Small Commercial

August 25, 2009

The Best Way to Get Fast Binding of New Cases

Murphy's First Law of Insurance: The risk you must get bound today will be delayed.

True, or does it just seem that way? Like you, we know that any risk delayed can be a problem for you and your client. And, like you, we always look for ways to improve the process.

Honestly, one of the biggest causes of delays in binding is that we receive incomplete information and must engage in back and forth correspondence and calls to get everything submitted.

So, let's take a look at where things get off the track most often. You may want to keep this as a handy checklist.

QuoteExpress Online Binders

For standard carriers we must have:

• Signed binder request (can be printed when you submit the binder request)
• Signed ACORD applications (will print with above binder request)
• Supplemental applications - only if they print with the binder request
• 3 years loss runs (or no-loss warranty letter if no prior insurance)

For E&S carriers we need:

• Signed binder request (can be printed when you submit the binder request)
• Signed ACORD applications (125 for all submissions, 126 for General Liability, and/or 140 for Property)
• Supplemental applications - only if they print with the binder request
• 3 years loss runs (or no loss warranty letter if no prior insurance)
• Signed TRIA (terrorism form - applies only to Nautilus and Atlantic Casualty and will print with your binder request)

Manual Submissions Binders

Combined Group requires the following to bind all manual submissions:

• Signed Quote Proposal
• ACORDS, signed by the insured (updated to have correct effective date and coverages, if necessary)
• Any supplemental included with the quote
• 3 Years loss runs (or no-loss warranty letter if no prior insurance)
• Signed TRIA (terrorism form - applies only to Nautilus and Atlantic Casualty)

Got questions? Twila Turner can help you anytime. Call her toll-free at 1-800-275-3193 ext. 721, or email tturner@combinedgroup.com. Meet the whole Small Commercial team here.