Commercial Underwriting Tools – Updates & Additions Available on the WRC Website
By Linda Ziegler, Commercial Underwriting Consultant
We are excited to announce that the newly updated Commercial Eligibility Guide is now available.
The new guide is called All Commercial Eligibility Guide and can be found on the secure side of the WRC website. This document was previously known as “All Lines Classification Eligibility Reference Guide – Red/Green Pages.”
In conjunction with the updated guide, we’ve released a Personal or Commercial Decision Tool, which will help determine when a risk may need to be changed from the Incidental Business Pursuits to Home Based Business that are part of a personal policy, to a full-fledged Commercial policy. This tool is also available on the secure website.
Commercial Eligibility Guide
We have made no changes to what is or is not eligible in the Commercial Eligibility Guide. Rather, we’ve added information and added clarification. Tabs for each section of the document are on the bottom of spreadsheet and include:
- Introduction tab: This new tab spells out common abbreviations used in commercial coverage as well as some general underwriting guidance when reviewing commercial risk types.
- Program Eligibility tab: This new tab lists the eligibility rules under each commercial program type: Businessowners, Artisans, Commercial Property and Commercial General Liability.
- Eligible Classes tab (formerly the green tab): This tab has been tweaked to be more user friendly. Classes are still shown in alphabetical order and list available programs. The tab features an updated notes section, which will help the underwriter determine what is and isn’t considered within each class. Any risk type that must be referred to WRC before quoting includes a “Contact WRC” note displayed in red. Those risk types require a discussion with the commercial underwriting consultant to ensure all aspects of the risk are examined.
- Ineligible Risk Types tab (formerly the red tab): The last tab on this spreadsheet lists all of the ineligible, or risk types that are not allowed.
The guide should be used as your starting point when deciding if a commercial risk should be pursued. It is important to note that all previously eligible classes are still eligible. You don’t need to ensure that your renewal risks still meet eligibility rules. Rather, this spreadsheet has been redesigned to be more comprehensive and easier to use. You should be able to determine if a risk type is eligible and, if so, which program may be appropriate. You can easily find ineligible risk types within the same document. You can search within each page of the document by clicking on the “find and select” icon in the upper right of each tab. To find the All Commercial Eligibility Guide, log in to the secure website and go to WRC Documents > Commercial Lines Underwriting > General Information.
Personal or Commercial Decision Tool
The Personal or Commercial Decision Tool is a new resource. It explains the eligibility rules for the Incidental Business Pursuits (IBP) and the Home-Based Business (HBB) options. If your risk no longer qualifies for coverage under a personal program such as IBP or HBB, you can see if it fits the requirements of a commercial program. This document should serve as a reminder of the general rules around each program available to your insureds with business exposure. The tool can be found by logging in to the secure website and going to WRC Documents > Commercial Lines Underwriting > General Information or WRC Documents > Personal Lines Underwriting > General Information
If you have questions you can contact:
Linda Ziegler, Commercial Underwriting Consultant
Melissa Stream, Personal Lines Underwriting Consultant