1. . www.InsuranceCommunityUniversity.com Insurance Submissions and Proposals

2. . www.InsuranceCommunityUniversity.com Disclaimer Not only are policy forms, clauses, rules and court decisions constantly changing, but forms vary from company to company and state to state. This book is intended as a general guideline and might not apply to a specific situation. Information which is copyrighted by any proprietary to Insurance Services Office, Inc. (“ISO Material”) is included in this publication. Use of the ISO Material is limited to ISO Participating Insurers and their Authorized Representatives. Use by ISO Participating Insurers is limited to use in those jurisdictions for which the insurer has an appropriate participation with ISO. Use of the ISO Material by Authorized Representatives is limited to use solely on behalf of one or more ISO Participating Insurers. The author and any organization for which this seminar is conducted shall have neither liability nor responsibility to any person or entity with respect to any loss or damage alleged to be caused directly or indirectly as a result of information contained in this book. Contact Info: 714.206.9583

3. . www.InsuranceCommunityUniversity.com What This Course Will Cover Insurance Proposals and Submissions the Basics Account Review—Identifying Exposures Proposals Marketing and Applications Submissions by Line of insurance Binders Policy Review/Summaries/Renewals 3

4. . www.InsuranceCommunityUniversity.com Insurance Proposals and Submissions the Basics Standard of Care 4 Based on Regulations To the Insurance Customer To the Insurance Company

5. . www.InsuranceCommunityUniversity.com Standards of Care—the Basics Based on Regulations Compliance with such issues as GLBA, Privacy Acts, authority as an agent/broker To the Insurance Company Broker /Agent—does it really matter? That the submission qualifies for the insurance carrier That you are honest and accurate To the Insurance Customer Ordinary care to obtain the coverages they have requested 5

6. . www.InsuranceCommunityUniversity.com Standards of Care—the Basics The submission for insurance is the culmination of several steps in a process  Acquire the customer  Broker of Record—Obligation?  Brand New Insured—We do a better job  Brand New Company—a guessing game 6

7. . www.InsuranceCommunityUniversity.com Standards of Care—the Basics Identify exposures to risk that can be transferred to insurance Identify exposures to risk that can NOT be transferred to insurance—the competition does this Gather all the necessary information—they assume you know  Values/locations  Payroll/Drivers 7

8. . www.InsuranceCommunityUniversity.com Account Review—Identifying Exposures 8

9. . www.InsuranceCommunityUniversity.com Account Size May Dictate Process Whether small or large premium, all deserve and expect a certain level of service Agent/broker may differentiate based on size of account: small, mid, large  This will differ by agency/brokerage  Procedure manual should specify procedures  All staff should follow 9

10. . www.InsuranceCommunityUniversity.com Account Size May Dictate Process Small Limited Marketing Eligibility Application Cover Letter Mid Size Account Review Coverage Analysis Marketing Proposal Coverage Summary Supporting Documents Large More Detailed More Options More Policies Risk Survey Independent Inspections, etc 10