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Requirements for Quoting and Binding

Anderson and Murison Alternative Personal Umbrella Market

Requirments for Quoting and Binding

  • Log on to www.bigimarkets.com.  Not yet registered for Big I Markets? Click here to register online.  It is easy to do and there are no fees or minimum volume commitments!
  • From the personal lines menu select Personal Umbrella Alternative Market
  • Click on 'Request a Quote' and enter the requested information.
  • Download, complete, and save the appropriate Supplemental Application. [You MUST finish and submit the online portion as well] The application may be downloaded ahead of time from Product Resources located in the blue, left-hand column.
  • The application MUST be completed in its entirety and signed by the applicant.
  • Attach the separate application using the 'New Message' feature. If you are unable to attach one or both of the applications you may fax them to 703-995-4406 and we will attach them for you.
  • To request to bind coverage, access the record in the Activity Box, click 'Request Binder' and complete the requested information.
  • The underwriter will respond with the terms of binder confirmation or the need for additional information.
  • Ask or answer any additional questions and communicate with the underwriter by sending it via 'New Message'.
  • Include the gross premium which may be sent as either:
    • Insured's check or your agency check made payable to National Casualty or A&M
    • Insured's check endorsed to National Casualty or A&M
    • If the premium calculation is incorrect or payment is less than the gross premium, the insured will be billed directly.

If accepted the Effective date will be the day of receipt by A&M as posted on Big "I" Markets with completed application and a check (or later date if requested).

 

Commission and Policy Administration

Commission is 9.9% of written premium paid to your agency. It will be paid generally within 60 days of policy issuance if you are signed up for EFT commission payment.

 

Endorsement, Cancellations and Renewals

 

Endorsements - You should submit endorsement requests correcting name, address, etc. to Big 'I' Markets. The producer may make no changes.

Renewals - An updated PEP application is required to process the PEP policy renewal. A&M Services will run MVRs for each operator for renewals. The insured must sign the PEP application which includes an underlying limits warranty clause.

Renewal notification and processes will be in accordance with your state's requirements:
  • First notice: Renewal quotes based on last year's policy information will be sent to the insured and the producer. The renewal quote letter will also include instructions for the insured to contact the producer to renew the PEP policy.
  • Second Notice: A&M Services will forward a second notice of renewal to the producer. If renewal premium is received and duly recorded by the PEP administrator, A&M Services, on or before the expiration date, coverage will be continued without lapse.
  • Late payment: If insured's payment is received late, a new policy will be issued.
    When renewal premium is received, commission will be credited to your account.
PEP policies you write will be extended only to the expiration date should IIABA membership become inactive.
 
Non-renewal - The carrier may choose not to provide a renewal offer to an insured for reasons such as excessive claims activity or other permitted underwriting reasons. In keeping with state regulations such a decision will be conveyed to you before formal cancellations procedures are initiated.

Cancellations - Send original policy or lost policy release with your request for cancellation. All cancellations and return premiums will be acknowledged by you and processed as entries to your production statement. You will return premiums due to the insured. Policies will be cancelled pro-rata as of the date Big "I" Markets receives a valid cancellation request. No flat cancellations for non-payment are permitted.

Claims Reporting

To provide policyholders with better claims service, please report any claims or related questions to:  A&M: 1-888-263-2922
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​127 South Peyton Street
Alexandria VA 22314
​phone: 800.221.7917
fax: 703.683.7556
email: info@iiaba.net

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