26. Nuts & Bolts Develop & maintain specs. Be able to publish thorough specs with a push of a button.
27. Nuts & Bolts Develop & maintain specs. NOT LIKE THIS
28. Nuts & Bolts Develop & maintain specs. Specs should provide everything any broker needs to produce a quotation. We measure quality by an absence of questions. This quality saves precious time and prevents errors and surprises.
29. Nuts & Bolts Develop & maintain specs. Specs should contain lots of tabular data Vehicles Drivers Equipment Sales – 5 year history & projection Payroll - 5 year history & projection Subcontractor volume - 5 year history & projection
30. Nuts & Bolts Develop & maintain specs. Specs should describe your operations. What you do, and where you do it. Locations you occupy. Your web-site is looked at by underwriters
31. Nuts & Bolts Develop & maintain specs. Specs should describe your coverage needs. Brokers can build this out with you. Current policies are a start, but are usually flawed. Stipulate your requirements for certificates of insurance. Include a wish list, or a missing list – a work in progress.
32. Nuts & Bolts Policy History Reports- Loss Runs Reports from your insurance carriers of your premium and claims history. They need to be updated at least each year, 90 days prior to expiration. No one can accurately quote your insurance without currently valued loss runs.
33. Nuts & Bolts Policy and Loss History Present a complete policy history table 5 years of policy history for Auto Liability Property Workers Compensation Display premiums and losses for each year
34. Nuts & Bolts Policy History Reports- Loss Runs How to get them. We advise against depending on brokers. Identify where your loss runs come from. Set up letters requesting them. Shoot the letters out each year at the right time. By law, companies must provide in 10 business days. Brokers can help you set this up.
35. Nuts & Bolts Policy and Loss History Make sure you have a direct conduit to all of your loss runs at all times. They are absolutely vital to your success.
43. Broker Relations You can avoid being manipulated. Simply be candid, firm, friendly, and fair. They will respect you, and get to work saving you money.
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48. Resources – www.icrs.biz to make it real for you.