Renewal Rewind
What type of semi-automatic renewal is exclusively reviewed by underwriters (not associate underwriters?)
Renewals with loss
These forms can extend up to $5K coverage on unscheduled outbuilidings.
BCEE and BCEEPlus
Why do we need to pre-qual a risk before adding it to a policy?
We need to determine the risk's eligibility and make sure that it fits within our guidelines.
What is the one policy in CL that no one wants to open?
We Close The Deal
Describe what LRO (lessors risk only) is.
Lessor's risk insurance only helps protect the property owner if a tenant files a lawsuit against the landlord due to bodily injury or property damage. Without LRO insurance, a landlord may have to pay out of pocket for costly tenant lawsuits that could come up unexpectedly.
Which British royal couple got married in 2018 and welcomed their first child, Archie, in 2019?
Prince Harry and Meghan Markle
When should you run a new ITV at renewal?
If the renewal was marked for review due to low building limits, or a policy has not had the ITV run in the last five years.
This form can exclude outbuildings from a property.
VB1420
What items do we need to find in the prequal process?
Location Search, Aerial View Photo, Street View Photo, Real Estate Photos, exterior and interior (if possible), Tax Card, Corp Filing if it's an LLC (found through the Secretary of State website), Betterview/Nearmap, No Smoking lease language and loss runs, depending on the risk.
No, because when we migrate to Summit, Summit will not be able to support multi state policies.
What type of space heater would be ineligible?
Unvented space heaters.
Which country is credited with the invention of modern downhill skiing?
Norway
When do you need to print in a Cat Score Card?
When the policy is Tier 1, Tier 2 or Tier 3
This form is the Business Owners Special Property Coverage Form
BP0002
We will not write a coastal risk that is less than how many feet away from the VM shoreline?
1000 ft
How many people are named Chris in Commercial Lines?
Chris Moran, Chris Bean, Chris Therrien and Chris Campoli- 4
Name three reasons we may decline to add an apartment complex.
If there's any student occupancy, if the risk is a rooming or boarding house, if the risk houses assisted living facilities, if there are unvented space heaters, if smoking is allowed on the premises.
Which 2001 film features Reese Witherspoon as Elle Woods, a character known for her love of pink?
Legally Blonde.
If a BOP has BP0412, what is the corresponding form we should mark off on the CUL Workflow at renewal?
CUL 112
If a policy has multiple locations and each location has a different deeded owner, what form is used to inform Claims who the correct payee would be in the event of a loss?
VM 16- NI by Location
When collecting pre-qual to write a restaurant, what are some of the things we want to print in to the file?
Menu, restaurant hours, if they serve alcohol
What is the minimum rate that VM maintains?
The minimum rate maintained is 0.15. Any rate below 0.15 must be approved by two Supervisors and the CL Director.
In what state are 1 to 4 family dwellings ineligible, unless the total number of units on the policy equal five units or more?
NY
Which pepper is known as the hottest in the world, measuring over 2 million Scoville units?
The Carolina Reaper.
What states does VM write that could be eligible for conditional renewals?
CT, NY, RI and NH
On the BP0002, name three things that are considered covered property (we would cover these things in the event of a loss.)
Buildings/Structures at the premises described in the Declarations, including:
Completed Additions, Fixtures (including outdoor fixtures), Permanently installed machinery/equipment, Your personal property in apartments or rooms furnished by you as landlord, Personal property owned by you or used to service the buildings or structures on the premises (fire extinguishing equipment, outdoor furniture, floor coverings, appliances used for refrigerating, ventilating, cooking, dishwashing or laundering.)
When adding a new location, in what instance would you NOT order an inspection?
If the policy is BPP only.
Describe the purpose of BP0412.
The purpose of BP0412 is to limit coverage to a designated premises or project on our policy schedule. The BP0412 specifies that it is added to the Businessowners Liability Coverage Form (BP0002) and does not impact the property coverage we offer.
How many acceptable means of egress must each unit have from the 3rd floor or above?
Two acceptable means of egress.
What is the name of the cat in "Homeward Bound: The Incredible Journey" that embarks to find her way home?
Sassy