Form Map: Commercial Property-Schedule of Property Limits (ACORD 159)
This is one of several forms comprising the Commercial Property policy. See Form Map: Commercial Property for information about additional forms. |
When AMS360 creates the ACORD 140 Property Section form, it also creates the ACORD 159 Schedule of Property Limits form for any policy that includes a Subject of Insurance and Cause of Loss attached to a Premise location, which have been marked to include on the ACORD 159.
Data flows from the AMS360 fields to a corresponding section on the ACORD 159 Business Income/Extra Expense/Rental Value form. You can refer to the following sample of the ACORD 159 form to determine the corresponding AMS360 fields.
ACORD 159 with Images of the Policy Data Entry SectionsClick in the area of the ACORD 159 Schedule of Property Limits form to view the AMS360 fields from which the information flows.
When you click on a section in the ACORD form, a pop-up image of the corresponding AMS360 fields appears. To close this image, click outside the ACORD form.
Alternatively, you may refer to a selection of images from the AMS360 user interface to determine which fields on the ACORD 159 form correspond to the depicted fields from AMS360.
Policy Data Entry Sections with Images of the ACORD 159The following images represent property policy information fields in AMS360. Data flows from the AMS360 fields to a corresponding section on the ACORD 159 Schedule of Property Limits form.
Only Subjects of Insurance marked to include on the ACORD 159 appear on the form.
Click the images to view where data appears on ACORD 159.
Policy: First Named InsuredTo access these fields in AMS360, go to Policy > First Named Insured.
This policy applicant information originates in Customer Setup, Name and Address section. If you click Update from Customer, information automatically flows from Customer Setup into these fields.
If you change/update the information here in the First Named Insured section of the Policy, these changes do not flow back to the customer. You may also have to update Customer Setup.
Company SetupTo access these fields in AMS360, open the company in Company Center and click Edit Company. The NAIC Code appears on ACORD 159.
Policy: Basic Policy InformationTo access these fields in AMS360, go to Policy > Basic Policy Information.
Additional Policy Information: Master Code and Sub CodeTo access these fields in AMS360, go to Policy > Basic Policy Information > Additional Policy Information.
Premise InformationTo access these fields in AMS360, go to Policy > Line of Business > Commercial Property > Premise Information.
Here you may select a location and enter its specific coverage information; however, the premise address and building information originates in the Commercial Locations fields.
To access these fields, go to Policy > 125, 130 Applicant Information/Locations > Commercial Locations.
Subjects of InsuranceTo access these fields in AMS360, go to Policy > Line of Business > Commercial Property > Premise Information > Subjects of Insurance.
The information in the highlighted grid row originates in the information fields below the grid.
The Subjects of Insurance information is premise-specific. Each row in the grid represents a different subject of insurance for Premises #1, Building #1. This example shows open information fields for flood coverage at this specific location.
Maximum Amount and Limit
For each subject under Subjects of Insurance, you can enter a Maximum Amount, a Limit, or both.
Each subject under Subjects of Insurance can have multiple causes of loss. In the Limit field, you can enter a limit amount for each cause of loss for the subject of insurance. In the Maximum Amount field, you can enter the maximum amount for the entire subject of insurance.
If you entered only one Cause of Loss under a subject of insurance, then enter Maximum Amount data only, and leave the Limit field blank. 
On the ACORD 159 form, the amount that appears in the "Subject of Insurance: Amount" column depends on what you enter in the Maximum Amount and Limit fields under Subject of Insurance in AMS360.
The following chart lists which amount appears on the ACORD form, based on what you have entered:
| Data entered in: | Appears on ACORD form: |
|---|---|
Maximum Amount field only | Maximum amount |
Limit field only | Limit amount |
Both Maximum Amount and Limit | Limit amount |
Coinsurance
For each subject under Subjects of Insurance, you can enter a Coinsurance amount. 
The ACORD 159 form includes labeled boxes for coinsurance amounts of 80%, 90%, or 100%. The last box in unlabeled.
If the coinsurance entered in AMS360 is 80%, 90%, or 100%, an X appears in the appropriate labeled box.
If the coinsurance is a different amount than any of these percentages, then the amount of the coinsurance on ACORD 159 appears as the label for the last box. An X appears in the last box as well.
Cause of Loss
For each subject under Subjects of Insurance, you can enter a Cause of Loss.
The ACORD 159 form includes a section titled "Applicable Causes of Loss," located beneath the applicant information.
- If the Cause of Loss in AMS360 matches one of the categories represented in the "Applicable Causes of Loss" section on ACORD 159, then an X will appear in the appropriate box on the form.
- If the Cause of Loss in AMS360 does not match any of the categories on ACORD 159, then an X will appear in one of the unlabeled boxes in the section.