Broker Tutorial | How to Submit City Insurance Business Video
TRANSCRIPT:
Introduction & Broker Tab (0:00)
Hello, and welcome to the Distinguished Programs City Insurance Submission and Portal overview. Today we’ll be going through a basic submission entry, and how to submit it to underwriting for review. The first option you’ll look to select is the new quote option in the top right portion of the screen. When clicking this option, you will have the option to quote various lines of business within Distinguished Programs. The one we’ll be creating today is a city homes or City Insurance program quote.
Once selecting the City Insurance program option, you’ll be directed to the first page of the portal, which is the Broker details. From here, you will select your insurance brokerage from the list of dropdown items available.
Insured Tab (0:45)
Moving on to the Insured tab, this is where we will confirm and require the named insured, the type of ownership, the mailing address, the effective date, and the inspection contact information for the insured. This will not come pre-filled, and you’ll need to enter this information manually.
For the type of ownership, we have several different options listed. For tenants in common, the other option should be selected.
Policy Tab (1:12)
The Policy tab goes over our underwriting criteria and eligibility. In the essence of time, we will not go through each of these items individually, but is an encouraged to read these items thoroughly, to confirm that the risk and question meet our underwriting criteria.
The first question asked is in regard to the items outlined above. By selecting, ‘yes’, you acknowledge that the insured meets all of our underwriting criteria. We also like to know if the insured is operating under any form of the US Bankruptcy Code.
We do not require the insured to use a property manager, but if the insured is using a property manager, we would require that the property manager to have at least five years of experience.
In the current or prior carrier section, we will ask about the purchase history of the insured, if this is a new purchase if the building is newly constructed or renovated, and by our definition that is a ground-up construction or gut rehab in the last six months.
And we also ask about the current carrier, and if the property liability insurance is currently in place for all locations on the submission. We will request the current carrier’s name, the expiration date of the policy, and the expiring premium. We will also like to know if coverage has been canceled or non-renewed during the last three years.
Locations Tab (2:28)
The Locations tab pertains to the physical address of the property that you’re looking to cover on the quote. In the essence of time, I have prefilled this section and we will go through both the Location Exposure and the Location Coverages tabs.
The Location Exposure tabs will require information such as unit count, building square footage, and the percentage of the building that is occupied. If there is or is not a commercial tenant, garage space, and additional underwriting eligibility criteria are listed here.
We will ask you to confirm that the risk meets all life safety and underwriting requirements listed above. To agree, the ‘yes’ option should be selected.
Once confirming that all requested limits listed on the Location Coverages tab look accurate, you can click the next button to proceed back to the Locations tab to complete one last overview. This will give you a summary of the location exposures and the location coverages for the limits that you have entered.
If you were working on a submission that has multiple locations, you can add additional locations to the existing submission. You can do so on the Locations tab by clicking the ‘add additional locations’ button pictured here.
Additional Interests Tab (3:57)
Proceeding to the Additional Interests tab, this is where you’ll be able to enter mortgages or additional insureds for the location.
Loss History Tab (4:10)
The final tab of the submission is the Loss History tab. This is where we would like to know about the account performance and the loss history of the insured. If any of the questions outlined below are answered as ‘yes’ or ‘unknown’, we will need additional underwriting information.
If you believe the loss history of the insured may affect the eligibility of the quote, it is encouraged to discuss it with your underwriter accordingly.
Once completing the Loss History tab, you’ll be able to navigate to the other tabs at the submission. You can return to prior tabs to make any needed adjustments, revisions, or review for accuracy. Once the submission is referred to underwriting for review, you’ll be unable to make any changes.
Confirmation (4:55)
Once you get to the final page of this submission, you’ll be able to submit the application for underwriting review. You can do so by clicking the ‘submit’ button in the upper left-hand corner of the application.
Once the submission is successfully referred to underwriting for review, you will see the status updated in the top left corner to the submission referred. You’ll also see a note that the application was successfully submitted in the center of the screen.
In addition to these two notes, you’ll also receive a PDF version of the application in an email, shortly after submitting.
Please note, the underwriting review may take 24 to 48 hours.
For questions, please contact:
Greg Somers (gsomers@distinguished.com)
Matt Walters (mwalters@distinguished.com)
Paul Zeni (pzeni@distinguished.com)
About Distinguished Programs
Distinguished Programs is a leading national insurance Program Manager providing specialized insurance programs to brokers and agents with specific expertise in Fine Art and Collectibles, Environmental and Construction Professional, Executive Lines, Inland Marine, Real Estate & Builder’s Risk, Community Associations, Surety, Hotels, and Restaurants. Property and Liability products are distributed through a national network of agents and brokers. Serving the same core markets and partnering with the most stable and reputable carriers, Distinguished’s high-limit Umbrella programs remain the clear choice in its area of specialty for superior coverage, competitive pricing, and attentive service. Through thoughtful innovation, stemming back to 1995, Distinguished Programs fosters growth and opportunities for its brokers, carriers, and employees.
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