Commercial Lines Underwriting Procedures
The following procedures & guidelines are to be used when submitting and/or writing new business with Standard Lines Services (SLS). Please speak to your underwriter regarding questions or market availability.
SUBMITTING QUOTES:
• Fax or E-mail a completed ACORD application to 918-336-2178 or email to your SLS Commercial Underwriter.
• For accounts that are typically written as a Business Owner’s, you can complete the Small Business Online Submission.
• Include prior coverage information including carrier, loss summary and target premium. Contractors will require 3-year hard copy loss runs at the time of submission.
• Additional information may be required during the quote process such as supplemental applications, website address, detailed description of operations and any information that will assist in providing the best possible quote.
• Quote turn-around time will depend on factors such as the size of the account, type of risk, quality of submission, complete information provided, and SLS rating authority. If quote is outside of SLS authority, it will be referred to carrier Turn around time on submissions referred to carrier will require additional lead-time. (30 to 45 day lead-time is generally preferred). Contact your underwriter for any “rush” submissions.
• A fax confirmation will be sent upon receipt of your submission. If you do not receive confirmation within 24 hours, please contact the SLS commercial department.
• Once the submission is reviewed by underwriting, a fax will be sent to the agency if the risk is not eligible through any of SLS markets; otherwise, the risk will be quoted through eligible and available markets to your agency. The quote proposal will be emailed or faxed based on agent’s preference. Any questions regarding the quote proposal should be directed to the underwriter’s name on the proposal cover letter.
• All quotes expire 30 days from the date of the original quote proposal at 12:01 AM.
Binding Procedures:
• Fax your request to bind with the completed accord application on or before the requested effective date. Signed original application(s), & any required supplemental application(s), including loss runs, if applicable, with down payment payable to the writing company, must be postmarked within 48 hours of binding.
• Upon review and acceptance of the “Bind Request” an Acord Binder will be issued. If you do not receive an Acord Binder, please contact your SLS Underwriter to confirm receipt of your bind request.
• Coverage cannot be bound, amended or cancelled via the voice mail system. Please fax your request to bind.
• No coverage is bound without written confirmation from SLS. If no response by effective date of quote, the quote is closed and no coverage bound.
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