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› Question 1: What information do you need to obtain a Property and Casualty quote?

› Question 2: What information do you need to obtain a Directors and Officers Liability quote?

› Question 3: What’s the difference between an insured, an additional insured and an additional named insured?

› Question 4. What is the main difference between my Property and Liability insurance sections of my policy?

› Question 5: What type of information might I need to insure a new building or property onto my policy?

› Question 6: Why do insurance companies need to ask for my financial statements and what are they looking for?

› Question 7: When an employee is driving his own vehicle on company business, which policy responds if there is accident?

› Question 8: Is a youthful driver allowed to drive a company vehicle?

› Question 9: Should we notify TISC when we purchase a new vehicle?

› Question 10: When we hire a subcontractor to do work for us, what limits of insurance should we require the subcontractor to carry?

› Question 11: Does TISC provide surety bonds? If so, what information will I need to provide to obtain a bond?

› Question 12: Should we notify TISC if we acquire or purchase a new property?

› Question 13: What are the OSHA Standards that I must know?

› Question 14: Does Telcom have a sample safety manual?

› Question 15: Do you have any safety topics/tips/videos that I can use for training?

› Question 16: If I’m having difficulties with a claim or I just need to ask someone a question, who can I contact?

Question 1: What information do you need to obtain a Property and Casualty quote?

A. To expedite the quoting process, we will need the following information before we can offer you a quote:

• Complete a Quote Workbook that your Account Executive or Underwriting Technician will provide to you or send us the equivalent data in any other format.
• Please provide your latest audited financial statement (it will be used only to underwrite your account and the information will be treated as confidential).
• Please provide any loss or experience runs that you may have from your current insurer for all lines of business for the past 5 years.
• Need a Quote Workbook, contact us at TISC@TISCinsagency.com.

**Please allow at least 90 days prior to your expiration date to provide us with this information for adequate underwriting time.

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Question 2: What information do you need to obtain a Directors and Officers Liability quote?

A. We can offer you a quick premium indication by completing a short "Premium Indication" form along with a copy of your current audited financials. The Premium Indication form can be obtained from your Account Executive or Underwriting Technician or by emailing us at TISC@TISCinsagency.com. If you decide to bind coverage based on the premium indications, we will need a fully completed and signed Directors and Officers Liability application, along with any other requested underwriting information prior to binding.

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Question 3: What’s the difference between an insured, an additional insured and an additional named insured?

A. An insured is the person or company who is protected under an insurance contract. The terms of the agreement for insurance are detailed on the declarations page of the policy and will name the person or company that will be covered. An additional insured is a person or organization not automatically covered, but who could be added by an endorsement to the policy for specific reasons such as a contract. Some policies provide a broad blanket additional insured endorsement, however, you should check with TISC before signing any contracts with insurance requirements. An additional named insured is a person or organization identified as an insured in the policy declarations or as an addendum to the policy. This can include subsidiaries or other entities closely held by the insured and for which insurance coverage is desired.

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Question 4. What is the main difference between my Property and Liability insurance sections of my policy?

A. The property section is an agreement between you and the insurance carrier for coverage of property that you own or for the loss of its income-producing ability when the loss is caused by a covered peril. Some examples of covered perils include fire, lightning, and vandalism, etc. All policies do not cover all perils, therefore, it is a good idea to review what type of coverage you purchase. Liability insurance is the coverage part of your policy that protects you for obligations you may have to pay others arising from a legal obligation to do so. These types of situations may arise from one’s negligence or a statutory requirement such as worker compensation insurance.

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Question 5: What type of information might I need to insure a new building or property onto my policy?

A. Insurance companies often use something called COPE to assign a rating to property. COPE stands for construction, occupancy, protection and exposure. The type of answers to these aspects of your property can affect the premium to insure the property. For example, if a property is constructed out of frame and wood it will be much more susceptible to a total loss by fire than one constructed out of concrete. The occupancy refers to the activity conducted at the property and some may be much riskier than others. Protection refers to fire protection factors such as sprinklers or distance to a fire hydrant. Finally, exposure is related to the actual physical location of the building that could put it at a greater risk of a loss. Therefore, it is a good idea to think about insurance coverage before purchasing or building a new property.

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Question 6: Why do insurance companies need to ask for my financial statements and what are they looking for?

A. Financial statements provide important information about how your company is doing both now and as related to the past. Financials usually include the balance sheet, the income statement and the statement of cash flow. All three of these components provide very different statistics and analysis of the business operations and when combined together with auditor notes and review, can provide the underwriter with some sound information about the business insurability, commitment to loss control programs and the ability to pay premiums.

