Hunter Nelson explains how to document when an insured rejects coverage on an application. Get initials or signatures next to the specific rejection, not just a blanket form. High deductibles like $2,500 or $10,000, excluded drivers, and unusual exclusions all need that paper trail.
$2,500; $10,000; $12,500
All right, so talking to my E O carrier they said not to send.
Out actual rejection forms but instead what.
We'Re going to do is put initials.
And signatures next to coverages that might stand out.
These are going to include high deductibles.
This can include excluded drivers. This can include, you know, so you put an exit driver list, they say.
Those drivers aren't in there.
This is going to be excluded coverages.
Anything that you think that the insured.
Has said they don't want and you've offered anything that you're a little sketched.
Out on or any coverages that are.
Pretty much out of the ordinary like big time exclusions. Anything on those lines.
So like just for a quick example here I got Kinsale.
Kinsale, you're basically buying a piece of paper. So right here cover autos excluded. I don't need to put right there.
But right here I can go put the coverage auto or put a, put.
A signature or not a signature but a initials right here or a signature don't really matter. You know, let's say it's deductible is $10,000. You don't need a signature next to 2500 deductible. Let's say it's 10,000.
Put initials here if you want to.
You know or like I, I could have done it right here with a 12,500 deductible.
Anything that you're, you're unsure of anything on those lines, make sure that you.
Have initials or signatures next to coverages. Again, any drivers that excluded anything that you're hesitant on because of way insured's acting and exclusions, for example policy exclusions that might not that the insured should probably be knowing of.
Anything along those lines. We don't want to send it out.
Over, over a rejection form. Again, last thing here was anything you offer the client and they rejected.
So you don't want to send it all to rejection form. But you know, Carrie just said that's because anything that you don't include on there then should could be retained as.
It would have been covered.
So just put a signature next to the application.
Make sure you're doing this stuff this site, protect yourself.
