These are 705 Insurances underwriting Guidlines

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Underwriting guidelines ensure consistent marketing of quality insurance accounts, satisfying individual market appetites while protecting clients by ensuring the right risk is in the right place with appropriate coverage. Underwriting guidelines will be modified from time to time to adapt to changing market conditions. All accounts will be audited to ensure marketing guidelines are being adhered to.

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Internal underwriting guidelines supersede all company underwriting guidelines. Underwriting approval from an insurance marketing does not make a risk eligible that is listed as a decline in our rules.

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DECLINE- Any account bound in violation of a DECLINE rule will be coded to House Account and resulting new business/renewal commissions will not be paid to the producer. Accounts may also be subject to cancellation by registered letter.

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REFER - All REFER risks must have an approval note from the designated managing partner prior to binding. Any account bound in violation of a REFER rule without written approval will be coded to House Account and may resulting new business/renewal commissions not be paid to the producer. Accounts may also be subject to cancellation by registered letter.

 

When submitting the REFER request, ensure you have a complete Attached approval email with your submission.

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All business must first meet the eligibility criteria as outlined by the underwriting manual(s) available for each of our insurance markets. Incomplete and inaccurate submissions to the new business team will be subject to House account coding.

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TIMELINES – All Risks must be submitted to the new business team for processing within four days of application being signed by client, and no later than one day after effective date.

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**Applications may not be signed after policy effective date.

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Signatures All New business applications or cancelation of policy or endorsements that remove or reduce coverages, must be signed by all names insured.

 

Adding new lines or additional coverage only requires one of the named insured signatures.   

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STANDARD MARKETS - Intact, Aviva, Gore, Travelers,

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NON-STANDARD MARKETS – Jevco

• Payment of 20% or the first 3 months of premium must be collected before binding any agency bill. Brokers will be personally responsible for any outstanding premium owed.

Deductibles – Minimum $1000 deductible on all Auto, Property, Motorhome, and Motorcycle policies, Minimum $300 on ATV Travel trailers boats. Minimum $1500 on motorcycle valued over $25000

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All Auto Policies submission – Must be accompanied by all supporting documents,

• All signed applications (signed by all named insureds)

• Auto Plus report & MVR

• A clear photo of all ownerships

• Sign and date Pre-authorization form

 

 

All Business - House Rules

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DECLINE - Any business with two (2) or more cancellations for non-payment in the past three (3) years placed with a standard market. These risks may only be placed non-standard.

DECLINE – Any business with a liability limit below $1,000,000

DECLINE - AUTO Any Major or Criminal conviction in the last 3 years

DECLINE - AUTO Any risk that presents a $0 Premium value in Applied Rating Service

DECLINE - AUTO – Any risk with a G1 named insured or principal operator. If G1 named insured is a secondary operator, principal operator must be legal spouse.

DECLINE - AUTO – Any standalone Facility policy

DECLINE - AUTO - 2 or More AB losses of any kind appearing on the Auto Plus (regardless of who the driver was or fault determination) in the last 10 years

DECLINE - AUTO 28A (unless the excluded driver is written within the office)

DECLINE – PROPERTY- Broad form Tenants policies

DECLINE – PROPERTY - Tenants policies with less than $30,000 in content coverage

DECLINE – PROPERTY - Tenants policies with deductibles greater than $1,000

REFER - PROPERTY – Any risk without Sewer Backup or Water Damage Coverage

REFER - AUTO - 4 or More losses appearing on the Auto Plus of any kind (regardless of who the driver was or fault determination) in the last 10 years

REFER - AUTO - Any At-Fault auto claim in the last 5 years, Must go to non-standard market

REFER - AUTO - Any single AB loss in the last 5 years

REFER - AUTO / HOME when not speaking directly with the named insured

REFER - AUTO - Any situation where the named insured is not a listed driver on the policy

REFER - MTCY - Standalon`e Motorcycle or recreational vehicle.

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Ownership – All Submitted auto policies must be accompanied photo of full ownership (front and back) as well as a Bill of Sale on new purchases. The application must be written in the name of the insured that appears on ownership. If ownership is not yet transferred to Insured's name, submit current ownership with notes that Insured has 10 days to provide a copy of new ownership once transferred.

 

Market Specific

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Aviva Canada

REFER – Standalone Motorcycle DECLINE – Quote message reads ‘Refer to the company’

DECLINE – Any policy that was canceled for non-payment in the last three years

DECLINE – AUTO with any loss in the last three years for any Driver in the household

DECLINE – AUTO – Principal Operator < 25 Years of age unless accompanied by a condominium or homeowners policy

DECLINE – AUTO – Driving record 0,1,2 & 3, unless accompanied by a condominium or homeowners policy (or supporting family cross-referenced business with same) *Graduated Licensing Discount, will not be given without proof of completion in the graduated licensing program.

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Intact Insurance

DECLINE – Auto – Driving Record 0, 1 & 2 – Unless Driver Training completed in the last 3 years (Certificate Required) or accompanied by a condominium, homeowners or tenant policy (or supporting family cross reference business with same).

DECLINE – Any Risk with refer message “Do Not Bind – Application’

DECLINE - Standalone Motorcycle

 

Gore Mutual

DECLINE – Any risk that displays the “refer” message in applied auto rater.

 

Jevco Insurance

DECLINE – Any risk that displays the “refer” message in the applied auto rater.

DECLINE – Any risk that qualifies for Intact auto policy

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Max Insurance

Coming soon

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Travelers (Dominion)

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Wawanesa

Coming soon