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Roadmap to Renewal – Exit 2 

RoadMap Step 2
November 2, 2017 at 3:28 a.m.

Our 2nd stop on the Roadmap to Renewal is the "Underwriting Phase."

By Rob Foote, Roofing Risk Advisors, LLC.

Now that we’ve covered Exit 1 with the topics that need to be reviewed three to four months before renewal, it’s time to look at what comes with Exit 2 – the Underwriting Phase.

Exit 1 - Pre-Renewal  (100 - 120 Days Prior To Renewal Date)

  • Discuss Open Claims and Closure Strategy
  • Openly Communicate Budget Expectations for Future Bidding Purposes
  • Review Risk Management Strategies to Help Mitigate Potential Claims
  • Discuss Current Market Conditions for Roofing Professionals
  • Communicate Current Exposures to Roofing Industry
  • Discuss: Projections, Updates, and Limits
  • Discuss Optional Essential Coverages (i.e. Cyber, Pollution, E&O, EPLI, Crime, etc.)
  • Provide an analysis of Workers' Comp Experience Mod (NCCI Worksheets)
  • Review Scope of Work and Match Insurance Program with Partner Carrier
  • Obtain Updated Certificate Holder List

Exit 2 - Underwriting Phase  (75 - 100 Days Prior To Renewal Date)

  • Large Claim Description and Action Plan to Prevent Re-Occurring
  • Obtain Updated Projections and Underwriting Data to Submit to Partner Carriers
  • Discuss Budget Objectives to Match Roofing Clients' Expectations

Are you following the road map to a successful renewal? Download our Roadmap to Success: Exit 2

Contact the Roofing Risk Advisors to help you reduce costs, fuel margins, and increase profitability.

Rob Foote is a deeply experienced Insurance and Risk Management Advisor to the roofing industry, 15-year member of National Roofing Contractors Association (NRCA), and a director of the Florida Roofing & Sheet Metal Contractors Association (FRSA). For more information, contact the author at 407-493-2121 or go to www.roofingriskadvisors.com.



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