Deck 1 Flashcards
Agent rated an intrastate-only towing risk in FL with single state filings. Removing them decreases the premium <10%.
Quote with filings and leave note for renewal team to remove filings at that time. T/c no filings and send follow-up email to agent letting them know risk was quoted without filings. Don’t send filing request to filings department if bound.
Updating the garaging ZIP to match PO’s MVR address increases premium on trucking risk >10%.
Quote with revised ZIP and send follow-up email to the agent letting them know why price increased; e.g. “The primary officer’s MVR address presents Atlanta exposure, so we have to take this into account.”
You have a contractor risk with a few drivers for which the wife of the PO isn’t scheduled, but she’s the registered agent per SOS. Adding her w/ a DOB assumed to be similar to the PO’s and assuming a clean MVR changes the premium <20%.
Quote without the wife and t/c she has a valid license and a clean MVR. Send a follow-up email letting the agent know we’ll need her DL# and DOB at binding. Pull an MVR if the policy binds. If the change in premium is still within the threshold, don’t add as a driver and leave note for the wife to be added at renewal.
Agent rated entity type as an LLC, but it should be rated as a corporation. The correct entity type changes the premium within the threshold.
Quote with the wrong entity type (LLC) and leave a note for it to be fixed at renewal. If the policy binds, manually issue the policy in NIFIS and switch it to the correct entity type there.
Agent rated entity type as an individual named insured, but it should be rated as an LLC.
Update to reflect that the entity is an LLC. There’s no option to manually fix this in NIFIS if coverage binds.
Agent rated a NV as having been operating for a year, so the experience rating credit is applied. Between fixing the business start date, removing the credit, and applying the insurance score, the new premium is within the threshold.
Quote at the Breeze pricing and leave a note for these to be fixed at renewal.
The agent rated a dump risk that’s been operating for a year as having 0 liability losses, so the experience rating is applied. However, the insured had an accident inspected under their authority a few months ago, but no injuries or fatalities were reported.
Quote as the agent rated, and send a follow-up email to the agent letting them know that we’re quoting under the impression that the inspected accident was NAF. Be sure to make it clear that the agent should send you loss runs prior to binding coverage if there are any claims currently showing.
The agent rated a trucking risk with experience online as having had 3 liability claims within the last 3 years.
If no other red flags (multiple inspected accidents, inspected accident for which an injury/fatality was reported, etc.), refer to a supervisor stating your position as to why you think we can quote without review of the loss history in this case.
Agent rated a 7 power unit risk that’s been operating for 5+ years with no losses, so the experience rating is applied.
Request 3-5 years of loss runs, as these are still required for all submissions with 6+ power units prior to quoting. We wouldn’t be able to review loss history after binding in this case.
Agent rated a trucking risk that’s been operating for a few years with 0 losses, so the experience rating is applied. However, the insured had an accident inspected under their authority last year for which an injury was reported.
Ask for 3 years of loss runs. Injury/fatality accidents carry a greater risk that the clam was AF.
Agent scheduled a N/O trailer with a stated value of $30k and deductible of $1k.
Delete the N/O trailer and replace with $30k T/I coverage and a $1k deductible (no written agreement). Send a follow-up email with the quote letting the agent know the change that was made and that we don’t cover N/O trailers.
Agent rated a general contractor with HNO.
Remove the HNO, and send a follow-up email with the quote letting the agent know that we released a quote for symbol 7 only and won’t be able to offer the HNO given the nature of the insured’s business operations.
You make changes to a duplicate submission that you’ve already quoted, and the overall changes increase the premium within the threshold.
Quote at the revised pricing, as the liability premium needs to match what was already quoted.
You make changes within the threshold, leave a note for renewal, and release the quote matching the Breeze indication. The agent then comes back asking you to add a vehicle.
Add the vehicle and leave the rest of the changes for the renewal team.
You make changes within the threshold, leave a note for renewal, and release the quote matching the Breeze indication. The agent then comes back with loss runs showing more losses than what were originally rated for.
Make the changes and update the experience rating/driver points accordingly.
