Typically to qualify for Large Account Deductible or other Loss Sensitive Program a Dealership Operation will have several full sales and service dealership locations, often 25 or more and develop standard Garage Liability Premiums in excess of $750,000 and standard Work Comp Premiums in excess of $750,000.

 What we will need to evaluate a new business submission: 

1.                  Fully Completed ACORD Applications for all Coverage Lines to be included

2.                  Property Information can be in a spreadsheet format. (Sample Attached)

3.                  A minimum of two years of current, audited financial information

4.                  Detailed loss runs – 5 years

5.                  A loss summary, by line by year

6.                  Details of all Claims and Losses in excess of $25,000, including action taken by insured to prevent future occurrences of the same nature.

7.                  System Requirements (e.g. loss runs, on-line access to adjuster's notes, ability to create and run reports, etc.)

8.                  Competition information (other brokers/carriers providing quotations)

9.                  Inspection contact (Name, title, location and telephone number)

10.              Quote date, should be at least 20 days before the renewal date.

11.              Description of incumbent carrier's program (incurred loss, paid loss, retro deductible, guaranteed cost, etc.)

12.              FEIN Number

13.              Applicable NCCI/State experience mods (Workers Compensation)

14.              A description of the desired program, in other words, lets try to provide the program they want not just what they currently have.

There are a few things that need to be stressed:

Time is critical to delivering a successful quote. We must have the COMPLETE information a minimum of 60 days prior to the desired quote date. Stress should be placed on the word complete!

Whenever possible, it is our STRONG PREFERENCE to get before the customer for a pre-quote meeting.  This allows us to get a handle on the customer's service needs, as well as a chance to differentiate our service from that of our competitors.  We find this simple step added to the process greatly enhances our chances of writing business.

Security, usually in the form of an evergreen letter of credit, on a bank acceptable to the Carrier, is typical to the business we write.  This LOC must be in the hand of the Carrier prior to the policy effective date.

All loss sensitive programs will require the completion of both a fiduciary agreement, and a claim service agreement.  The fiduciary agreement outlines how the Carrier will use the LOC, and under what circumstances.  The claim service agreement outlines the service to be provided, and the cost. These agreements must be signed by the Insured and returned to the Carrier prior to the policy effective date.

Our quotations are normally net of any commission. These tend to be high maintenance accounts for the Broker so consider your Broker Fee carefully.

These are complex accounts and we are here to help. Call Maria McDougal at (916) 989-2139, email: mlmcdougal@armonline.com  or Jerry Rogers at (209) 473-8937, email: jrogers@armonline.com if you need immediate help or have questions.