Skip to Content
New Business Procedures
- Upon receipt of order, convert Prospect to Customer in agency management system.
- Create ID cards, Evidence of Property Insurance, Binders or other items and give to producer for delivery to client and/or lender, bank, additional insured, etc.
- Transmit application, payment, and pertinent documents to carrier immediately using company memo.
- Create activity created in system and suspense for 30 days for receipt of policy.
- Create paper file for permanent records or scan and attach to client e-file.
- Send thank you note to customer.
- When policy is received from company, either via download or by mail, open customer file and update application by entering policy number.
- Review policy against application and system information for accuracy.
Items to check include:
- Carrier and policy number
- Named insured (make sure it is complete)
- Description of operations
- Type of entity (individual, corporations, LLC, etc.)
- Effective and expiration dates
- Retroactive date if claims-made policy
- Rates and premiums
- Minimum earned premium
- Minimum premium
- Limits of liability (including aggregates, if applicable)
- Deductibles and self-insured retentions
- Property valuation clauses (ACV, Replacement Cost, Agreed Amount)
- Covered auto symbols
- Classification codes and exposures bases
- Experience modification (Workers Compensation only)
- Description of property covered including scheduled items
- Review all endorsements
- Any unexpected endorsements?
- Any restrictive endorsements?
- Any missing endorsements?
- Any reductions in coverage or increased deductibles?
- Any state-specific endorsements missing?
- Any endorsements requiring signature (e.g. UM waiver)?
- Commission amounts
- Enter premium amount and bill if necessary.
- Send form letter to client along with policy or deliver policy (and bill if necessary).
- Clear suspense.
Director of Professional Liability