Policies and Procedures

To ensure consistency and reduce E&O exposure, agencies should have a policies and procedures manual in place, laying out tasks and workflows. This tool should:

be used to support staff activities
be used to train new employees
meet "Rules of Evidence" requirements
be reviewed periodically and updated as needed

New customizable Agency Procedure Manual

To help agencies develop their own manual with significantly less work and at an affordable cost, IA&B now offers an Agency Procedure Manual (APM) product. Our new APM is a customizable collection of electronic documents that agencies can use to formally document their business procedures and policies. The tool comes stored on a USB drive (thumb drive).

Click on the manual subsections below to view the contents in each:

General Agency Procedures

Automation Policy
Credit and Collection Policy and Procedures
- Statement of General Policy
- Client Payment Options
- Insurance Policy Delivery to Client
- Assigned Risk Policies
- Advances to Companies on Behalf of Clients
- Accepting Payment Past Cancellation Period
- Applying Credits
- Cash Handling Procedures
- Producers' Role in Agency Credit Policy
- Cancellation of Unpaid Accounts
- Billing and Policy Procedures
- Collection Procedure
- Procedures for Clearing of Past Due Receivables
Binding Procedures
- Guidelines
- Securing Coverage
- Internal Control
- Additional Points
General Mail Handling
- Mail Delivery
- Mail Handling
- Outgoing Mail
Document Management Procedures
- Overview
- Sorting Incoming Mail
- Personal Lines Incoming Mail Processing
- Commercial Lines Incoming Mail Processing
- Employee Benefits Incoming Mail Processing
- Scanning Incoming Mail
Claims Processing
- Dealing With Insureds and Claimants
- Dealing With the Company
- Claims History
- Claims Mail Handling
- Summons and Complaints
- New Reports
- Workers' Compensation Claims
- First Party Drafts
E&O Procedures
- Potential Claims
- E&O Claims Review Committee
- E&O Prevention
- Client & Company relationships
- Legal Issues
- Agent Duties
- Why E&O Occurs
E&S/Residual Market Procedures
Suspense System
Record Retention Schedule
Standard Conversation Form Procedures
Telephone Transactions Procedures
- Taking Messages
- Members of Families of Agency Personnel
- Fax Procedures
Electronic Communication Procedures
- e-Mail Procedures
- Internet Procedures

Commercial Lines Procedures

Lead Development
Quotation Work Flow & Procedures
New Business Work Flow & Procedures
Renewal Work Flow & Procedures
- Section A - Renewal Review
- Section B - Renewal Not Received Prior to Expiration Date
- Section C - Renewal Policy Received Prior to Expiration Date
Endorsement Work Flow & Procedures
Cancellation Work Flow & Procedures
- By Insured
- Agency Billed Non-Pay
- Direct Bill Non-Pay
- Company Issued, Non-Renewal & All Other
Reporting Policies Work Flow & Procedures
Audit Work Flow & Procedures
- Final Audits
- Interim Audits
Checking and Verification Work Flow & Procedures

Personal Lines Procedures

Quotation Work Flow & Procedures
New Business Work Flow & Procedures
Agency Bill Renewal Work Flow & Procedures
Direct Bill Renewal Work Flow & Procedures
Endorsement Work Flow & Procedures
Cancellation Work Flow & Procedures
- Cancellation Requested by Insured
- Company Issued Direct Notice of Cancellation of Direct Billed Policy (Non-Payment)
- Company Issued Direct Notice of Cancellation of Agency Billed Policy (Non-Payment)
- Agency Issued Direct Notice of Cancellation (Non-Payment)
- Company Issued Direct Notice of Cancellation/Non-Renewal (All Other)
Checking and Verification Work Flow & Procedures
- Policy Review

Employee Benefits & Financial Services Procedures

Introduction
Prospecting
Quotation Work Flow & Procedures
New Business Work Flow & Procedures
Renewal Work Flow & Procedures
- Renewal Remarketed
- Renewal Not Remarketed
Individual Life & Health Insurance Workflow & Procedures
Checking and Verification Work Flow & Procedures
E&O Considerations

Job Descriptions

Operations/Agency Manager
Commercial Lines Manager
Account Executive/Premier Commercial Accounts
Account Representative/Premier Commercial Accounts (CSR)
Standard Commercial Lines Agent
Account Representative/Standard Commercial Accounts (CSR)
Commercial Lines Technical Assistant
Personal Lines Manager
Personal Lines Agent
Personal Lines CSR
Personal Lines Technical Assistant
Bookkeeper/IT
Receptionist

The APM also contains more than 120 forms, worksheets and checklists as well as links to related IA&B resources.

SAMPLE: Personal Lines Endorsement Work Flow and Procedures

SAMPLE: Commercial Lines Audit Work Flow Procedures

Our new APM was developed in cooperation with The Moberg Group, a leading insurance agency consulting firm. Whether processing a non-premium endorsement or the most complex reporting form policy, our APM makes the process simple with easy-to-follow workflows that work with any agency management system.