Elevate Underwriting Process

Elevate manages a guaranteed cost workers compensation program for roofing, framing, scaffolding creation, and asbestos abatment contractors written by Berkshire Hathaway Homestate Companies (A.M. Best A++ XIII). These industries present a difficult workers compensation risk, and therefore require thorough underwriting. To ensure that all parties' expectations are met, we have outlined our underwriting process. The underwriting process typically consists of 3 distinct parts:

  • A Complete Submission
  • A Risk Assessment Phone Call
  • A Jobsite Inspection

Insurance Submission

A complete submission includes the following items:

  • Five years of loss runs, valued within 90 days of the inception date.
  • Acord application, signed by the producer.
  • Supplemental application, signed by the insured.
  • Five years of historical payroll by class code
  • Experience modification worksheet for upcoming year (if available) and for expiring year. If the current ex mod is unavailable, we will require an estimated ex mod from the broker.
  • Recent financial statements. (if needed)

Risk Assessment Phone Call and Jobsite Inspections

After reviewing the submission, we may conduct a Risk Assessment Phone Call and / or a Jobsite Inspection with each insured prior to providing a pricing indication or quote. The call, conducted by a either an Elevate Insurance Services or BHHC loss control representative, takes approximately 30 to 45 minutes. Our loss control representative and an insured representative are the only participants on the call. Multiple people from the insured can participate in the call. The call will cover the details of the insured's operations, management practices and safety initiatives. The results of the call or jobsite visit are very important to our underwriting process and pricing.

Timing

To ensure a timely quote, we suggest that a complete submission is sent to us at least 45 days prior to inception.

For questions and further information about the program, please email:
info@elevate-ins.com

Please send all submissions to: submissions@elevate-ins.com

Elevate Insurance ServicesTM
Elevate Employers Insurance ServicesTM
2929 Walnut Street, Suite 1500
Philadelphia, PA 19104
Lic# 0E87149
Agency Lic# 0H45136