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”.