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ALPINE'S ERRORS AND OMISSIONS LOSS PREVENTION MANUAL OF PROCEDURES:
Table of Contents
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CHAPTER 1 - INTRODUCTION
1. Introduction
2. Agency Procedural Review Findings
3. Purpose and Use of Manual of Procedures
4. Internal Audit Program
5. Errors and Omissions Coordinator
6. Conclusion
CHAPTER 2 - BINDERS, CERTIFICATES OF INSURANCE,
PRODUCER OF RECORD LETTERS
A. BINDERS
1. Binders - Introduction
2. Definition of a Binder
3. Term of a Binder
4. Binding Authority
5. Binder Preparation
6. Binder Invoicing
7. Binder Suspense
8. Binder Clearance
B. CERTIFICATES OF INSURANCE
1. Introduction
2. Certificate of Insurance - Definition
3. Certificate Preparation
4. Signature
C. AGENT AND/OR BROKER OF RECORD LETTERS
1. Introduction
2. Recommended Procedures
3. Suggested Company Binder Confirmation Letter
4. Suggested Agent or Broker of Record Letter
5. CHAPTER CHECKLIST
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CHAPTER 3 - CASH MANAGEMENT PROCEDURES
1. Introduction
2. Accounts
3. Checks
4. Cash
5. Payment by Credit Card
6. Collection of Accounts
7. Trustee Account Reconciliation
8. Sample Check Request Form
9. Trustee Account Test Audit Statement
10. Sample Letter for Authorization to Retain Interest
11. Sample Form - Acknowledgement of Agency Fee
12. Chapter Checklist
CHAPTER 4 - MAIL PROCEDURES
1. Introduction
2. Incoming Mail
3. Outgoing Mail
4. FAX & E-Mail
5. Automated Data - Discovery
6. CHAPTER CHECKLIST
CHAPTER 5 - RECORDS MANAGEMENT AND AUTOMATION
1. Introduction
2. Retention of Files
3. Manual Procedures - File and File FolderOrganization
4. Manual File Audit Procedures
5. E-Mail
6. Automation
7. Transactional Filing
8. Paperless Filing
9. Duplication of Automated Data
10. Insured's Index
11. CHAPTER CHECKLIST
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CHAPTER 6 - SUSPENSE PROCEDURES
1. Introduction
2. Entry
3. Suspense Duration
4. Suspense Call-Up
5. Suspense Follow-Up with Insureds
6. Purging
7. CHAPTER CHECKLIST
CHAPTER 7 - TELEPHONE AND FAX PROCEDURES
1. Introduction
2. Incoming Calls
3. Outgoing Calls
4. Telephone Call Records
5. Cellular Telephones
6. Voice Mail
7. Telephone Answering Machines
8. FAX Machines
9. Supplement No. 1 - Suggested Telephone Activity Log
10. Supplement No. 2 - Suggested Telephone Memo
11. CHAPTER CHECKLIST
CHAPTER 8 - COMMERCIAL LINES PROCEDURES
1. Introduction
2. Quotations and Proposals for Insurance
3. New Business
4. Renewals
5. Endorsements
6. Professional Liability
7. Cancellations or Terminations
8. Excess Liability and Umbrella Policies
9. General
10. Suggested Commercial Lines Checklist
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11. Supplement No. 1 - Summary of Coverages
12. Supplement No. 2 - Suggested Transmittal Letter
13. Supplement No. 3 - Suggested Agency Interim Audit Form
14. Supplement No. 4 - Suggested Letter on Combined Coverages
15. CHAPTER CHECKLIST
CHAPTER 9 - PERSONAL LINES PROCEDURES
1. Introduction
2. Risk Surveys and Analysis - Internal Checklists
3. Quotations
4. New Business
5. Renewals
6. Endorsements
7. Application and Policy Checking
8. Cancellations
9. Personal Lines Coverages Survey and Analysis
10. Supplement No. 1 - Withdrawal of Quotation of Insurance
11. Supplement No. 2 - Suggested Rejection of Higher Limits of UM and UIM
12. Supplement No. 3 - Suggested Rejection of Building Ordinance Coverage
13. Supplement No. 4 - "Babysitting" Suggested Letter
14. CHAPTER CHECKLIST
CHAPTER 10 - SURPLUS LINES AND NON-ADMITTED COMPANIES
1. Introduction
2. Qualifying A Surplus Line Broker
3. State Regulations and Compliance
4. Brokerage Contract
5. Placement Procedures
6. Binders, Cover Notes and Certificates of Insurance
7. Changes in Financial Rating
8. Supplement No. 1 - Department of Insurance "Watch List"
9. Supplement No. 2 - Quote Letter of Transmittal
10. Supplement No. 3 - Policy Fee
11. Supplement No. 4 - Waiver and Disclaimer
12. Supplement No. 5 - Financial Rating of Company
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13. Supplement No. 6 - Rating Change of Company
14. CHAPTER CHECKLIST
CHAPTER NO. 11 - CLAIMS
1. Introduction
2. ACORD Claims Forms
3. Claims Reporting
4. Claims Entry and Recording
5. Claims Status Reports
6. Claims Draft Procedures
7. Financial Responsibility Law
8. Claims Closing Notice
9. Supplement No. 1 - Errors and Omissions Claims Report
10. Supplement No. 2 - Suggested Declination of Claim
11. Supplement No .3 - Underwriting File Claims Summary Sheet
12. Supplement No. 4 - Claims Activity Sheet
13. Supplement No. 5 - Sample Client Letter on Claim Closing
14. CHAPTER CHECKLIST
CHAPTER 12 - EMPLOYMENT PRACTICES
1. Introduction
2. Employment Practices Liability
3. Employment Practices Liability Insurance
4. Employee Benefits Liability and Fiduciary Liability
5. General Office Procedures and Practices
6. Personnel Procedures
7. Audit Procedures
8. Addendum
Addendum A - Suggested Letter to Prospective Insureds
Addendum B - Ten Reasons Why Employers Need EPL Insurance
Addendum C - Suggested Letter - "Claims Made Policy
Addendum D - Suggested Letter - Rejection of EPL Insurance
CHAPTER 13 - GENERAL INFORMATION
A. INDEPENDENT CONTRACTORS AND LEASED EMPLOYEES
1. Introduction
2. United States Supreme Court Decision - "Nationwide Insurance v. Darden"
3. Contracts Between Parties
4. Withholding Taxes and Social Security
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5. Ownership of the Business
6. Monitoring the Quality of Business
7. Marketing the Accounts
8. Services and Facilities
9. Binding Authority
10. Errors and Omissions and General Liability Insurance
11. Worker's Compensation
12. Internal Revenue Service Rule of 20
13. General Liability Insurance Policies
14. Employment Practices Liability Insurance
15. Leased Employees
B. POLICY CHECKLIST
1. Introduction
2. Policy Checklist
C. FAIR CREDIT REPORTING ACT OF 1970
1. Introduction
2. Agency Requirements
3. Restricted Use of Confidential Information
4. Letter A - Suggested Letter to Insureds
5. Letter B - Suggested Letter - Employee Permission
D. AGENT'S DUTIES AND RESPONSIBILITIES - "NEW SECTION"
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