Reminder for Builders Risk, Contractors Equipment Accounts

Feb 20, 2014

With the ability to rate, quote and issue Builders Risk and Contractors Equipment policies online through our issuance system, US Assure makes doing business fast and easy for you. While our system does not generally require you to submit paperwork during the policy issuance process, it is critical that you obtain a signed application even if the submission for the account was completed online. 

If a policy or endorsement request is made, documentation of the request should be recorded and filed appropriately. Any file notes regarding a customer’s request for a policy or endorsement, that would show the specific policy being issued or item being endorsed, the date the request was received, the requested effective date and documentation of premium collected should be retained for your records. This includes obtaining a signed application for our Builders Risk and Contractors Equipment policies, which are generally issued online. 

Obtaining a completed application after policy issuance
After issuing a Builders Risk or Contractors Equipment policy online through our issuance system, we will immediately present a completed application and policy to you for download and print. You will find a link to download a PDF of the completed application on the same screen that the customer’s policy is presented to you. We require you to obtain a signature on the application at the time you deliver the policy to your customer. The signed application should be filed in your records for future reference.

As part of doing business with US Assure and your role as a licensed insurance professional, you have a responsibility to maintain in your files complete documentation of your customer’s request for coverage or changes to coverage. This practice is also a good measure for reducing your errors and omissions exposure.

We appreciate your cooperation. Please contact us at (800) 800 – 3907 should you have questions. 

 

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