Policy Changes Procedures

  • If policy change is requested by anyone other than a named insured, make no material changes to policy until confirmation is obtained from the insured.
  • When client contacts agency to make policy change, open client file and update client information. Review entire account for any impact the change will make on other policies (e.g. umbrella and excess liability) and for opportunities to cross-sell.
  • Request policy change from carrier using company memo. (NOTE: if coverage is placed with a non-standard carrier, contact company by phone to obtain authorization for change since agency does not have binding authority, then follow up in writing).
  • Confirm change request in writing with insured using form letter.
  • Send ID cards, Binder, Evidence of Property Insurance, or Certificate of Insurance as applicable.
  • Suspense for 30 days for receipt of endorsement.
  • When endorsement is received from company, verify for accuracy and update client file.
  • If endorsement is incorrect, request correction from carrier and forward appropriate documentation. Suspense for receipt of correction if necessary.
  • If incorrect endorsement was sent directly to insured by carrier, notify insured that correction has been requested.
  • Process billing, if necessary.
  • Transmit endorsement and invoice to insured using form letter, including due date for premium payment.
  • Clear suspense.