Anchor General Insurance

Carrier appetite summary

Program: Anchor General Insurance Agency “Platinum” Personal Auto – effective 11/01/2023. Coverage underwritten by Anchor General Insurance Company. Preferred / target business - Private passenger autos only, rated on non‑standard program; emphasis on California personal auto. - Policies with clearly disclosed household members and drivers; all regular operators listed and approved by company. - Good Driver risks as defined by state “Good Driver” regulation; Good Driver discount applies to the rated driver and excess vehicles when all drivers qualify. - Multi‑car accounts (multi‑car discount applies when 2+ vehicles on same policy). - Stable, continuously insured accounts (renewal discount applies after 12+ months continuous Anchor coverage without lapse). - Mature drivers 55+ who complete state‑approved driver improvement course (Mature Driver Discount, valid 36 months, removed if chargeable accident or certain moving violations/DUIs occur). - Drivers with valid U.S. licenses and clean recent MVRs may qualify for additional Citation Free discount if also Good Driver and loss/violation‑free in prior 12 months. Key restricted / declined risks (operational) - Physical Damage (comprehensive/collision) may NOT be bound or written when the National Weather Service has issued a watch or warning for catastrophic weather (hail, tornado, windstorm, tropical storm, hurricane). Any vehicle written within 48 hours after lifting of the watch/warning must be visually inspected by producer and all existing damage notated on application. - Policies written for Estates, Receiverships, Corporations or Partnerships as applicant are listed under UNACCEPTABLE POLICIES in the manual; standard personal auto is intended for individuals/households only. - Policies financed through premium finance companies are not eligible under this program. - Physical damage loss is not covered when a person not disclosed to and approved by the company, and not listed on declarations, is operating the vehicle (unless the optional Physical Damage Named Driver Restriction Buyback is purchased for specified non‑household operators). - Company may cancel, rescind, or re‑rate from inception for material misrepresentation on the application, endorsements, renewals, or any risk information (e.g., undisclosed drivers, garaging, accidents/violations). - Backdating of coverage is prohibited; endorsements and new business are effective no earlier than date/time of upload or notice to company, subject to state rules. Geographic / territory notes - Manual references rating territories and territory change handling; territory changes are pro‑rated from the effective date of the change. - Physical damage binding restrictions tied to National Weather Service catastrophe watches/warnings apply by geography; ensure staff monitor local NWS alerts and suspend PD binding where applicable. Submission & documentation requirements (producers) - New business is uploaded electronically; coverage is effective no earlier than the date and time of successful upload (policy number returned on confirmation). - Within 24 hours of upload, producer must fax required documents indicated on the program Fax Cover Sheet (which specifies what must be submitted for that policy). - Documentation that must be maintained in the producer’s file and made available to Company underwriting/claims on request includes: - All faxed documents and correspondence. - Complete signed insurance application. - Any exclusion forms and supporting documentation (e.g., driver exclusions). - Automobile inspection report and required photos of vehicles (when required by program). - Physician’s statement if applicable (e.g., certain medical/impairment situations referenced by program). - Evidence supporting not‑at‑fault accident status where used for rating (insurer letter or police report). - Detailed description of any Business Use if applicable. - UM/UIM selection or rejection forms and any optional coverage forms. - Routine audits: Company conducts periodic routine reviews on randomly selected policies; producers must provide requested documentation by fax or to on‑site representative within 72 hours when selected. - Missing rating support: If documentation substantiating a rate is not attached, policy may be issued at higher rating not requiring that documentation. Ongoing servicing, endorsements & billing – producer responsibilities - Producers must: - Report vehicle additions to the company within 72 hours; new vehicles are effective no earlier than time of notice to producer and must be reported promptly. - Notify company within 10 days of insured acquiring a replacement vehicle to maintain physical damage coverage from acquisition date; late reporting results in coverage effective only from date/time of notice. - Obtain applicant’s signature when deleting vehicles or coverages, and when reducing or rejecting UM/UMPD; UM changes require signed selection/rejection forms and may auto‑adjust with BI limits unless new UM form is provided. - Ensure all mid‑term driver, marital status, and household changes are promptly reported; unlisted drivers discovered by company may result in denial of coverage and/or retro‑adding the driver back to inception. - Not request or implement back‑dated coverage; back‑dated deletions require underwriting review and proof of other insurance as of requested date. - Broker of Record changes are not allowed by the company; producer of record remains fixed absent company procedures. - Endorsements are effective at date/time of notice by phone, fax, email, or day after postmark; producers must report all changes within 72 hours. Cancellations, reinstatements, payments - Non‑pay cancellations: Policy will cancel if required premium is not received by cancellation effective date; non‑pay cancellations will not reinstate unless all amounts past due are received and postmarked by required date. - Payment handling: - Producers have authority to accept checks on company’s behalf but cannot extend coverage beyond cancellation date unless company is notified by upload or fax with proof of payment before cancellation date/time. - All payments collected must be forwarded and postmarked or uploaded promptly, generally within 24 hours in reinstatement scenarios. - Reinstatements: - Company may automatically reissue policies cancelled for non‑payment when full amount due (plus fees) is received within 30 days of cancellation date. - Reissued policies have a new effective and expiration date; there is no coverage for the lapse period between cancellation and reissue effective date; a reinstatement fee applies. - Payments received more than 30 days after cancellation generally trigger return of premium rather than reinstatement. Broker / producer conduct notes - Producer must: - Adhere strictly to underwriting and binding authority; may not investigate, adjust, settle, or litigate claims or admit liability on company’s behalf. - Not allow anyone other than applicant or spouse to sign or effect coverage on the policy. - Maintain required documentation for the retention period specified in producer agreement; files are subject to routine review. - Immediately contact underwriting department when erroneous information is uploaded. - Provide insured with company claims contact information at point of sale and instruct insureds to report all claims directly to company 24/7 via listed claims numbers. Operational takeaway: Anchor General’s Platinum personal auto program is a highly controlled non‑standard private passenger product with strict rules around who can be insured (individuals only), how and when coverage can be bound (no backdating, weather‑related PD binding moratoriums), complete and truthful disclosure of drivers and usage, quick post‑bind documentation, and tight producer oversight on payments, reinstatements, and documentation audits.

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