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Insurance Proposal for [Client.Company]

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Business Insurance Services Proposal
Property, Commercial Liability, Business Auto, Workers’ Compensation, & Commercial Umbrella Liability Insurance
Policy Period: [Policy.StartDate] to [Policy.EndDate]
Created on: [Created.Date]
Proposal Valid Through: [Expiration.Date]

Prepared By:
[Sender.FirstName] [Sender.LastName], [Sender.Title]
[Sender.Company]
[Sender.Street]
[Sender.City], [Sender.State] [Sender.Zip]
[Sender.Phone]
[Sender.Email]

PandaTip: This template allows you to provide a detailed proposal of several commercial insurance products to your business clients. Start by filling out the tokens on the right, then take a few moments to remove any irrelevant services or add new ones based on your client’s needs.

Executive Summary
     Provider Background
Schedules
     Locations Schedule
     Vehicles Schedule
Property Coverage
     Limits
     Deductibles
     Highlights
     Limitations
     Subjectivities
Commercial General Liability Insurance
     Limits
     Deductibles
     Exposure Basis
     Limitations
     Subjectivities
Business Automobile Insurance
     Limits
     Deductibles
     Highlights
     Limitations
     Subjectivities
Workers’ Compensation Insurance
     Limits
     Exposures
     Officer-Owners Excluded
     Highlights
     Limitations
     Subjectivities
Commercial Umbrella Liability Insurance
     Limits
     Self-Insured Retention
     Underlying Insurance Information
     Highlights
     Limitations
     Subjectivities
Premium Summary
     Premium by Coverage
     Insurance Program Premium
     8. Agency Disclaimers

PandaTip: This Table of contents can be modified to show various subheadings, and will allow your client to quickly navigate to specific sections of your insurance proposal.

This commercial insurance services proposal is being provided as a source of information for your convenience. While it does summarize the policies that [Sender.Company] feels are appropriate given your current needs, this document is not intended to serve as a comprehensive record of your policies’ coverage, terms, or limitations.This document is not an insurance policy, and does not amend or otherwise impact coverage offered by the listed proposed policies. All policies listed in this proposal are subject to the full terms, exclusions, and limitations listed on the policies themselves.
[COMPANY PHONE]

Executive Summary

[Client.Company] is currently in need of qualifying insurance policies including the following:
General Commercial Liability

Our goal in offering the proposed insurance solutions is to achieve the following for [Client.Company]:

PandaTip: Opening your proposal with an executive summary allows you to demonstrate your knowledge of your client’s needs, wants, and goals, and gives you a chance to provide a bit of background information about your agency.

Provider Background

[Sender.Company] is a fully-licensed provider of insurance services to commercial entities. Our extensive history in commercial insurance policy has allowed us to assist dozens of small, medium, and large companies reduce their exposure to liability through well-crafted, affordable insurance policies. To date, we have successfully provided insurance policy packages to companies including:

In this proposal, we will outline the specific insurance policies which we feel best serve [Client.Company]’s coverage requirements.

“[Sender.Company] has been our insurance provider for a number of years. They’ve helped us reduce our annual premiums in the face of economic pressure.”

Schedules

Named Insured Schedule

Any entity, partnership, joint venture or Limited Liability Company not named as an insured is not covered under these proposed coverages.

Locations Schedule

PandaTip: You’ll find tables like this throughout this insurance services proposal template. They allow you to communicate detailed information in an easy-to-digest format, and are simple to customize to your needs.

Location

Address

[Location1.Name]

[Location1.Address]

[Location2.Name]

[Location2.Address]

Vehicles Schedule

Vehicle Make & Model

Vehicle VIN

[Vehicle1.MakeModel]

[Vehicle1.VIN]

[Vehicle2.MakeModel]

[Vehicle2.VIN

Property Coverage

Insurance Company: [PropertyCarrier.Name]

A.M. Best Rating: [Property.CarrierRating]

Admitted/Non-Admitted: [Property.Admitted] [Property.NoneAdmitted]

Proposed Policy Term: [Property.EffectiveDate to [Property.ExpirationDate]

Limits

 

Category

 

Limit

Buildings

 

[Building.Limit]

Business Personal Property

 

[Property.Limit]

Business Income

 

[Income.Limit]

EDP Equipment

 

[EDP.Limit]

Building Ordinance

 

[Ordinance.Limit]

Equipment Breakdown

 

[Equipment.Limit]

Earthquake Sprinkler Leakage

 

[SprinklerLeakage.Limit]

Mobile Equipment

 

[Mobile Equipment.Limit]

Deductibles

Item

Deductible

Per occurrence for direct damage, except items below[DirectDamage.Deductible]
Earthquake sprinkler leak[EarthquakeSprinkler.Deductible]
Mobile equipment[MobileEquipment.Deductible]

Highlights

Limitations

Coverage Limitations
Exclusions included, but not limited to

[INSERT ADDITIONAL EXCLUSIONS]

Subjectivities

[Property.Subjectivities]

Commercial General Liability Insurance

Insurance Company: [GeneralLiability.Carrier]

A.M. Best Rating: [GeneralLiability.CarrierRating]

