About Us Contact Us Legal Notices Privacy Notice Terrorism Risk Insurance Act Coverage - Rating Instruction - NAA-124 State Specific Forms FAQ's - Vacant Express® - APS 1. WHAT ARE THE ADVANTAGES OF USING THE ONLINE APPLICATION PROCESSING SYSTEM? The advantages of using the electronic submission process are: • Immediate feedback on eligibility. • Obtain premium indication if eligible. • Eliminate the need for overnight mail hence reducing expenses and time. • The underwriter is willing to issue a binder immediately if risk is acceptable after review. Binder is subject to the receipt of the original unaltered and signed application and your payment within 10 working days after binding. • You have payment terms on the first payment. You will received an invoice along with the binder when the underwriter approves the risk. PLEASE NOTE THAT YOU DO NOT HAVE BINDING AUTHORITY FOR THIS BUSINESS. NO RISK IS BOUND UNTIL A BINDER IS ISSUED FROM THE COMPANY. WE WILL BIND COVERAGE EFFECTIVE THE DAY WE RECEIVE THE SUBMISSION IF THE UNDERWRITER APPROVES IT AFTER REVIEW. 2. WHAT DO I HAVE TO MAIL TO YOU AFTER RECEIVING A BINDER? We must receive within 10 working days of binding, a copy of the invoice, a check for the amount due on the invoice, and the unaltered original signed application. 3. WHAT HAPPENS IF PAYMENT AND THE ORIGINAL UNALTERED SIGNED APPLICATION IS NOT RECEIVED IN A TIMELY MANNER? We will mail a Direct Notice of Cancellation for non-payment to the Insured with copies to the mortgagee if applicable and to you. You will still owe us the pro-rated premium. 4. WHAT HAPPENS IF PAYMENT AND SIGNED APPLICATION IS RECEIVED AFTER THE CANCELLATION IS MAILED OUT? We will issue a reinstatement notice to all assuming of course that all is in order. 5. WHAT IF THIS HAPPENS MORE THAN 3 TIMES? We do not anticipate a problem in this area. However, should an agent choose to abuse the system, they will lose the privilege of using the on-line submission system and will not be able to log on. They can still use the old method of submitting business through the mail. 6. DO WE HAVE TO FILL IN EVERY QUESTION ON THE APPLICATION? Every question should be answered on the application. If there are answers that are not applicable, you can answer “None.” For example, the application asks whether there are Mortgagees or Loss Payees. If there are none, answer “NONE” on the line provided in the application. There are some questions that MUST be answered or the application cannot be sent. These are designated by a red asterisk (*) on the screen. For example, we need to have the name of the Insured, their address and the address of the property to be insured. If this information is not provided, the screen will not allow the application to be sent to us and the screen will tell you that this information is required before the application can be transmitted to us. 7. HOW LONG WILL IT TAKE BEFORE WE KNOW THE RISK WAS EITHER BOUND OR DECLINED IF THE RISK IS SUBMITTED ELECTRONICALLY? Our goal is to have an answer back to you within 2 business days. This is much faster than a mail submission. 8. WHAT IF WE DISCOVER THAT THERE WAS AN ERROR IN THE APPLICATION AFTER THE APPLICATION WAS TRANSMITTED ELECTRONICALLY? Once the application is sent to us electronically, it cannot be changed by you. However, you can either call or e-mail the underwriter and we can make the change before the risk is bound. If the policy has been bound, the change must be made via endorsement. If the change is significant to the exposure written, the policy may have to be cancelled. For example, if a risk was submitted and bound as a vacant and it should have been a renovation, the underwriter will re-evaluate the exposure. If we are willing to write it, the previous vacant policy will be cancelled and it will be re-written as a property under renovation. The premium will change, so we will have to cancel the previous policy. 9. HOW DO WE ATTACH AND SEND PICTURES TO THE APPLICATION? There will be instructions on how to complete the application and attach pictures. This will be available to you on the screen when you bring up the automated application system on your computer. Once the application and pictures are submitted to us, the system will keep track of them for us as a package. The pictures will need to be in a digital format, such as taken with a digital camera or scanned onto your computer using a scanner and printed photos. 10. HOW WILL WE KNOW THAT THE APPLICATION WAS RECEIVED? You will receive an acknowledgement of receipt on your computer that tells you the application package was received in our office.