Audits
T/F - To pull an audit dec I need to complete a Pull The Dec request in OnBase.
False - Audit decs are delivered to Corinne in Bay 110 every day. Send Corinne an email to hold the dec from being mailed.
What is: on the effective date or as a corrected renewal.
T/F - if an UW imports the email or creates the EForm for a COC, I do not need an approval stamp to proceed with processing.
What is: False - every COC needs either a note stating it is approved or an approved stamp.
In what state do we only order Voluntary, Insurance Audit Services audits?
What is: Pennsylvania
Fill in the blank: Insured request cancels must be submitted on an ______ form and ______ by the insured.
What is: Acord - signed.
If not signed - send info email and process with no trans.
If not on Acord form - send to UW for approval.
Name the premium threshold for ordering voluntary GL audits.
What is: $1,500 - $7,499
Name the $ threshold for new individual Inland Marine items that need Underwriter approval.
What is: >$200,000
When changing the IRPM on a policy what wording should be used on the policy change form in CPS?
What is: Adjusted premium
T/F - All of the following exposure basis are auditable: Sales, Units, Payroll.
What is False. Units are not auditable.
Auditable: Each, Sales, Payroll, Total Cost.
Not auditable: Area, Units, LOI
What is the date of Easter this year?
What is: Sunday, April 20th
In what state do we currently not order audits?
What is: Ohio
T/F: Associates can approve all IRPM's up to 15%.
What is: False- if the GL class is outside of their authority it must go to the UW to be approved, no matter the % IRPM requested.
T/F - It is acceptable to use the term "Full coverage" on the policy change form in CPS.
What is: False, we should be spelling out what coverages are added. EX. ADDED 2010 FORD F250 (2561) W/ LIAB, MED, UM, UIM, 500 COMP/500 COLL.
T/F - Physical audits can be ordered by special request from the UW.
What is: True
How many total phone calls were received on the assistant ACD line for the month of February?
100 bonus points: How many RONA's for the month of February? (must be within 5)
What is: 1393
What is: 54
Should an audit be ordered for a policy that cancels/non-renews for failure to comply with audits?
What is: No. New addition to the audit ordering guidelines.
Do not order on:
Premium is below $1,500 (BOP/GL), GL with trucker only class 99793, cancelled for non-pay, cancelled for not complying with audits, policy term is less than 3 months.
T/F - WC change to increase limits to 1mi/1mil/1mil needs to go to the UW for approval.
What is: False - Associates can approve these changes.
What is missing from this policy change description in CPS? (Hint: 2 things): REDUCED BUILDING COVERAGE AT LOC 004
What is: Missing the value and building number. EX: REDUCED LOC 004 BUILD 001 TO $415,000. We need to be sure we are being specific with the information that was changed, as this one sheet might be the only thing the agent/insured sees on the change.
If one co-file is set to non-renew and the other is not, when should the audit be ordered for the account (Assuming both policies are subject to audit)?
What is: When nonrenewal is processed. The non-renewed policy will not show up on the options to order at the next renewal since it will not be an "active "policy. We would also want to be careful about ordering another audit when the renewal for the active policy is renewed. CPS does not review OnBase for pending audit requests - this must still be reviewed manually.
Name the %age of dec limit used if expenses/receipts are not listed on a change to Equipment Leased and Rented.
What is: 10%
Ex. Please add $50,000 coverage for Euipment Leased and Rented. Use $50,000 for Dec Limit and $5,000 for Expense. (10% of dec limit)
What is the current premium subject to audit for policy 0000738089?
200 bonus points - should an audit be ordered when processing the 25-26 renewal? If yes, what type, what company?
What is: $2176
What is: Yes, Vol, Accelevant (MO policy)
State the two groupings of trucking class codes. (Last two digits of the class codes).
What is: 21 - 29 and 61 - 69
Name two things an assistant must do when helping an agent obtain specific rates for a quote?
What is:
-Make sure they have UW approval to quote the risk.
-Import spec rate information into OnBase as Agent/UW Correspondence.
What is the price difference between a Hybrid and Mail (Vol) audit through Accelevant?
What is: $40. Hybrid is $59 per hr. Mail/Vol is $19 flat rate.
This is one example of why it is so important to make sure we are ordering the correct type of audit. This can really add up fast.
Name 3 VP's on Grinnell Mutual's Senior Leadership Team.
Who is:
Lauren Augustin - Strategy & Innovation
Kevin Farrell - Reinsurance
Chris Hansen - Finance
Michelle Hutchison - Assurance, Advisory, and Accounting
Kevin Kies - Direct Claims
Rick Osborn - Actuarial Services
Steve Scherf - Underwriting, Sales, and Service
Bill Simonaitis - Legal and Corporate General Counsel
Jeff Vogts - Talent Development