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Question 7: When an employee is driving his own vehicle on company business, which policy responds if there is accident?

A. Many employees will sometimes take their own vehicle to a job site or use their own vehicles to run an errand for work. Many people think that by having a symbol “1” for liability coverage, their employees are covered no matter what vehicle they use on company business, but that’s not true. Symbol 1 will cover you as the employer against the non-ownership exposure, but it does not protect the employee while using his or her auto on company business. In the event of a claim, the employee’s personal auto policy will be the only coverage he/she has.

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Question 8: Is a youthful driver allowed to drive a company vehicle?

A. Generally, a youthful driver (under the age of 22) must have at least 2 years of licensed driving experience operating the types of vehicles scheduled with like cargo and must also meet the carrier’s standard acceptable driver status. A youthful driver questionnaire must also be submitted to the carrier.

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Question 9: Should we notify TISC when we purchase a new vehicle?

A. Yes, you should notify TISC as soon as possible of any vehicle change activity such as adding and deleting vehicles or additions of special equipment to existing vehicles so TISC will be able to maintain an accurate vehicle schedule. There are also several states that require that their department of motor vehicles be notified directly (electronically) from the insurance carrier for proof of insurance coverage. If a notification is not received this may result in a suspension of the vehicle’s registration.

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Question 10: When we hire a subcontractor to do work for us, what limits of insurance should we require the subcontractor to carry?

A. Although it is not a “requirement”, TISC recommends that all subcontractors that you hire carry the same standard limits of liability coverage that is offered through your TISC policy. These standard limits are as follows:

General Liability
- Each Occurrence: $1,000,000
- General Aggregate: $2,000,000
- Prods/Comp. Ops. Aggregate: $1,000,000

Automobile Liability
- Each Accident: $1,000,000

Employers Benefit Liability
- Each Claim/Aggregate: $1,000,000

Workers Compensation/Employers Liability
- Bodily Injury by Each Accident: $500,000
- Bodily Injury by Disease/Policy Limit: $500,000
- Bodily Injury by Disease/Each Employee: $500,000

TISC also strongly recommends that you hire only those subcontractors who can show proof of workers compensation coverage. To confirm this coverage your company should require that all subcontractors submit to you a certificate of insurance with active coverage before starting any work.

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Question 11: Does TISC provide surety bonds? If so, what information will I need to provide to obtain a bond?

A. A bond is actually a financial instrument as opposed to an insurance policy, but TISC has markets to provide this service to our policyholders. You will need to complete an application and also supply a copy of your company’s most recent audited financial 8statements. We would also like to see a copy of your entire contract to indentify the bond requirements. Most bonds take 10-14 working days to get approved and processed. Please keep this in mind when sending us your request for a bond. If you would like more information regarding surety bonds, please contact the underwriting department.

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Question 12: Should we notify TISC if we acquire or purchase a new property?

A. Just as with your auto coverage, you should notify TISC as soon as possible after a new purchase or acquisition, such as a building, contractor’s equipment, or electronic data processing equipment. The best way to assure that your property and equipment schedules are up to date in the event of a loss is to notify TISC as soon a possible of any property changes.

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Question 13: What are the OSHA Standards that I must know?

A. The Occupational Safety and Health Act applies to all private-sector employers/employees in the 50 states and all territories and jurisdictions under federal authority. Those with 10 or more employees or in high hazard have some specific requirements such as the OSHA 300 log. Depending on your industry, there are many other specific requirements. If you want more information on your industry’s specific requirements, please contact Marilyn Blake at MAB@telcominsgrp.com.

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Question 14: Does Telcom have a sample safety manual?

A. Although many companies have informal safety policies, it is an OSHA standard that those policies are in writing and that your employees know them and have been trained on these regulations as relates to their specific jobs. We have worked with several companies to help design the process, as well as, a few sample safety manuals, which can serve as templates in your development of a safety manual for your company.

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Question 15: Do you have any safety topics/tips/videos that I can use for training?

A. At TISC, the safety and well-being of your company and your employees is our primary goal. Over our long history, we’ve gathered and created a vast array of safety training material and tips that are yours for the using. They are free to use for our clients. There is a list of current materials located HERE. Please contact Tina Wynter at TMW@telcominsgrp.com if you would like more information.

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Question 16: If I’m having difficulties with a claim or I just need to ask someone a question, who can I contact?

A. At Telcom our Claims staff stands ready to provide information and help with all claims matters. Please contact:

Cheri Condee, Claims Specialists, AU
800-222-4664x1082
CLC@TelcomInsGrp.com

Marilyn Blake, COO, AU, CRM
800-222-4664x1085
MAB@TelcomInsGrp.com

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