Input Forms
What’s the difference between agency bill & direct bill?
Agency bill means invoices come from Lockton and direct bill means invoices will come from the carrier to the client.
How many days are in a typical renewal cycle?
120-150 days
What is the document called that has all of a clients certificates that they can pull?
CertKey
What’s a BOR?
Broker of Record letter
How can you determine a policy's export code?
Lockton surplus lines tax page on the intranet
The client just emailed you to add a vehicle, what are the first two things you should do?
1. File the correspondence
2. Update the exposure workbook
What are the 5 line of business sections included on a COI?
GL, Auto, Umbrella, Workers’ Compensation, other
What’s an ExMod?
It’s a factor used to adjust a clients premium up or down based on claims history as it relates to other similar businesses.
What is our department code?
3225
At the minimum, what 2 items do you need in a submission?
Exposures & loss run
What is the point of a certificate?
For our clients to show their clients that they have active insurance coverage
An ExMod greater than 1 means what
The client’s claims are worse than the average claims history of similar companies and they’ll have to pay additional premium for that.
Lockton is filing the Surplus lines taxes. What are the three options to choose from that we need to provide for Lockton to be allowed to file the taxes?
Declinations emails, ECP Form (if client qualifies), or Export list
How quickly should renewal quotes get populated into the proposal?
24 hours (will accept 48, but really should be 24)
What is the freeform box that can be edited on a COI?
Description of Operations (DOO)
What is our client's relationship to the Private Equity firm?
Our clients are the firm's portfolio companies
What is paid to Lockton when a client is trying to process a finance agreement?
Where can you see if a client has made a payment on an invoice?
Nexsure / Accounting View
Name one auto symbol category that can be checked off on the COI. Looking for words, not a number.
Answers may vary
Name 5 insurance carriers
Answers will vary