Pre-Qual
Why do we need to pre-qual a risk before adding it to a policy?
We need to determine the eligibility of the risk adn make sure that it fits within our guidelines.
The survey summary sheet should always go in which folder and always be located where?
The top of the INSP folder.
These forms can extend up to $5K coverage on unscheduled outbuildings.
What are the BCEE and BCEEPlus?
In The Simpsons, the family dog is called Santa's Little Helper. This is the breed of the dog.
What is a Greyhound?
Moran, Campoli, Bean, Therrien
Who has the first name Chris in the CL Department?
Can we have a multi-state BOP Policy? Why or why not?
No, because when we migrate to Summit, Summit will not be able to support multi state policies.
We will not write a coastal risk that is less than how many feet away from the VM shoreline?
1000 ft
When should we use 'R' file notes?
What are premium bearing? (Will also take examples- increasing building limits, amending construction, etc.)
This form can exclude outbuildings from a property.
What is the VB1420?
Elvis sang about this type of dog.
What is a hound dog?
25 year tenure.
How long has Alan worked at Vermont Mutual?
What is ERC and what does it do?
Extended Replacement Cost- we can extend the replacement cost up to 25%, but the policy must be 100% ITV.
When collecting pre-qual to write a restaurant, what are some of the things we want to print into the file?
Menu, restaurant hours, if they serve alcohol.
What are the three options we will give an insured if we come across an unscheduled outbuilding that has an area greater than 100 ft?
If the unscheduled outbuilding is in acceptable condition, add the following Additional Information Request to the letter:
Upon review of the file I found that there is a ______ sq. ft. outbuilding on the premises. This building is not currently scheduled on the policy declarations. The intent of our policy should be clarified by either adding the building or excluding it from property coverage. Below are the options available to the insured. Please advise which option you would like to go with.
• Option#1: Exclude the outbuilding from property coverage. If this option is chosen, form VB1420 – Additional Property Not Covered will be added to the policy.
• Option #2: Add the outbuilding to the policy declarations. If this option is chosen, please provide a building limit.
• Option #3: This policy currently contains our enhancement endorsement (BCEE or BCEE Plus), which provides $5,000 for unscheduled outbuildings. If you feel $5,000 is adequate for the unscheduled outbuildings, please provide a statement to that effect. If this option is chosen, form VB1420 – Additional Property Not Covered will be added to the policy in order to cap the limit for unscheduled outbuildings at $5,000.
This form is the Business Owners Special Property Coverage Form.
What is the BP0002?
This dog, of which there are 20 breeds, takes its name from the Latin word for 'earth.'
What is a terrier?
Close Calls
What is the name of Brandyn's team?
Name the state code for Massachusetts.
20
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), and Betterview/Nearmap Report
*Note- if it's New Biz, may also need Loss Runs and No Smoking Lease Language depending on the risk.
Recommendations to have existing fire extinguishers in habitational properties inspected and tagged, recommendations to have existing fire extinguishers in habitational properties inspected and tagged.
What are some recommendations NOT to send?
On the BP0002, name three things that are considered "covered property." (We would cover these things in the event of a loss.)
Examples of correct answers:
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.
Like the chow, the shar-pei is noted for having this blue/black organ.
What is the tongue?
Daniel Baldwin
Who was the founder of Vermont Mutual?
Will VM write a condo or apartment where there is student occupancy?
Not for undergrads, but VM may consider an occupancy that houses graduate students.
When adding a new location, in what instance would you NOT order an inspection?
If the policy is BPP only.
If we receive a survey for a cancelled policy, should we send the Rec/ITV letter to the agent?
No. We should print the survey and RCE into the file and waive the recs (annotating that the recs are being waived because the policy has cancelled), and mark the inspection as "Complete" in LC360.
Who is considered an insured?
If you are designated in the Declarations as:
1. An individual, you and your spouse are insureds, but only with respect to the conduct of a business of which you are the sole owner.
2. A partnership or joint venture, you are an insured. Your members, your partners and their spouses are also insureds, but only with respect to the conduct of your business.
3.A limited liability company, you are an insured. Your members are also insureds, but only with respect to the conduct of your business. Your managers are insureds, but only with respect to their duties as your managers.
4. An organization other than a partnership, joint venture or limited liability company, you are an insured. Your "executive officers" and directors are insureds, but only with respect to their duties as your officers or directors. Your stockholders are also insureds, but only with respect to their liability as stockholders.
Dachshunds were originally bred to hunt this animal.
What is a badger?
Vermont Mutual received its charter and officially opened its doors in this year.
What is 1828?
How many means of egress must there be for each unit on the third floor and above?
There must be two acceptable means of egress.