Knowledge Corner

Now that you’ve decided to implement a Wrap and have defined your project risk, and collected the underwriting data, you now want to build your marketing submission for the carriers. 

Building the market submission is a task done in conjunction with the brokerage team who will be critical partners in its development and their expertise should be relied upon here. 

As the end user of the insurance program, it’s vital to understand what goes into a quality submission, so you can ensure the insurance providers clearly hear your story and exactly what you’re looking to accomplish with this program. 

There are several ways to build a submission, but a good submission should always include the following items:

1. 1. 1. 1. 1. A Clear Objective
            2. Desired Program Structure
            3. A Clear List of Exposures
            4. Loss history
            5. Coverage Specifications
            6. Risk Management Process
            7. Quote Due Date
            8. Timing
               
               

Telling your story to the underwriters in a clear way, is the best way to ensure you obtain the Wrap program you desire. By doing so, your Wrap program becomes a great tool for managing your project risk and potentially results in a savings to your project’s bottom line. 

Make sure you are working with TSIB on all your Wrap programs. With our expertise in the construction industry. We help you put together the best market submission needed to get you the right Wrap program. If you have any questions about your upcoming Wrap program, reach out to TSIB and speak with one of our Wrap-Up Consultants.   

TSIB’s Risk Consultants are currently servicing the following locations:
East Coast: New York City, NY; Bergen County, NJ; Fairfield County, CT; Philadelphia, PA
Texas: Austin, San Antonio, Houston, Dallas
California: Orange County, Los Angeles County, Riverside County, San Bernardino County, San Diego County

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