CA HO3 Loss Surcharges

[sankykid]

I know many companies surcharge prior losses but am not clear whether or not this applies if the cause of loss is fully remedied.

Thanks.

[mccluney]

Most insured losses are reported to "Choice Point" which most insurance companies access before issuing a policy. Always disclose prior losses. If the client has made a "remedy" that will prevent the loss from re-ocurring it will make the risk more acceptable. Documentation to verify the "remedy" would go along way to acceptability of the risk.

The circumstance of the loss and company rules will dictate whether a surcharge may apply. Some companies do not surcharge-- it becomes a matter of acceptability.

[mica.cooper]

Roughly half of reported losses are to Choicepoint "Clue" and the other half of reported losses go to ISO's "A+" with overlap on all the big companies. A LOT of losses are not reported to either service. The ideal situation is that all companies report to both Clue and A+.

Every company has different rules which apply. You will need to contact the company to find out.