Page 8 - Personal Underwriting Mandates & Guidelines - Binder - Version 3

General
Any mid-term adjustments or cancellation of risks/policies on which reinsurance cover would have been placed or required, must be referred within 30 days of the effective date of the change. Risks above the RAL must be referred at each renewal to ensure that reinsurance arrangements are amended and renewed in line with the renewal terms.
RISK INFORMATION
Risk information is the cornerstone of accurate rating and underwriting. The following details should be obtained at quote stage:
○ location of the risk to be insured
○ security measures present at the risk address
○ detailed information on the exposure to storm or water and other potential natural hazards (i.e. those beyond
the control of the insured, for example unusually high lightning activity)
○ construction material of the roof and walls of the building
○ overnight parking arrangement for vehicles
○ previous claims/loss history/special terms and conditions
○ number of years of uninterrupted insurance (comprehensive Motor, Buildings and Household contents)
○ whether or not the risk is currently insured.
Kindly note: This list is not exhaustive. The product specific proposal form will highlight the relevant rating and underwriting questions.
Buildings and Household contents survey requirements and actions
Once the underwriting information is evaluated from the proposal or needs analysis, the underwriter must decide whether the risk can be accepted in the interim or whether a desktop survey is required prior to going on risk. All binder brokers are given access to the Geo-Risk Information Platform (GRiP) tool to run and download an IRiS desktop survey report, at Hollard’s cost. Requests for access to the tool for new users should be sent to the relevant business development manager.
Please note: Hollard only subscribes to the GRiP IRiS report facility and not to the other services or reports the GRiP platform offers. Any other reports run on this platform will be for the cost of binder broker.
The GRiP IRiS report combines satellite and aerial imagery, with the most up-to-date and trustworthy risk data available.
The data includes:
○ base map data, emergency services and water areas
○ national address directory and cadastral information
○ crime
○ flood (rivers, dams and coastlines information – proximity and elevation)
○ lightning
○ geology and lithology
○ vegetation
○ fire
○ earthquake
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