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THE UNDERWRITING PROCESS
Many insureds, and agents, rush through
this stage and are stuck
with higher pricing and inadequate coverage. At AH&T we strive
to develop superior underwriting submission packages that capture
the attention of the underwriter and elicit better terms and conditions
on your behalf. It is certainly understandable that many business
people think of insurance as a commodity and want to rush the
process of obtaining a quote. However, whenever possible, we will
work with you to develop a more comprehensive submission that
makes an underwriter more comfortable with the coverage and limit
they are offering. Examples of information that can be helpful:
- Copy of your insurance claims history for the past 3-4 years,
if any.
- Complete list of locations and description of building type
(construction type) as well protective safeguards.
- Map of locations where you may have multiple buildings, such
as government facilities.
- List of motor vehicles with ID information, locations and
usage.
- List of payroll, by Workers' Compensation classification,
by state.
- Copy of loss control programs or materials you are using.
- ACORD™ applications (AH&T completes these) which
are industry-accepted applications that contain suggested classifications
and rating information for underwriters to use.
- Specialty applications (e.g. Errors & Omissions or Directors
& officers Liability) and copies of standard contracts and
financial statements
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