UWR
What review's do we require a IR (inspection report)?
Vendor reported loss and foreclosure.
What payment plans do we offer
Annual payment plan
3-payment
5-payment
10-payment
Mortgagee pay
What day do we mail out checks for RP?
Monday - Friday
Does Bamboo have an online portal for our named insureds
Yes we do, if they are set up on e-delivery.
But they are only able to check documents, if they are wanting to make a pmt, they need to go to www.bambooinsurance.com, and select "make a payment"
How do you change a Risk Address and do you process the change right away
Start an Endo, Submit a Additional Review ticket for a TL (Team Lead) to Review and wait for TL approval to finish the Endo.
What do we require for a TIV limit review?
We need the insureds contact information, email address, DOB and phone number.
What fees does Bamboo have?
$70 New Business and Renewal Business
$10 instalments
$25 NSF
$10 Late Fee/ Reinstatement fee
2.78% for card fee
How many days after a check is issued that we can resend out the check?
30 days after a check has been issued
What if the named insured does not have a New Home Inspection Report, can we accept anything else?
We can also accept the appraisal.
Are we (US AS ADVOCATES) able to approve any review on an E&S program?
We are unable to review any of the E&S program reviews. We are able to make changes on the E&S policies like the admitted products.
What would we require for a VRLH review if the loss is for the same address but different named insured?
We would require most likely an inspection report or appraisal.
If the insured can get the LOE for that loss specifically we can take that, photos and receipts from a licensed contractor. (If there was a pay out)
What are 2 additional scheduled personal property coverages that can be added to a policy?
Jewelry, Furs, Cameras, Musical Instruments, Silverware, Golfers Equipment, Fine Arts, Postage Stamps, Rare and Current Coins, Fire Arms
When entering in an RP check request ticket, what steps should you put for finance to reissue a check?
"REISSUE RETURN PREMIUM"
And make sure to check with NI or AG that the MA on file is correct.
Can we update the 360V to have a pool on the property. And if we can what are the details needed in that email?
Yes, we would need an EM stating that there is a pool on the property and then we would send to our underwriting team to review and make the changes to the 360V
Details for EM: size(sqft), photos, materials of pool
How do agent get discounts applied to the account?
The AG will need to email discounts@bambooinsurance.com with documentation for the discount they requested.
All discounts will be pro-rated to the correct date. And is taking approximately 2-3 BDS to be applied to the policy.
What ticket would you use to order a virtual inspection?
Underwriting - Non-Renew/ Additional Unbound Review Ticket
What kind of heating is acceptable in a home?
If the heating source is thermostatically controlled and not listed under unacceptable risks in our guidelines, then it is fine.
Examples of unacceptable heating sources: Dwellings with wood, coal, pellet, or kerosene stoves or space heaters that are the main source of heat, whether or not permanently installed and whether or not thermostatically controlled
Can Return Premiums be sent back to a credit card/debit card or to the routing and account number
No all Return Premiums are sent out via check through regular mail. And MAY take up to 30 days before it is received in the mail.
How do we request to update the Roof Year
Need the photos and invoices/ permits
How do we add a second Named Insured to a policy?
Do the Named Insureds share the same last name
Yes - we can add with no documentation
No - We need a copy of the deed/title (needs to be signed and notarized) to complete the change. Or we could take a signed closing document.
What are the time turn around times for underwriting reviews?
VRLH TAT: "This review may take up to 21 business days from the time UW is notified that we have received all needed items. If the review goes over 30 calendar days without being completed, you may contact us so we can check on the status."
All other UWRs TAT: "The average handling time for all other underwriting review is 1-3 Business Days (BDs) and you will receive an email stating whether the review has been accepted or rejected."
Is coverage C in a HO3 an opened or named peril
Named, section 12.1
Which ticket would you use to submit a payment to be voided out today?
Same Day Void ticket.
This is only if the pmt has been submitted TODAY.
Can we waive the 2.78% fee one time?
No this is a 3rd party fee, not a bamboo fee
How can we change a NI name on a policy
We need a copy of the DL, legal docs(marriage cert)