Am sorry, I do not have in-detail knowledge of the premium coverage since I have never read, or used the product.
However, Here is the link to the T&C for baggage insurance under AMEX Plat.
Page 2 has the Frequent Flyer Miles definition
Page 3 has Coverage Requirement.
http://www.americanexpress.com/us/co...ss/TAI-DOC.pdf