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Survey: Required renewal info for Comp
Posted: Wed Aug 29, 2007 10:51 am
by stella
For individually underwritten workers' compensation accounts (non-group, non-program), are there any markets that DO NOT require renewal information like an Acord, updated loss runs and supplemental?
WC Renewal Info
Posted: Thu Aug 30, 2007 10:57 am
by Elizabeth B
Not that I know of. Besides, wouldn't you want to find out if their payroll increased so that they don't get hit with a huge additional premium at audit time? You also want to keep a copy of the signed application for your files too.
Posted: Thu Aug 30, 2007 11:33 am
by Big Dog
Having worked as a w/c underwriter for over 12 years, we always required updated information.
Hate to say this, but it sounds like an agent that just doesn't want to do the necessary work.
W/C
Posted: Thu Aug 30, 2007 3:05 pm
by LadyBroker
Maybe she is referring to the Renewal carrier only....if there is someone who offers automatic renewal?
Thank you.
Posted: Thu Aug 30, 2007 3:06 pm
by stella
Thanks for your replies. Makes sense to me. Just wanted to get a broader perspective on this issue. There is disagreement on this issue and I wanted to see what others have experienced. I appreciate your input.