Can the proposal be e-signed?

Yes. Electronic signatures are legally enforceable under the federal ESIGN Act (15 U.S.C. ch. 96) and UETA in most states, provided intent, consent, attribution, and record retention are satisfied.

Is notarization sometimes required?

Certain attestations or corporate resolutions may require notary or state-specific acknowledgment; check insurer requirements and state notary rules before requesting notarization.

What if I discover an error after signing?

Document amendments should be made by creating an addendum or corrected submission signed by authorized parties; preserve original audit trails and note the correction date and reason.

Who must sign the proposal?

An authorized corporate officer or signatory with binding authority should sign; provide a corporate resolution or power of attorney if the signer is not listed on formation documents.

How should supporting files be attached?

Attach PDFs or DOCX financials and claims logs. Use clear filenames and ensure each attachment is referenced in the proposal to avoid insurer follow-ups.

Are remote notarizations acceptable?

Many states accept Remote Online Notarization (RON) with identity proofing and audio-video recording; verify state RON rules and retention requirements before relying on RON for attestations.

Electronic Signature
Templates
Insurance
Insurance Management Liability Proposal

Insurance Management Liability Proposal

This template is fully customizable. Edit the text, fill out the fields, and send it for signature. Give it a try!

INSURANCE MANAGEMENT LIABILITY PROPOSAL

Applicant / Insured Information

Applicant Name Entity Type (check all that apply)

Corporation LLC LLP Nonprofit Individual Other

If Other, describe Principal Business Address

Telephone

Email

State/Country of Formation Federal Tax ID / SSN

Management / Key Individuals

Provide names and positions of up to three principal officers/directors. Attach additional sheets if necessary.

Officer / Director 1 — Name Title Date of Birth Officer / Director 2 — Name Title Date of Birth Officer / Director 3 — Name Title Date of Birth

Coverage Requested & Policy Details

Select coverage sections required and provide limits, retention and premium estimates.

Coverage Sections (select applicable)

Directors & Officers Liability Employment Practices Liability Fiduciary Liability Crime (Employee Dishonesty) Company Reimbursement Side A Only

Requested Limit (each claim)

Aggregate Limit

Retention / Deductible

Estimated Annual Premium

Proposed Policy Period — From

To

Prior & Current Insurance / Loss History

Provide details of management liability coverage in force now and for the prior 3 years, and any claims, suits or circumstances that could give rise to a claim.

Current Insurer Current Policy Limit

Have any claims, suits, demands, or administrative proceedings been made against the company or any present or past director, officer or manager in the past five (5) years?

No Yes

If Yes, provide details (date of loss, claimant, amount, disposition)

Circumstances & Potential Claims

Are any directors, officers or the company aware of any fact, circumstance, or situation which may reasonably be expected to give rise to a claim under the proposed policy?

No Yes

If Yes, provide details

Exclusions, Limitations & Acknowledgements

The proposed policy will contain standard exclusions including but not limited to: (a) fraud, criminal or deliberately dishonest acts committed by an insured; (b) bodily injury or property damage; (c) pollution; (d) fines, penalties or taxes; (e) claims arising from prior acts specifically excluded by endorsement; and (f) matters subject to workers' compensation or unemployment compensation statutes. The insurer may apply additional exclusions based on underwriting review.

By signing this Proposal, Applicant acknowledges that coverage will be afforded only by official policy forms and endorsements issued by the insurer and that no binder, coverage or reliance on coverage is effective until issued in writing by the insurer.

Applicant acknowledges and understands the exclusions and limitations described above.

Beneficiary / Loss Payee Designation

If the applicant designates a beneficiary or loss payee, complete the section below. Designation applies only where policy language permits.

Beneficiary 1 — Name Relationship / Role Percentage Beneficiary 2 — Name (if applicable) Relationship / Role Percentage

Supporting Documentation Checklist

Please indicate which documents are attached or will be provided to underwriters upon request.

Most recent audited or unaudited financial statements

Articles of Incorporation / Bylaws / Charter

Current list of directors, officers and managers

Loss runs / claims history for past 5 years

Declarations, Representations & Authorization

The undersigned authorized representative declares that the statements made in this Proposal and any attachments are true, complete and correctly recorded to the best of their knowledge. The applicant warrants that no information has been withheld which would materially affect the underwriting of the requested coverage. The applicant understands that any misrepresentation, omission or concealment of fact material to the risk may result in denial of coverage or rescission of the policy.

