Underwriter's best terms for your company
30 April 2008
Market negotiations are coming under more scrutiny than ever and while specifi cations have been an important element of these negotiations in the past, detailed, comprehensive specifi cations presented in a professional manner by your broker to the markets (after you've signed off on the detail) are a critical requirement. And, while every underwriter is going to be looking for different items, remember:
• Up-to-date claim reports with large loss details
• Complete breakdown of operations, including payroll and revenues for each division of your company
• Strong business plan explaining your company's history in your industry
• Key personnel biographies and key completed projects
• Risk and contract management background.
• An in-depth knowledge of these fi ve areas is the best way to get an underwriter's best terms for your company while getting your specs to the “top of the pile”.