Blankets in Advanced Product Designer

Advanced Product Designer blankets let insurers group coverage across multiple locations so limits can be shared where losses occur. Blanket modeling supports Commercial Property scenarios and helps product designers configure broader, location-spanning protection.

Blankets are used to cover risks in multiple locations and provide adequate coverage in the event of a loss. Policies that cover Commercial Property (including Commercial Package), Business Owners, and Inland Marine can have blankets. A blanket can cover buildings (including contents), business income, or both.

A blanket increases the available coverage. For example, an insured party has two buildings in two different locations and $10,000,000 in coverage on each building. If the policy provides blanket coverage for the two buildings and one of the buildings is a total loss, the insured has up to $20,000,000 in coverage from the blanket.

Blankets are useful when each location includes different types of businesses with different risk profiles (mixed-use buildings). For example, a location might include apartments, a restaurant, and a dry cleaner. Because the risks for the different businesses are averaged, the price per dollar of coverage is less than it would be without a blanket.

In APD, you can model risk objects and coverages first and then add blanket types, or you can create the blanket types first. You can test by adding blanket coverage to a policy using the Submission wizard in PolicyCenter.