This CPA will guide you to identify which carrier (s) will be the best to write this Risk (LOB)
Step 1: Collect risk info via request for earthquake quote or via Purl for this LOB. (Already done - go to step 2) Step 2 – Create client in ezlynx if it’s a new client to the agency. Step 3 – Enter the risk info into ezlynx for bridging to carriers. (Only applies to bridgeable LOB’s). Step 4 – Identify the carriers that writes this line of business. Step 5 – Compare final validated rates to determine the best carrier for this risk.Step 6 – Prepare application for client to SigningStep 7 – Bind the Policy & Complete Point of SaleStep 8 – Process BOR & Complete Point of Sale (In case client decides to BOR to our Agency)
Ezlynx Client Creation:
Field-2D
Note: Since the client already exists, then just verify the applicant's contact information with what's listed below.
Note - Create a new personal lines client (aka new Applicant).
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Applicant Information:
Property Title Information: We must verify how the property is titled to so we can determine how the policy should be written and to make sure all individuals and/or entities are covered properly.
Address Information: We must be careful and take precaution with insuring this location. It's very important that we do not place insurance on the wrong address and a claim is denied.
Coverage Guidance: The following will help to choose the coverage limits and endorsement on the policy.
Standard Coverage: Coverage A - Dwelling: Based on the RC Estimator, this is the amount of coverage need to replace the home in case of a total loss aka reconstruction cost. Coverage B - Other Structures: The standard limit included is 10% and should be increase in case the others structures value is greater than 10%.Coverage C - Personal Property: The standard limit included is 50% or more, but can be increase if more coverage is needed.Coverage D - Loss of Use: The standard limit included is 20% or actual loss sustained, but can be increase if more coverage is needed.
Other Coverages & Endorsements:Building Ordinance: The standard limit included is 10%, but can be increase if more coverage is needed.Replacement Cost on Dwelling: This endorsement should always be added if available in every case.Replacement Cost on Personal Property: This endorsement should always be added if available in every case.
Deductible: The standard deductible we should be quoting is $2500, however rates for different deductibles can be given to the client so they can choose what they prefer to have in case of future loss.
Note: Enter the risk into Ezlynx quoting screens
Prio Ins. Info
Let's verify if the client own's or rent's
Identify Carriers that will write this risk:
Note: You can use the Replacement Cost Estimator for an accurate reconstruction cost.
Note: This coverage A Limit has been increased by 10% for any items that we did know about or include in our RC Estimate.
These are the Primary Markets for Flood Ins - Primary Home
(thru Assurant)
Basic Underwriting: Homeowners Guidelines HO3 Product ComparisonHO3 Specimen Product HighlightsFlood GuidelinesPrivate Flood Product ComparisonFlood SpecimenPrivate Flood Reference SheetAnswers to Questions about NFIP
(EZFlood Lloyd's Program written thru Assurant site)
Basic Underwriting: Homeowners Guidelines HO3 Product ComparisonHO3 Specimen Product HighlightsFlood GuidelinesProduct highlight / ComparisonFlood SpecimenFlood-Homeowner Cheat Sheet
Basic Underwriting: Homeowners Guidelines HO3 Product ComparisonHO3 Specimen Product HighlightsFlood GuidelinesProduct highlight / ComparisonFlood SpecimenAget Quick Reference Guide
Basic Underwriting: Homeowners Guidelines HO3 Product ComparisonHO3 Specimen Product HighlightsFlood GuidelinesFlood Coverage OverviewFlood SpecimenFlood-Homeowner Cheat Sheet
Basic Underwriting: Homeowners Guidelines HO3 Product ComparisonHO3 Specimen Product HighlightsFlood GuidelinesExcess and Private Flood InfoFlood SpecimenFlood-Homeowner Cheat SheetQuick Quote Form
Compare the Rates:
STEP 6 - Prepare Application for Signatures:
Note: We need to prepare the Assurant application along with any additional underwriting forms for signatures.
Determine if you need any of these additional underwriting forms. Note - You only need to to do this if the application did not automatically print with it.
HO3 Underwriting GuidelinesPrimary Home SpecimenProduct Comparison(Nevada)-Product ComparisonCA Homeowners EligibilitySub Limits Explained
Note: We need to prepare the Aon Edge application along with any additional underwriting forms for signatures.
Note: We need to prepare the Cat Coverage application along with any additional underwriting forms for signatures.
Note: We need to prepare the Neptune application along with any additional underwriting forms for signatures.
Note: We need to prepare the Palomar application along with any additional underwriting forms for signatures.
Note: We need to prepare the Selective application along with any additional underwriting forms for signatures.
Note: We need to prepare the Flood Risk Sol. application along with any additional underwriting forms for signatures.
STEP 7 - Bind the Policy:
Note: We need to Bind the Assurant Policy.
Note: We need to Bind the Aon Edge Policy.
Note: We need to Bind the Cat Coverage Policy.
Note: We need to Bind the Neptune Policy.
Note: We need to Bind the Palomar Policy.
Note: We need to Bind the Selective Policy.
Note: We need to Bind the Flood Risk Sol. Policy.
Now that you have Bound the Policy, its time to complete the Point of Sale. Hit Submit
STEP 6 - Process a BOR:
(What is a BOR or AOR)
Note: We need to send a Assurent BOR to the client for signing.
Basic Underwriting for Assurant BOR
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Note: We need to send a Aon Edge BOR to the client for signing.
Basic Underwriting for Aon Edge BOR
Note: We need to send a Cat Coverage BOR to the client for signing.
Basic Underwriting for Cat Coverage BOR
Note: We need to send a Neptune BOR to the client for signing.
Basic Underwriting for Neptune BOR
Note: We need to send a Palomar BOR to the client for signing.
Basic Underwriting for Palomar BOR
Note: We need to send a Selective BOR to the client for signing.
Basic Underwriting for Selective BOR
Note: We need to send a Flood Risk Solutions BOR to the client for signing.
Basic Underwriting for Flood Risk Solutions BOR
Note: Make sure to upload all your quote files here instead of saving in ezlynx client file direclty. After you hit submit then you get the pdf copy of this CPA which will be saved in ezlynx anyway. This is a more organized way of saving files related to quoting / marketing a risk and is much easier to review on future Renewals.