Sample Office Technology Policy
Some folks from the CIRMS group discussed below presented a paper at a recent seminar on Telework Risks and Liabilities. Within that paper was a sample Office Technology Policy. They have…
Agency Operations
Cleaning Up Loss Ratio Problems
Throughout the soft market, rates dropped and companies endured increasing losses as the price to pay for cash flow and market share. Now carriers are reacting to loss ratios much…
Showdown: ACORD 27 vs. ACORD 75
When proof of insurance is requested, which is most appropriate, the ACORD 27 – Evidence of Property Insurance or the ACORD 75 – Insurance Binder?
Issuing Binders Without Closing Dates
An agency has had several requests from mortgage brokers and lawyers asking for binders showing the new mortgagee without having set closing dates on new loans. They insist that the…
Correcting CLUE Report Errors
CLUE reports, like MVRs, have become a staple of most personal lines underwriters. However, what happens when someone discovers an error on a CLUE report? What are the ramifications for…
Agency Underwriting…Establishing a Minimum Limits Policy
Quite a few agencies now practice agency underwriting by establishing minimum limits that they will write for auto, CGL, etc. There are definitely advantages to doing this and, in general,…
Underwriter Submissions…How to Get to the Top of the Pile
Recently, our “Ask an Expert” service received a simple, one-sentence question: “How do you get your submissions noticed by an underwriter?” In this article, we’ll give you some tips from…
Binding Authority Weather Restrictions
Your agency/company contract has been amended as follows: “The Agency shall have no authority on behalf of the Company to provide new coverage or increase existing coverage when the National…
Furnishing MVRs…Legal But Not Permitted
When a commercial lines client requests an agency to run an MVR on a new employee in conjunction with adding him/her as a driver to the BAP, the agency may…
Monitoring Phone Calls
Do you ever call customer service for a company and get a message that the call may be recorded or monitored? Most likely this is a quality control function and…