Admitted/Non-Admitted: [GeneralLiability.Admitted] [GeneralLiability.NonAdmitted]

Proposed Policy Term: [GeneralLiability.EffectiveDate] to [GeneralLiability.ExpirationDate]

Limits

Category

Limit

Bodily injury and property damage, per occurence[BodilyInjury.Limit]
General aggregate[GeneralAggregate.Limit]
Products and completed operations aggregate[ProductsAggregate.Limit]
Personal and advertising injury[PersonalInjury.Limit]
Fire damage liability[FireDamage.Limit]
Medical Expense[Medical.Limit]

Deductibles

Category

Deductible

Per Claim
Annual Aggregate

Deductibles

Category

Deductible

Per Claim
Annual Aggregate

Retroactive Date: [GeneralLiability.RetroDate]

Exposure Basis

Exposure Basis

Limitations

Coverage Limitations
Exclusions included, but not limited to

[GENERAL LIABILITY CONDITIONS]

Subjectivities

[GenLiability.Subjectivities]

Business Automobile Insurance

Insurance Company: [BusinessAuto.Carrier]

A.M. Best Rating: [BusinessAuto.CarrierRating]

Admitted/Non-Admitted: [BusinessAuto.Admitted] [BusinessAuto.NonAdmitted]

Proposed Policy Term: [BusinessAuto.EffectiveDate] to [BusinessAuto.ExpirationDate]

Limits

Category

Limit

Bodily injury/ property damage (combined single limit)[BodilyInjury.AutoLimit]
Medical payments[MedicalPayment.AutoLimit]
Uninsured motorists[Uninsured.AutoLimit]
Underinsured motorists[Underinsured.AutoLimit]
Hired auto physical damage[Hired.AutoLimit]

Deductibles

Category

Deductible

Comprehensive[AutoComprehensive.Deductible]
Collision[AutoCollision.Deductible]

Highlights

Coverage Highlights

Limitations

Coverage Limitations
Exclusions included, but not limited to (cont.)

Subjectivities

[Auto.Subjectivities]

Workers’ Compensation Insurance

Insurance Company: [WorkersComp.Carrier]
A.M. Best Rating: [WorkersComp.CarrierRating]
Admitted/Non-Admitted: [WorkersComp.Admitted] [WorkersComp.NonAdmitted]
Proposed Policy Term: [WorkersComp.EffectiveDate] to [WorkersComp.ExpirationDate]

Limits

States Covered:

Category

Limit

Bodily injury by accident, per person[Workers
Bodily injury by disease, policy limit
Bodily injury by disease, per person

Exposures

[WorkersComp.Exposures]

Officer-Owners Excluded

Highlights

Limitations

Coverage Limitations
Exclusions included, but not limited to (cont.)

harassment, humiliation, discrimination against or termination of any employee, termination of
employment, or any personnel practices, policies, acts, or omissions
Experience Modification: [Experience.Percentage]%

Subjectivities

[WorkersComp.Subjectivities]

Commercial Umbrella Liability Insurance

Insurance Company: [Umbrella.Carrier]
A.M. Best Rating: [Umbrella.CarrierRating]
Admitted/Non-Admitted: [Umbrella.Admitted] [Umbrella.NonAdmitted]
Proposed Policy Term: [Umbrella.EffectiveDate] to [Umbrella.ExpirationDate]

Limits

Category

Limit

Per occurence[UmbrellaLimit.PerOccurence]
Annual aggregate[UmbrellaLimit.Aggregate]

Self-Insured Retention

$[Retention.AmountPer] Per Occurrence

Underlying Insurance Information

[Umbrella.PolicyTerm]

Highlights

Limitations

Coverage Limitations
Exclusions included, but not limited to

Subjectivities

[Umbrella.Subjectivities]

Premium Summary

Premium by Coverage

Coverage

Premium

Commercial Property[CommercialProperty.Premium]
General Liability[GeneralLiability.Premium]
Business Auto[BusinessAuto.Premium]
Workers’ Compensation[WorkersComp.Premium]
Umbrella Liability[Umbrella.Premium]

Insurance Program Premium

Coverage

Premium

[Program1][Program1Premium]

8. Agency Disclaimers

Disclaimers
We are willing to discuss any of the items relating to the processing of your business at any time. We encourage full disclosure of our practices to assure you that we always act in your best interest.

A. Broker Disclosure
[COMPANY.Company] may receive compensation from an insurer or other intermediary as a result of the sale of insurance to you. The compensation received by [Sender.Company] may differ depending on the product, insurer, and/or other intermediary. [Sender.Company] may receive additional compensation from the insurer and/or other intermediary based
upon other factors, such as premium volume placed with a particular insurer or through a particular intermediary and loss or claims experience.

B. Communication
Any requests that you make to confirm, bind, or alter your insurance program through e-mail, voice mail, or other automated systems will not take effect until you receive confirming communication from your [Sender.Company] representative.

C. Claim Reporting Requirements
Changing market conditions have had an adverse effect on many carriers’ claim reporting terms and conditions. Many policy forms now include verbiage that severely restricts or negates coverage should a carrier not be immediately notified of a claim or potential claim. Refer to your policies for a more complete explanation of your carrier’s reporting requirements.

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