Property & Casualty
The acronym used to evaluate a property risk
COPE Analysis
Amwins is an example of this type of firm, which places business between brokers and insurance carriers
Wholesale Broker / Wholesaler
The tax owed to the insured’s home state of E&S premium since surplus lines aren’t licensed/admitted.
Surplus Lines Tax
Who is the best and largest wholesaler?
Amwins!
This is the amount a policyholder pays before insurance begins to pay.
Deductible
Policy that covers three broad categories of claims including bodily injury, property damage, and personal & advertising injury.
General Liabilty
Chubb is an example of this type of insurance company, which underwrites and issues insurance policies.
Carrier / Market
What is the process of requesting pricing and coverage terms from insurance carriers?
Marketing the account
What 3 practices/lines does Amwins Brokerage do?
Property, Casualty, Professional Lines
The person or entity protected by an insurance policy.
The insured
A report generated by an insured that shows all the claims on account over a period.
Loss Run
Alliant is an example of this type of firm, which represents the clients being insured and helps them secure insurance coverage from insurers
Retail Broker / Retailer
A market segment wholesale brokers place business into when a risk can't get standard/admitted coverage.
E & S Market
What year was Amwins founded?
2001
This term refers to a loss that is not covered by a policy.
An exclusion
A spreadsheet that lists all insured locations and their values that brokers consistently analyza
Statement of Values (SOV)
SLA is an example of this type of firm, which reviews surplus lines filings, helps ensure regulatory compliance, and collects surplus lines taxes and fees.
Stamping Office
90 to 120 days before the policy expires, Amwins begins working on a (blank) to continue the account with the retailer.
Renewal
What city is Amwins headquartered in?
Charlotte, NC
This type of insurer is licensed in a state and backed by state guaranty funds.
an admitted carrier
(Total incurred losses / total premium) x 100
Loss Ratio
Delos Insurance is an example of this type of insurance firm, which has authority from insurance carriers to underwrite certain types of risks on their behalf.
Managing General Agent / MGA
A retail broker tells Amwins they want to proceed with a specific quote. What item occurs afterwards?
Binder / Bind Order
How many divisions does Amwins have?
5! Brokerage, Access, Underwriting, Benefits, Global Risk
What is the birthplace of insurance?
Lloyds of London