BORs
What type of BOR requires RVP approval to process?
Midterm cancel/rewrite BOR
Which Category/Subcategory would you use for the following: meeting with your manager to review your audit and make corrections
Quality/Quality
This status is used when the OAS disagrees with the finding, and there is evidence to support the disagreement.
Dispute
True or false: When logging your time for the day, your "in" time should be your scheduled start time.
False
They must enter the time they start work, the time they leave for lunch, the time they return from lunch and the time they end work each day in addition to any breaks taken for periods longer than 20 minutes. The exact time should be entered (e.g., 8:03, 12:15) and not the employee’s regularly scheduled time.
You renew a BOR account with the new agent. What disposition status and reason do you use when closing out the old agents' tasks?
Disposition Status = Non-Renewed By Insured
Disposition Reason = BOR
How should early release be coded in TrackIt?
Time off
The time should be subtracted from your available time for the day and included on the "Time Off" line.
This closure code indicates no action was taken. For example, used when a CRN should have been sent but wasn't.
Error Acknowledged
When thinking about generating an AI prompt, Travelers encourages utilizing the RICE method. What does each letter of the acronym stand for?
R = role
I = instruction
C = context
E = example
True or false - at every BOR renewal, you need a new submission and new policy numbers.
False - you will need new policy numbers for every BOR, but not necessarily a new submission.
Which Category/Subcategory would you use for the following: a meeting with your AE to discuss or prioritize account work for the week
This is considered production time and not off-measure
This closure code is used any time corrections are made to policy paper, such as endorsements or cancel/rewrites.
Information Requested
You're assigned a mid-term service BOR and the renewal submission/tasks have not yet been reactivated. How will you notate the account is a BOR?
Add Reminder Task
Submission = Future renewal
Due Date = 120-180 days prior to expiration date of current policies
Description = Mid-Term Service BOR
Notes = (Enter the following)
BOR at Renewal
BOR Producer Code [ ]
Prior applications
*Do not share any work product submitted by another agent
Which Category/Subcategory would you use for the following: Providing feedback or corrections to partners (i.e., GOS&D, FOS, MMRR, RUS)?
Training/CS&S Feedback
This closure code is used when findings cannot be corrected without changing premium or coverage and documentation is available in file to show the AE has agreed to wait until renewal to correct.
File Documented to Show Corrective Action to be Taken at Renewal
The state requires that your conditional notice be mailed no later than Thursday, March 12th. What is the last day you can send the letter to be printed and mailed?
Wednesday, March 11th
There is no overnight mailing. Letters are printed overnight and then mailed the following day. If the date on your notice is March 12 (the final day to mail), this would be considered late if pulled for audit.
When reviewing a BOR letter, the letter must contain the policy numbers being moved, the effective date of the change, the signature of an authorized rep of the insured, and what other key piece of information?
The name and address of the new agent
You're working on an account and ask a friend come sit with you to assist you as you work through the account. How should you code in TrackIt? And how should your friend code it?
For you, this is considered production time and not off-measure. Your friend will code as Training.
This code is used when a correction involves emailing the agent to explain how the policy was issued, such as when there is a discrepancy between the proposal and the issued policy (for example, in the named insured).
Correction Made
You receive an endorsement request to add a loss payee a Deluxe policy effective 60 days ago. Is AE approval required prior to processing this change?
Yes
Loss payees generally do not require approval, but backdating more than 30 days does.