The Importance of Comprehensive Submissions

Female insurance agent working with young couple in office
August 2, 2022

Our Statewide underwriters are eager partners ready to help your agency grow its book of business. A complete underwriting submission helps your underwriters quickly and efficiently rate your new business resulting in faster turnaround on quotes. Missing information on Statewide or ACORD applications significantly delays the underwriting process and causes additional efforts by all parties. We understand that your time is valuable and there may be deadlines for replacing coverage, which is why we urge our agencies to provide all necessary information at the time of submission. Let’s think of this process like a puzzle: If pieces are missing, we might be able to understand the image, but to see the full picture we need all the pieces. Your agency and Statewide alike share the same goals to provide excellent customer service and proper coverage on all risks that we insure and the importance of receiving all underwriting information is crucial to reaching these goals.

Don’t hesitate to call your underwriter to discuss and pre-qualify a risk if you are unsure about the exposure fitting into our programs.

Items to Submit with an Application:

  • Fully Completed Application
  • 5 Year Valued Loss Runs
    • If losses have occurred, please provide details on the loss as well as details on corrective actions the insured has taken to prevent a similar loss from occurring
    • If submission is a new business venture, please provide insureds applicable experience
  • Expiring Premium
  • Reasons for Submission
    • (i.e. current carrier rate increases, non-renewed, changes in terms or conditions, unhappy with current carrier)
  • Target Premium
  • Most recent sprinkler flow test (if the building is sprinklered)
  • Square footage for each exposure – if there are multiple exposures in the same building

Authors & Contributors: Kim Dickson and Jessica Mulligan

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