The applicant authorizes any insurer, broker or person to release to the insurer or its representatives information in their possession relevant to underwriting, placement or claims handling, including but not limited to loss history and employment records for the purpose of underwriting and claim investigation. This Proposal shall be the basis of the contract should a policy be issued.

Additional Information / Remarks

Applicant / Insured Name:

Signature:

Date:

What the Insurance Management Liability Proposal Covers

An Insurance Management Liability Proposal is a comprehensive underwriting submission used to request management liability coverage such as directors and officers (D&O), employment practices liability (EPL), fiduciary liability, and related professional liability lines. The proposal organizes corporate governance data, financial statements, claims and litigation history, risk management practices, and requested limits and terms. Insurers use the proposal to assess exposures, determine underwriting questions, and calculate premium and policy conditions. Accurate proposals reduce underwriting delays and form the factual basis for any coverage that is issued.

Why a Complete Proposal Matters for Underwriting

A well-prepared proposal centralizes evidence insurers need to evaluate management liability risk, which improves pricing accuracy, decreases follow-up information requests, and documents representations that affect future coverage and claims handling.

Who Prepares and Reviews These Proposals

Typical preparers and recipients include in-house risk managers, broker submission teams, and carrier underwriters handling management liability lines.

Risk managers: compile governance, financials, and claims history for insurer review.
Insurance brokers: assemble submission, negotiate coverage, and coordinate insurer questions.
Underwriters: evaluate exposures, set pricing, and recommend policy terms.

Other stakeholders such as outside counsel, CFOs, and third-party administrators may be involved for specific sections or reviews.

Typical Signatories and Their Roles

Chief Risk Officer

The Chief Risk Officer or equivalent typically certifies the accuracy of governance disclosures, signs attestations related to internal controls, and authorizes release of financial information to insurers during underwriting and renewal cycles.

Insurance Broker

A licensed insurance broker prepares the submission packet, communicates insurer questions to the client, and signs broker declarations; brokers may also execute placement agreements on behalf of the insured when authorized.

Core Components to Include in the Proposal

A professional Insurance Management Liability Proposal is structured to give underwriters a complete picture of governance, exposure history, and controls so they can price and condition coverage accurately.

Executive Summary

Concise description of the organization, business activities, ownership, and the specific management liability product and limits being requested; frame key underwriting points clearly.

Organizational Data

Legal entity names, formation jurisdiction, EIN, fiscal year end, subsidiary list, and ownership structure to support risk aggregation and jurisdictional underwriting.

Financial Statements

Most recent audited or reviewed statements, management discussion, and any material events affecting financial condition that could influence insurer evaluation.

Governance & Controls

Board composition, committee charters, audit processes, compliance programs, and risk management practices that reduce potential management liability exposure.

Claims & Litigation

Detailed prior and pending claims history, settlements, regulatory inquiries, and any open or closed matters relevant to management liability coverage.

Requested Coverage

Coverage limits, retention/deductible preferences, desired endorsements, retroactive date or prior acts clauses, and any coverage carve-outs or exclusions.

Step-by-Step: Completing the Proposal Document

Follow these sequential steps to assemble a complete submission that underwriters can process with minimal follow-up.

01

Gather Records: Collect governance documents, financials, and claims history.
02

Populate Fields: Enter entity data, EIN, fiscal year, and contact details precisely.
03

Attach Exhibits: Upload audited financials, board minutes, and material contracts.
04

Review & Sign: Verify answers, obtain authorized signatures, and date the form.

Configuring an Online Submission Workflow

Configure fields, signer roles, and authentication to match your internal approvals and insurer requirements before sending the proposal electronically.

Field	Configuration
Signer Roles	Designate primary signer, broker, and reviewer; set signing order
Authentication	Use email + SMS code or two-factor for stronger signer verification
Required Attachments	Make financials and claims logs mandatory uploads before submit
Audit Trail	Enable timestamping and IP capture for each signing action

Technical Requirements for eSubmission and eSigning

Confirm platform support for PDF/DOCX uploads, audit trails, and secure signer authentication before sending the proposal.

File Types: PDF, DOCX, HTML, XLSX supported
Signer Auth: Email, SMS code, or advanced methods
Integrations: CRM and storage integrations available

Where to Send the Completed Proposal

Routing depends on placement approach; typical paths include direct carrier submission, broker market placement, or secure portal upload to an MGA or underwriting team.

