Properly processing endorsements plays an important role in reducing complications during the renewal process as well as reducing potential Errors and Omission situations.
Endorsements are received from the carrier via e-mail or by mail and transferred to EtFile. AE attaches end’t to the proper policy in TAM using one of following options:
- If being processed by the Account Associate to process, attach to a Q-ER activity using proper ET Filing Procedure
- For documents received via e-mail, send to Account Associate’s e-mail with instructions to attach to ET, along with correct activity code to assign and instructions.
- For documents received in ETFile, move endorsement to Account Associate’s ETFile.
- If AE is processing , attach via ET File to activity code SE-2
Endorsement is checked against following items:
- Endorsement request to carrier – to ensure coverages received are the same as coverages requested
- Application in TAM– to ensure system is updated with all details including class code, rates, new forms etc.
When checking an endorsement, the following items must be verified for accuracy:
- Effective date of endorsement
- Named insured
- Policy number
- Carrier (issuing company)
- Coverages including limits, deductibles, exposure basis, etc.
- Change in forms (revision, addition or deletion). Confirm that the agent and insured copy of the endorsement includes a copy of the revised or new form.
Steps to follow:
- Close out open activity (Q-CS) or (SE-1) that is pending receipt of endorsement from the carrier
- Check endorsement
- Confirm TAM is updated
- Request any necessary corrections to endorsement
- E-mail or send to insured with cover letter
- Use Form Letter (ATTACH/ADD/LETTERS/FORMLETTERS/Endorsement Encl. Non-Premium)
