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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

  • Commercial Auto Liability
  • Pollution Liability
  • Commercial Property
  • Workers’ Compensation

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

  • Reduce annual insurance premiums
  • Expand coverage
  • Insure that [Client.Company] is adequately protected from liability related to property, fleet, or worker related incidents

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:

  • [Sender.Client1]
  • [Sender.Client2]
  • [Sender.Client3]

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

  • [AdditionalInsured.1]
  • [AdditionalInsured.2]
  • [AdditionalInsured.3]

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

  • Special Causes of Loss
  • Replacement Cost, except
  • Actual Cash Value for Mobile Equipment
  • Business Income based on Actual Loss Sustained basis

Limitations

Coverage Limitations
Exclusions included, but not limited to

  • Earthquake
  • Flood
  • Terrorism (if coverage rejected)
  • Computer Virus and Computer Vandalism
  • Pollution
  • Mold, Fungi, Mildew, Microbe
  • Governmental Action
  • Employee Dishonesty
  • Delay and/or Loss of Market
  • Nuclear
  • Biological and chemical contaminations

[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

  • [GenLiability.ExposureBasis]
    Coverage Highlights:
  • Additional Insured – Vendors
  • Additional Insured – Lessors of Equipment & Premises
  • Additional Insured – Mortgagee, Assignee or Receiver

Limitations

Coverage Limitations
Exclusions included, but not limited to

  • Intentional Acts
  • Workers Compensation
  • Employers Liability
  • Pollution (with Hostile Fire exception)
  • Nuclear Energy
  • Employment Practice Liability
  • Intellectual Property Rights, including Trade/Patent Infringement
  • Professional Liability
  • Owned Aircraft Liability
  • Watercraft (except for non-owned under 55 feet in length)
  • Damage to property
  • Damage to your work
  • Damage to your product
  • Asbestos
  • Lead
  • Terrorism (if coverage rejected)
  • Professional Liability
  • Aircraft products
  • Discrimination

[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

  • Employees as Insureds
  • Additional Insured – Lessor

Limitations

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

  • Expected or Intended Injury
  • Liability Assumed Under Contract
  • Pollution
  • Employers Liability
  • Workers Compensation
  • Racing
  • War
  • Movement of Property by Mechanical Device
  • Bodily Injury or Property Damage Arising Out of Use of Mobile Equipment
  • Economic and Trade Sanctions Condition
  • Nuclear Energy Liability

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:

  • [WorkersComp.State]

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

  • [Officer.1]
  • [Officer.2]
  • [Officer.3]

Highlights

  • Terrorism Risk Insurance Act Coverage

Limitations

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

  • Loss arising out of operations for which Insured has rejected any workers compensation law
  • Liability assumed under a contract
  • Bodily injury intentionally caused or aggravated by the Insured
  • Fines or penalties imposed for violation of federal or state law
  • Damages arising out of coercion, criticism, demotion, evaluation, reassignment, discipline, defamation,

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

  • Defense costs are in addition to limit
  • Non-auditable

Limitations

Coverage Limitations
Exclusions included, but not limited to

  • Absolute Pollution
  • Temporary Worker and Leased Worker Injury
  • War liability
  • Nuclear Energy
  • Property in Your Care, Custody or Control
  • Lead
  • Fungi or Bacteria
  • Terrorism (if coverage rejected)
  • Violation of Information Distribution Laws
  • Expected or intended injury
  • Contractual Liability
  • Asbestos
  • Lead
  • Professional Liability
  • Aircraft products
  • Discrimination

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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