UWR
Which reviews can we approve once Underwriting requests additional documentation and we’ve received it?
Debris, Pool, and Overhanging tree.
What payment plans do we offer
MTG Billed
Annual - Full Pay
3-Pay
5-Pay
10-Pay (HAS TO BE ON AUTOPAY)
TX:
Annual - Full Pay
3-Pay
10-PAy
MTG Billed
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.
How do you change a Risk Address and do you process the change right away?
No, you do not do it right away. Submit an RA ticket in SharePoint for all unit number changes. New policies can have the unit number added in Guidewire. For migrated policies, Underwriting will review if the change can be made. Let the agent know we'll email confirmation if approved, or they may need to requote.
What does UW require for a Coverage A reviews?
Declaration page from previous carrier, and/or RCE from different carrier.
What fees does Bamboo have?
Admitted:
$70 Policy Fee
$25 Cancellation Fee if cancelled Midterm
Non-Admitted:
$150 Policy Fee
$125 Broker Fee
$250 Cancellation Fee if cancelled Midterm
Minimum earned premium
How many days after a check is issued that we can resend out the check?
30 days after a check has been issued
How do agents get assistance with BOR, Agency Changes, Ivans Downloads, etc?
Submit a request through: https://bambooinsurance.com/agency-requests/
What request requires for the endorsement to stay open until the document is signed and completed?
E-Delivery.
What would we require for a Loss Dispute review if the loss is for the same address but different named insured?
Please upload drivers license for all insureds and a list of previous addresses
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
Always check GLs to confirm with carrier
When insured states they never got the email for the RP for Guidewire, what should we check?
That there is a primary number selected and/or correct mailing address is on the account level in billing center.
Can we update the 360V to have a pool on the property?
Yes, we would need an EM stating that there is a pool on the property and then we will submit an activity to UW to add it. We need details on the email stating the 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 need to be revalidated every year.
What would we require for a Loss History review if the loss is for the same address but different named insured?
1.4 Exterior sides of the home
1 photo where we can see the roof & determine condition
Kitchen including cabinet under the sink
Kitchen cabinets and counters
Bathroom(s) including under vanity cabinet
Flooring throughout the home
Any detached structure
Fence
Fireplace(s) or spa if applicable
2. Letter of experience from prior carrier explaining the details of the loss and the repair details.
3. Receipts from licensed contractor showing repair details
OR
A NHIR
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
Yes, only for Guidewire. Britecore is still a paper check.
How do we request to update the Roof Year
Need the photos and invoices. Submit an activity to UW once we have them.
How do we add a second Named Insured to a policy?
If married, and share the same last name, no documents are needed. If different last name, we need marriage certificate or title/deed showing them on it.
If not a spouse, we need a title/deed, finalized escrow loan document/loan documents, and notarized legal documentation.
What are the time turn around times for underwriting reviews?
The average handling time for all other underwriting review is 1-3 Business Days (BDs) and you will receive an alert stating whether the review has been accepted or rejected.
Is coverage C in a HO3 an opened or named peril
Named, section 12.1
When and how do we ask finance to reverse a payment?
Same day void payments, submit a ticket on Sharepoint: Same Day Void
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 can accept a valid or expired ID (such as a Driver’s License, Birth Certificate, Marriage Certificate, or Social Security Card) along with notarized legal or court documents that show the name change.