections.
   (2)   Covered Claim. A claim of a named insured for fire damage to a building or other structure located within the City of Philadelphia, if the amount recoverable for the fire loss to the building or other structure under all policies exceeds seven thousand five hundred dollars ($7,500), or such other minimum amount as may be provided in Section 508 of The Insurance Company Law of 1921 as amended, and if the loss agreed upon by the named insured and the Insuring Agent or Agents equals or exceeds sixty percent (60%) of the aggregate limits of liability on all fire policies covering the building and other structures covered under the same policies.
   (3)   Delinquent. A tax, assessment, penalty or user charge becomes delinquent at the time and on the date a lien could otherwise have been filed against the property by the City under applicable law.
   (4)   Insuring Agent. 1190 An insurance company, association or exchange which has issued a policy of insurance covering fire damage to a building or other structure.

 

Notes

1190
   Renumbered, Bill No. 1055 (approved June 28, 1995), 1995 Ordinances, p. 770.
§ 9-1902. Duties of the Commissioner of Licenses and Inspections.
   (1)   The Commissioner of Licenses and Inspections is hereby designated as the officer authorized to carry out the duties of the City under Sections 508(C) and 508(D) of the Insurance Law of 1921.
   (2)   The Commissioner of Licenses and Inspections shall carry out all duties and responsibilities assigned in this Chapter, and shall take any other actions necessary to implement this Chapter and Sections 508(C) and 508(D) of the Insurance Law of 1921.
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