Underwriting Guidelines (Connecticut):

• All job classes and phraseologies must be eligible (Click here for Class Codes)
  • Ace and AIG are subject to minimum premium (see below)
• A detailed description of business operations must be provided (web site address and/or a business brochure would be helpful)
• Backdating is not allowed - Effective date will be the date that the application (plus any additional requested information) is received at PIA or a later date.
• Loss Runs
  • Ace - 3 to 5 years of loss runs are required for all risks
  • AIG and our Alternate A+ Carrier - loss runs are required for any risk with an Experience Mod over 1.00
• Acceptable Experience Mod
  • AIG - Up to 1.80 (subject to underwriting)
  • Ace - 1.80 (subject to underwriting)
  • Alternate A+ Carrier - Up to 1.15
• Our Alternate A+ Carrier reviews Dunn and Bradstreet reports and will decline the risk if they deem the Insurance Score as unacceptable
• Program Minimum
  • Alternate A+ Carrier - No minimum
  • AIG - Minimum premiums (annual, unmodified, undiscounted)
    • Contractors - $6,500
    • Truckers - $10,000
    • Farms - $15,000
    • All Others - $3,500
  • Ace - Minimum premiums (annual, unmodified, undiscounted)
    • Contractors and Truckers - $10,000
    • Farms - $15,000
    • All Others - $3,500
• Rating Factors (These factors are used to determine the premium. Each carrier has it's own Rating Factor [Loss Cost Multiplier]. The State Rate is multiplied by the Rating Factor, which gives you the base premium.)
  • AIG - 1.352
  • Ace - 1.417
  • Alternate A+ Carrier - 1.282
• Expense Constant (Each carrier has it's own amount for the Expense Constant)
  • AIG - $180
  • Ace - $180
  • Alternate A+ Carrier - $200
• Number of Employees
  • Ace, AIG and our Alternate A+ Carrier - No requirement
• New Business Ventures
  • AIG and our Alternate A+ Carrier - 2 years of field experience required
  • Ace will not write new business ventures. All risks require a minimum of 3 years loss runs.
• Delivery
  • Alternate A+ Carrier - No delivery
  • Ace and AIG - Pizzerias are allowed limited amounts of delivery
• Driving Exposure
  • Alternate A+ Carrier - Requires driver information (Full Name, Driver License Number and Date of Birth)
  • Ace and AIG - No extra information is required, but always helpful if provided
• Proof of Health Insurance Required
  • Alternate A+ Carrier - If the owner(s) is to be included, they must have Health Care coverage in place
    

• No 24-hour operations
  
• No placement services, temporary agencies or leased employees
  
• No non-profits
  
• No daycare/pre-school
  
• No Manufacturer's Reps
  
• No subcontractors
  
• No laboratories
  
• No seasonal operations
  
• No working out of the house/home
  
• No franchises
  

• No Financial Advisors or Stockbrokers
  Alternate A+ Carrier
• No Credit Unions
  Alternate A+ Carrier
• No Boat Rentals
  Alternate A+ Carrier
• No Recycling Centers
  Alternate A+ Carrier
• No Convenience Stores
  Alternate A+ Carrier
• No Airport Exposure
  Alternate A+ Carrier
• Classes 9082 and 9083 - Restaurants
  • Alcohol Sales cannot exceed 25% - Ace and our Alternate A+ Carrier
  • No pubs, sports bars, bars or taverns - AIG
  • No fast food - Alternate A+ Carrier
  • "White tablecloth" restaurants only - Alternate A+ Carrier

Billing and Payment Plans - Insured will be billed by company directly, including down payment.

Alternate A+ Carrier:

Financing of policies is not allowed for this carrier.

• Premiums under $2,500:
  30% down
  25% due the 2nd month
  25% due the 5th month
  20% due the 8th month
• Premiums over $2,500:
  25% down with 9 equal installments
  
  **A $6.00 per installment fee will be charged.
  

AIG:

• Premiums $3,500 to $5,000 - Option A
• Premiums $5,000 to $10,000 - Option B
• Premiums $10,000 and over - Option C
• A late charge of $10.00 is applied to payments received after the due date.

Option A: Full Pay or 65% down with 1 installment
Option B: 50% down with 2 or 3 monthly installments or 30% down with 6 monthly installments
Option C: 20% down with 9 monthly installments

**A $5.00 per installment fee will be charged.

Ace:

• Payment in full
• Quarterly Installments
  30% down with 3 installments (billed every 3 months)
• Ten Pay Method
  20% down with 9 monthly installments
  
  **A $5.00 per installment fee will be charged.