Schinnerer's goal regarding renewals is for you and your clients to receive a timely renewal quotation - with an opportunity to review, accept and bind coverage in advance of policy expiration. However, quite often we receive applications very close to, or even after, the expiration of renewal policies. The result is that too many renewals remain unresolved at expiration. Your assistance is needed. We cannot quote renewals without a timely and complete application. Please review the following procedures:
- Obtaining a renewal quotation and binding coverage. It is your responsibility to obtain a renewal quotation for your client and to bind renewal coverage. We assist in that process by sending expiration letters. In this letter we provide:
- Your client's policy expiration information, and
- A reminder that you are required to complete a renewal application to request coverage for the renewal policy term.
Typically, these letters are distributed 90-120 days in advance of your client's policy expiration, but it is your responsibility to obtain a renewal quotation and to bind renewal coverage for your client. Please do not delay your renewal preparations in anticipation of our letter.
- Submitting renewal applications. Please submit your clients' renewal applications no later than 60 days prior to expiration. This allows enough time for us to effectively underwrite and price your client's renewal policy. And it will give you time to review the renewal quotation, including the terms and conditions, with your client. Following the review with your client, you must notify us in writing of your intentions with regard to binding the renewal prior to expiration.