Roadmap to Renewal – Exit 2 

Our 2nd stop on the Roadmap to Renewal is the "Underwriting Phase."

By Rob Foote, Roofing Risk Advisors, LLC.

Now that we’ve covered Exit 1 with the topics that need to be reviewed three to four months before renewal, it’s time to look at what comes with Exit 2 – the Underwriting Phase.

Exit 1 - Pre-Renewal  (100 - 120 Days Prior To Renewal Date)

• Discuss Open Claims and Closure Strategy
• Openly Communicate Budget Expectations for Future Bidding Purposes
• Review Risk Management Strategies to Help Mitigate Potential Claims
• Discuss Current Market Conditions for Roofing Professionals
• Communicate Current Exposures to Roofing Industry
• Discuss: Projections, Updates, and Limits
• Discuss Optional Essential Coverages (i.e. Cyber, Pollution, E&O, EPLI, Crime, etc.)
• Provide an analysis of Workers' Comp Experience Mod (NCCI Worksheets)
• Review Scope of Work and Match Insurance Program with Partner Carrier
• Obtain Updated Certificate Holder List

Exit 2 - Underwriting Phase  (75 - 100 Days Prior To Renewal Date)

• Large Claim Description and Action Plan to Prevent Re-Occurring
• Obtain Updated Projections and Underwriting Data to Submit to Partner Carriers
• Discuss Budget Objectives to Match Roofing Clients' Expectations

Are you following the road map to a successful renewal? Download our Roadmap to Success: Exit 2

Contact the Roofing Risk Advisors to help you reduce costs, fuel margins, and increase profitability.

Rob Foote is a deeply experienced Insurance and Risk Management Advisor to the roofing industry, 15-year member of National Roofing Contractors Association (NRCA), and a director of the Florida Roofing & Sheet Metal Contractors Association (FRSA). For more information, contact the author at 407-493-2121 or go to www.roofingriskadvisors.com.