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Underwriting Bulletin 57
June 5, 2007
REQUIRED UNDERWRITING DOCUMENTATION UPDATE
Based on feedback from our valued agency partners, we are pleased to announce the following enhancements to our Underwriting program:
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Proof of Prior Insurance – Prior Insurance Carrier
This will be moved to a post-issuance spot check. Please continue to obtain proof of prior insurance and keep in your agency files until required to send in for review.
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Proof of Prior Insurance – Newly Purchased Residence
The closing documentation requirement has been eliminated. For newly purchased homes, there is no underwriting documentation required.
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Central Reporting Alarms/Proof of Monitored Alarm System
This will be moved to a post-issuance spot check. Please continue to obtain the support documentation for this discount and keep in your agency files until required to send in for review.
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New Business Quoting
You may now quote new business 90 days in advance of the effective date. All quotes will be retained for 90 days. (Previously quoting was permitted a maximum of 60 days in advance and were retained 45 days.
AND GREAT NEWS on an enhancement that is coming soon:
Based on recommendations from our Agency Advisory Council, we will soon offer delivery of your printed paper output electronically. Instead of receiving your output via U.S. Mail, you may elect to receive email notification from underwriting including a list of all output (dec pages, cancellation notices, etc) with a link to the pdf document. You will have the ability to view and print items you select. You will still retain the option to receive your printed output via U.S. Mail if you so choose. In addition, to assist you with policy management, the output notification email will contain confirmation when an endorsement is processed with a link to any supporting documentation. More to come on this enhancement soon! Thank you for your continued feedback and support in making changes that provide ease of use for Universal Agencies! |