Getting It Right the First Time: The Importance of Full and Complete Submissions

Brittany Malkin

Business Development Manager

January 22, 2021

Last year may be in the rearview mirror, but the hard market conditions we experienced in 2020 are far from over. This year, with insurance buyers looking at 20% to 50% increases in premiums and carriers reducing their writing capacity and coverage, underwriters will be more selective as they review submissions, creating challenges for agents/brokers. This makes it a great time for insurance professionals to review new business and renewal processes to ensure that only full and complete submissions are being sent to the carrier/wholesaler. Here are some tips for getting the application/submission process right the first time.

Double Check Information on ACORD Forms
A complete underwriting submission helps an underwriter to quickly and efficiently log new business, streamline processing and avoid delays.

  • Are the correct ACORD forms being submitted for the specific line(s) of business?
  • For commercial lines, has the ACORD 125 been completed? Because the ACORD 125 is a good indicator of whether specialty coverage is needed for the risk, be accurate regarding information about the applicant, the property and the business. In addition, don’t forget to include the business’ NAIC code or FEIN along with all appropriate coverage forms to the ACORD 125 where applicable (e.g., property, glass and sign, accounts receivable and valuable papers, crime and miscellaneous crime, motor vehicle cargo, equipment floater, commercial general liability, business auto and vehicle schedule).

Have Specialty or Supplemental Applications Been Completed with the Submission?
The experts at Worldwide Facilities suggest searching a wholesaler’s website for the most appropriate supplemental applications. If they can’t easily be located, contacting an underwriter is the next option. An underwriter can help an agent/broker determine whether any specialty supplemental coverage forms, questionnaires or applications are required from the carrier.

Include Currently Valued Loss Runs
Submitting a new business application without currently valued loss runs can significantly delay processing, so they should be requested as early in the process as possible. For accounts with significant claims activity or multiple losses, draft a narrative that explains the situation, so the underwriter/carrier better understands the issue and does not automatically decline the submission.

General Liability Applications
Your General Liability applications should include:

  • A breakdown of sales that reflects the insured’s exposures as brokered, direct shipments, repacked product, manufactured product, etc.
  • Three years’ prior sales history and details regarding the insured’s product recall program.

Commercial Auto Applications
Your Commercial Auto applications should include:

  • Vehicle descriptions, including year, model, vehicle identification number and value.
  • Driver’s license numbers and expiration dates, driver dates of birth and hire, and, if required, the date of each driver’s last physical exam.
  • Delivery or use radius.
  • Training requirements for drivers.

Workers’ Compensation Applications
Your Workers’ Compensation applications should include:

  • Payrolls by state and class code and include at least three years’ prior data to provide underwriting with an indication of any significant changes.
  • Details relating to safety procedures, programs and employee training.
  • Loss runs and supplemental applications.

Finally, it’s important to submit full and complete applications as early as possible. For new business, that means ideally getting applications in 120 to 150 days ahead of the proposed inception date, and 90 days for renewals.

Worldwide Facilities has unprecedented access to a wide range of markets and solid relationships with virtually every specialty insurer on the market. The strength of our brand positions us to fully serve our retail insurance agents and brokers and to serve small, medium and large accounts.

For information, please contact Brittany Malkin, Business Development Manager, at 661-304-9686 or

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