Renewal Cycle

Normally we like to begin the renewal process approximately 90 days from the inception date.  This allows ample time for data collection, submission preparation, coverage negations, open dialogue and informed decision making.  The following is an example of a renewal time line that highlights critical dates leading up to the inception of the program/policy:

Action Item Date
Renewal Strategy Meeting 90 Days Prior
Request for underwriting information 80-90 Days Prior
Underwriting information gathered 60-70 Days Prior
Submission sent to marketplace 60 Days Prior
Renewal negotiations 20-60 Days Prior
Initial quote deadline 20 Days Prior
Present proposal 14 Days Prior
Finalize outstanding issues 7 Days Prior
Bind coverage 1-7 Days Prior
Program administration (billings, certificates of insurance, no-fault cards, binder of insurance, etc…) 1-7 Days Prior
Coverage inception Inception Date
Review and remittance of policies 45-90 Days Post Inception