Direct to Carrier: Upload to insurer portal or email underwriter with attachments.
Via Broker: Broker compiles, submits to multiple markets, and tracks responses.
MGA Portals: Submit via managing general agent portal for delegated authority.
Secure File Share: Use encrypted storage links when portals are unavailable.

Typical Timelines and Processing Expectations

Expect variable turn times; set internal deadlines to align with insurer response targets and policy effective date requirements.

Internal Prep Target:

Complete submission package within 5 business days of request.

Underwriter Acknowledgement:

Initial receipt confirmation often within 1–3 business days.

Underwriting Review:

Full review commonly takes 5–15 business days depending on complexity.

Binder Issuance:

Binder or conditional terms may be issued within 1–5 business days post-approval.

Policy Documents:

Final policy typically issued within 7–30 days after binding.

Key Milestones from Submission to Policy

A straightforward milestone sequence clarifies responsibilities and expected timing through issuance.

01

Submission Completed

All fields and attachments assembled and delivered to underwriter.

02

Underwriter Review

Carrier evaluates exposures, requests follow-up, and assesses pricing.

03

Negotiation & Terms

Broker and underwriter agree on limits, retentions, and endorsements.

04

Binding & Documentation

Carrier issues binder followed by official policy and invoices.

Common Mistakes to Avoid When Preparing the Proposal

Incomplete claims history entries that omit dates or settlement amounts, causing insurer follow-ups and potential rescission risk.
Using inconsistent entity names or incorrect EINs that delay binding and create tax reporting issues.
Failing to disclose regulatory inquiries or employment claims that later lead to coverage disputes.
Attaching unsigned exhibits or missing authorized signer documentation that stalls insurer acceptance.

Consequences of Inaccurate or Omitted Information

Coverage Rescission: Material misrepresentation can lead to rescission.

Claim Denial: Non-disclosure may justify claim denial.

Premium Adjustment: Corrected facts can increase premium.

Policy Exclusions: Insurer may add exclusions for undisclosed exposures.

Regulatory Risk: Certain omissions can trigger regulatory scrutiny.

Broker Liability: Improper submissions may expose broker to disputes.

Essential Data Elements to Include

Entity Details: Legal name, EIN

Financials: Audited statements

Governance: Board and committee makeup

Claims: Complete claims log

Requested Limits: Limits and retentions

Signatures: Authorized signer info

eSignature Pricing and Feature Comparison

Basic vendor pricing and common capabilities relevant to Insurance Management Liability Proposal workflows are summarized below for initial budgeting and vendor selection comparisons.

	signNow	DocuSign	Adobe Sign	PandaDoc	HelloSign
Starting Price	$8/user/mo	$15/user/mo	$14/user/mo	$19/user/mo	$15/user/mo
Free Trial	7-day trial	Varies by vendor	Varies by vendor	Varies by vendor	Varies by vendor
Bulk Send	Yes	Yes	Yes	Yes	Yes
Audit Trail	Yes	Yes	Yes	Yes	Yes
HIPAA Compliant	Yes	Yes	Yes	No	No
Envelope Cap	No cap	100 envelopes/user/year	Varies	Varies	Varies

FAQs and Troubleshooting for Proposal Submissions

Answers to common questions about electronic completion, signature validity, notarization, and correcting errors when preparing a management liability proposal.

Need help? Contact support

Can the proposal be e-signed?
Yes. Electronic signatures are legally enforceable under the federal ESIGN Act (15 U.S.C. ch. 96) and UETA in most states, provided intent, consent, attribution, and record retention are satisfied.
Is notarization sometimes required?
Certain attestations or corporate resolutions may require notary or state-specific acknowledgment; check insurer requirements and state notary rules before requesting notarization.
What if I discover an error after signing?
Document amendments should be made by creating an addendum or corrected submission signed by authorized parties; preserve original audit trails and note the correction date and reason.
Who must sign the proposal?
An authorized corporate officer or signatory with binding authority should sign; provide a corporate resolution or power of attorney if the signer is not listed on formation documents.
How should supporting files be attached?
Attach PDFs or DOCX financials and claims logs. Use clear filenames and ensure each attachment is referenced in the proposal to avoid insurer follow-ups.
Are remote notarizations acceptable?
Many states accept Remote Online Notarization (RON) with identity proofing and audio-video recording; verify state RON rules and retention requirements before relying on RON for attestations.

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