Policy Life Cycle
Typically reviews risk and decides whether to accept a policy
Who is the underwriter?
Three of our primary customers.
What is the insured, retain agent or Wholesale agent?
This type of endorsement adds or removes coverage for an owner/ officer under a workers comp policy.
What is an officer inclusion/exclusion endorsement?
AIP stands for this.
What is Audit Installment Plan?
First step the insured should do with their insurance company when an accident occurs.
What is report the claim?
To officially activate a policy.
What is bind?
Smartpay is one of these.
What is an outside vendor?
True or False: When a new location is added to the business, this will not require an endorsement.
What is false?
DOI stands for this.
What is date of injury?
This team determines if a claim will impact future renewals.
What is underwriting?
This happens after policy expiration date.
What is an audit?
Only these two parties can access loss runs.
What is the insured or AOR?
Endorsements are usually requested by one or both of these parties.
What is the insured or agent?
NOC stands for this.
What is Notice of Cancellation?
This document helps show trends in loss history.
What is a loss run report?
This date is the official start date of the policy.
What is the effective date?
This party can quote and bind policies.
Who is the AOR / Wholesale Agent?
This endorsement can occur when business adds new operations.
What is a class code change?
BPAS stands for this.
What is Berkley Premium Audit Services?
Safety measures should be implemented when this happens.
What is frequent injuries or accidents on the job?
These two things can occur any time during the policy period.
What is a claim & an endorsement?
Overland Solutions is one of these.
What is a vendor?
Two reasons why an endorsement may be needed on a workers compensation policy.
What is new location added, payroll changes, business operations changes, officers added or excluded, change in ownership, class code changes, name or address changes?
BB is the acronym for this.
What is Berkley Beyond?
What is severity, frequency or outside of expected operations?