slide1 l.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
1/3 Risk Manager/Broker Renewal Strategy Meeting: design options, form comparisons/ manuscript word PowerPoint Presentation
Download Presentation
1/3 Risk Manager/Broker Renewal Strategy Meeting: design options, form comparisons/ manuscript word

Loading in 2 Seconds...

play fullscreen
1 / 1

1/3 Risk Manager/Broker Renewal Strategy Meeting: design options, form comparisons/ manuscript word - PowerPoint PPT Presentation


  • 370 Views
  • Uploaded on

PROPOSED INSURANCE RENEWAL TIMELINE Based on June 1 Effective Date. Milestone. Key Activity. 1/3 Risk Manager/Broker Renewal Strategy Meeting: design options, form comparisons/ manuscript wording, target pricing Sets renewal timeline. 5/7

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about '1/3 Risk Manager/Broker Renewal Strategy Meeting: design options, form comparisons/ manuscript word' - lotus


Download Now An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
slide1

PROPOSED INSURANCE RENEWAL TIMELINE

Based on June 1 Effective Date

Milestone

Key Activity

1/3

Risk Manager/Broker Renewal Strategy Meeting: design options, form comparisons/ manuscript wording, target pricing

Sets renewal timeline

5/7

Risk Manager presents quotes to management, obtains authority to bind; provides binding authorization to Broker

2/15

Broker distributes specifications and policy wording to carriers and communicates renewal timeline

4/10

Broker reviews quotations, identifies deviations, compares terms of competing quotes; provides to Risk Manager

6/30

Umbrella policies received, reviewed and forwarded to Risk Manager

6/1

Policy Expiration

4/30

Broker receives Umbrella quotes, verifies follows Primary form or identifies deviations; provides to Risk Manager

5/15

Carriers prepare either (1) policies or (2) binders; forward to Broker

3/15

All parties annotate changes to policy form and endorsements; obtain internal approval to finalize and use terms as basis for quotes

1/17

Broker performs Analytical Modeling

4/22

Risk Manager reviews quotes, advises Broker of best options and any improvements to pursue; Broker negotiates final terms

2/1

Risk Manager submits specifications/ applications to Broker

4/1

Broker receives Primary quotations based on agreed terms

5/8

Broker notifies carriers of binding instructions

6/15

(If binders used)

Primary policies received, reviewed and forwarded to Risk Manager

5/20

Broker performs quality review of policies or binders and forwards to Risk Manager

3/1

Carriers review specs and forms in advance of meeting with Risk Manager and Broker; Carriers commit to quotation timeline

1/10

Risk Manager review and signs-off on form comparisons/ manuscript wording; Selects Markets

- 150 to -60 Days

-45 to -30 Days

-15 to 0 Days

0 – 30 Days