Insurance Underwriting Guidelines

INSURANCE UNDERWRITING GUIDELINES

Document Control

Guideline ID:    Department:

Effective Date:    Prepared By:    Reviewed By:

Scope and Purpose

These underwriting guidelines establish minimum criteria, rating factors, required documentation, exclusions and referral thresholds for evaluating new and renewal insurance risks. Deviation from these guidelines requires written approval by an authorized underwriting manager.

Applicant / Insured Information (sample reference)

Date of Birth (if applicable):    Years in Business / Operation:

Policy Details

Coverage Limit: $    Deductible: $    Annual Premium: $

Policy Period From:    To:

Coverage Sections

Coverage selections shall conform to the limits and endorsements enumerated below. Check all applicable coverages and record sub-limits where required.

General Liability    Property    Business Interruption    Professional Liability

Underwriting Criteria and Rating Factors

Eligibility shall be assessed against the following mandatory criteria. Any material deviation must be escalated for approval.

Minimum Acceptable Credit / Risk Score:    Maximum Acceptable Prior Loss Frequency (last 5 years):

Years of Experience / Operations    Loss History and Severity    Location / Geographical Risk    Construction / Physical Protections

Occupancy, Construction and Protection Requirements

Acceptable occupancies and construction classes are limited as follows. Risks outside these parameters require explicit referral.

Frame    Masonry    Fire-Resistive

Exclusions and Mandatory Endorsements

The policy must include standard exclusions and any mandatory endorsements relevant to the risk. List required exclusions or endorsements below.

Documentation Checklist

The following documentation is required prior to binding; mark items received.

Completed Application    Financial Statements (if required)    Loss Runs (last 5 years)    Risk Control / Safety Plans

Underwriting Authority and Referral Thresholds

Underwriters must operate within delegated authority. Risks that exceed the following thresholds require referral to the next authority level.

Underwriter Delegated Limit: $    Manager Referral Threshold: $

High aggregate exposure concentration    Multiple severe losses within 3 years    Unusual or emerging hazard

Pricing and Premium Considerations

Minimum Premium: $    Policy Fee: $

Decisioning and Conditioned Acceptances

Underwriter Recommendation:

Accept    Accept with Conditions (see conditioned_items)    Decline

Confidentiality and Reliance

These underwriting guidelines are confidential and intended for the use of authorized employees and representatives. Reliance on information provided by applicants is conditioned upon reasonable verification. Material misrepresentation by the applicant may render coverage voidable to the extent permitted by law.

Beneficiary / Payee Information (if applicable)

Relationship:    Allocation Percentage:

Deviation and Approval Record

Approval Date:

Certification and Acknowledgement

I certify that I have reviewed the applicant's submission and supporting documentation and that the underwriting decision recorded above is made in accordance with the authority delegated to me and the underwriting standards herein. I understand that any intentional misstatement of material facts may subject the applicant to rescission or adjustment of coverage as permitted by law.

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