Completing insurance applications or updating them on renewal, is a task I imagine you spend a good portion of your time on – or entering the information on online systems to get a quote.  This work can become routine, monotonous, tedious – but what we put into those blanks, or into the system can have a major impact on the price we end up with. To make that clear, and to focus on what matters the most, we’ll connect some dots between the information you are asked for, and the result.  

Our focus will be on the Commercial Auto liability premium development because that is the premium driver for the Commercial Auto policy, but the same information applies to the physical damage coverages as well. We’ll also discuss one specific subjective rating plan available to most of your carriers and give you some ideas of how you might be able to influence the use of those plans by your underwriter.

Topics Include:
• A review of the Acord 127 for pertinent information to be provided on each “auto.” 
• A review of the “new” ISO rating formula for liability and how the information you provide is critical for proper premium development.
• An explanation of the “subjective” rating plans available to most carriers including how you can influence their use.