UWR
How many business days for completion on a Vendor Reported Loss History review
Up to 21 business days
Who offers Earthquake coverage, since Bamboo does not?
Palomar Specialty Insurance
(619) 567-5290
What carrier do we use to ship out checks and how long can it take to get to the insured?
USPS and it can take up to 30 business days
We can re issue if we are past 30 business days or if the mailing address is updated after the check has been issued.
Will we cover a policy with a diving board?
We will cover the risk but any liability arising from the diving board is not covered.
What can we do on an E&S Policy
We can work them like regular admitted policies but once the revision is completed you need to email endocancelupload@incontactemail.com to let the E&s team know you have update the policy
Name one or multiple reviews that you can process and approve after the initial review (Staff Boom/SB)
Pool Review
Debris Review
Tree Overhang
Loss History Not Ran
ONLY ON ADMITTED POLICIES, we cannot approve reviews on E&S (Non-admitted policies)
What policy type is written for duplex, triplex, and fourplexes?
DP3 only
If the owner occupies any of the units, it is still written under DP3.
If any of the units are being rented out, it will be rated tenant occupied, even if the owner lives in one of the units.
How do you locate the information on a return premium check that has already been sent?
You can find the status of the sent check via the 'Released Return Premiums' excel spreadsheet.
You can also go to the notes on the policy and search 'Refund'.
Do we cover log cabins?
True log cabins we do not, fake or faux log cabins we do. Reach out to your lead if you are having a hard time distinguishing the two.
Who fills out the broker of record change form and where do they send the completed broker of record form?
The new agent/agency will fill out the Broker of Record form with the insured and they will email the Broker of Record form to agent.support@bambooinsurance.com
We cannot recommend to insured's who to go to for a new policy or agent. They can use resources like Yelp to find a agent or agency in their area.
What do you do if you see a home is under construction during the quote phase
Open a non-renew ticket to have underwriting reject the quote.
When is a Roof for Fire and Lightning added on to a policy?
Roof for Fire and Lightning is added on based upon the age, condition, and material of the roof.
Anything 25 years of age or older will be subject to the RFAL endorsement or if in poor condition regardless of age.
How long after a duplicate/overpayment is made until Bamboo sends it back to the insured as a return premium check.
If it's a duplicate payment it will automatically generate a return premium to be mailed to the insured 7-10 business after the payment is cleared.
If it's a overpayment due to a payment plan change, after 7-10 business days, we will enter in a check request for finance to send out the overpayment.
How do we write a detached ADU, that is being rented out?
How do we write a detached ADU, that is being occupied by the same family as the main home.
ADU that is being rented out will be it's own DP3 policy tenant occupied, since DP3's are for long term rentals.
ADU that is being occupied by same family as main home, will be under the main home's policy and they will increase coverage B to account for the ADU
When do we require a Statement of No Loss for a effective date change?
If we are updating the effective date from a future date to the current
Ex. future date is 09/30/2025
new date is 08/29/2025
We require a Statement of No Loss, reason being is because we are starting coverage at midnight 08/29/2025
When can we request a manual loss run on a quote?
When the loss on a quote has a name that matches what is quoted but the loss address does not match the mailing or risk address quoted.
Example:
Name on Loss matches name on quote
Address on loss does not match the quoted mailing or risk address
We can request a manual loss run (Send to TL via email).
What is the automatic adjustment of limits?
The automatic adjustment of limits is when Bamboo increases coverages A,B,C,D upon renewal.
The increase is based on either:
• A replacement cost estimate from a major appraisal company using property characteristics provided.
• A 4% inflation guard
Can we request for finance to send a RP check to another NI, AG, or MTG?
If we see that the payment came from the agent or agency via the Accounts Receivable, we can send it back to the agent or agency of record.
If a named insured states the check needs to go to the second named insured, we can send this out with a signed statement requesting such.
We cannot send a check to the mortgage company
Do we accept Townhomes and Condos?
We will only accept Townhouse or Row House units within a building containing a maximum of 8 individual family unit
We do not accept condos, condo's are written under HO6, which Bamboo does not write for.
What do we require to update the year roof installed?
What if the roof is only partially replaced?
We will need photos and invoices/receipts that showcase the roof has been fully replaced. Then we can attach to the policy and update the year roof installed.
***We cannot update the year roof installed if only a portion of roof has been replaced.**
Do the Letter Of Experience(s) that we request for Vendor Reported Loss History Review need to state the claim is 'closed'
If the loss on the Bamboo quote shows the claim status as 'Closed' then we do not need the LOE to state such.
However, if the loss on the Bamboo quote shows a status as EITHER 'Open' or 'Unknown', then we need the Letter of Experience to specifically state closed.
Do we cover events taken place at the insured's home or away from the home?
We do not cover events or have a coverage option for this
What do we require in order for Bamboo to research a check that was sent to us?
Cash/Clear date (if they don't have this, then we cannot proceed).
Date check sent
Check number/ID
Copy of the front and back of the sent check (scanned preferable).
Then you will enter in a check request ticket with all the gathered information
If the first named insured on a policy passed away and no one else is on the policy what do we need to speak to a 3P
We need a copy of the death certificate and we need a copy of the Power of Attorney(POA) or executor of estate documents. Then any information can be provided to them.
If the agent cannot complete the e-sign with the insured, what other option can we take?
We would set up for a wet-signature request. The Agent will need to sign the Policy Application in person with the insured and email or upload the signed Policy Application to the quote.
We then will open a wet-sign ticket to have underwriting manually bind the policy, after this is done, the agent will be notified to post a payment within 3 business days to avoid policy cancellation.