Submissions
Underwriting
Compliance
Rating
Potluck
100
When submitting turnover/revenues with a GAB submission, what currency should be used?
US Dollars
100
What form is used on a US admitted underlyer policy to restrict coverage and suits to the US only?
Coverage Territory -Scheduled endorsement
100
What sources of documentation for pricing modification are acceptable?
Broker Applications, Websites, Company Financial Statements, Loss Control Reports
100
What are examples of possible US GL rating exposures?
Area, Sales (Revenues/Turnover), or Payroll
100
Where can you find "Did you know?", Broker of record procedure and Additional Insured information for the reverse flow business ?
GAB website
200
For which line of business can GAB provide a non-binding premium indication?
General Liability
200
What do Employees, Real Estate Managers, Vendors, Lessors of Equipment and Lessors of Premises have in common?
They are included in “Who Is An Insured” under the GL contract.
200
Why do locations have different premiums for the same exposure and class code?
Premium is calculated on state filed rates
200
Name at least 2 items provided by a US broker in order to rate Workers Compensation.
Class Codes, payroll, state or location, and experience Mod
200
what documentation is required when a request is received in the US to change a broker?
Broker of record letter
300
What are the two lines of business that require having a US Broker identified with the submission?
Auto & Workers Compensation
300
Name two US cities that have TMZ (Terrorism Management Zones) requiring Home Office approval prior to quoting?
Downtown New York City, Washington DC, Chicago, Boston, Los Angeles, Philadelphia and San Francisco.
300
In what state are we required to be 100% compliant?
All states
300
Name 2 items required to rate hired and non-owned auto coverage.
Cost of hire, number of employees, state of hire
300
What do the following types of risk have in common, food, retail trade, high hazard auto parts, aircraft parts and equipment?
Risk class R
400
What four digit number is used to classify the highest hazard exposure of the risk?
SIC (standard industrial classification)
400
What is the preferred method to include a parent company for coverage on a US GL contract?
On an Additional Insured – Controlling Interest endorsement
400
When is a conditional renewal notice required?
When there are changes in pricing and/or terms & conditions.
400
What is experience rating?
A modification applied based on loss history (WC and Auto)
400
Where can you view US policy contracts and forms.
Chubb.com
500
Name at least two items of underwriting information that should be included with a new business submission.
Information about global program, loss history,analysis of risks exposures and controls, loss control report (if one exists).
500
What is the good local standard for defense coverage on a US contract?
Defense outside of limits.
500
How many days do we have to issue a NY policy without incurring a fine?
18 days from the effective date.
500
Approximately how many US GL rates does Chubb have filed in the US?
70,000 (1400 GL class codes x 50 states)
500
Which two lines of business are subject to premium audit ?
General Liability and Workers Compensation
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