8 Tips for Creating an Insurance Market Submission

November 2, 2021

Business workers reviewing past reports looking for any errors Image credit: Portrait Image Asia/Shutterstock

With Carriers having a low underwriting capacity, right now it’s important to provide a “Best in Class” market submission at your upcoming insurance renewal. It will enable you to obtain the coverages you need, as well as help keep your premiums low. Your submission is your chance to demonstrate why your company is a “good” risk to the underwriters.

When underwriters are reviewing a market submission, they are looking for you to answer all of their questions. If your submission showcases your company as a good risk, it’s hard for them to say no. Here are 8 tips on what you need to include when creating an insurance market submission:

1. Clear Objective

Make sure you explain what the submission’s objective is. It should be clear, concise, and be well-defined.  

2. General Description of Operations

Define your operations, scope of work, and any trade-specific jargon. Underwriters don’t want to look up definitions/language they are unfamiliar with.

3. Desired Program Structure

Discuss the type of program you want and the limits you want to have.


4. Clear List of Exposures

Identify your exposures. This includes explaining the location of your business operations, number of employees, revenue, and payroll.

5. Loss History

Provide your loss history, as this helps determine how aggressive an underwriter can be with your company.

6. Coverage Specifications

What endorsements do you want included? ISO Endorsements are typically broader and provide more coverage vs the Carrier’s own endorsements.

7. How Your Company Handles Risks

In your submission address the safety culture, your safety plan, and your claims process.


8. Address Bad Claims 

It happens- companies can experience a bad claim. Explain the claim, what went wrong, and how you are preventing it from happening again.

At the end of the day, a complete market submission creates less work for underwriters. Less work usually translates into a more favorable insurance premium for your company. Reach out to TSIB today and speak with one of our Risk Consultants. See how we help you implement these tips and put your company on the path for long-term success.


Learn about creating a "Best in Class" Market Submission! 

TSIB’s Risk Consultants are currently servicing the following locations:

East Coast: New York City, NY; Bergen County, NJFairfield County, CTPhiladelphia, PA

Texas: Austin, San Antonio, Houston, Dallas

California: Orange CountyLos Angeles County, Riverside County, San Bernardino County, San Diego County


Topics: Construction Insurance

Written by The TSIB Team

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