Monday, July 28, 2014

How to Complete the ACORD 193 Open Cargo Section

ACORD 193 Open Cargo Section


The Open Cargo Section is used in combination with the ACORD 125. This form is used to provide basic information on marine coverage - coverage for items being shipped by watercraft.

Basic Account Information

The form begins with the following basic account information section.



This information should already be in the ACORD 125 form, and systems like our Cap Dat ACORD service will automatically pull this information into this form. The information needs to be entered even if attached to the ACORD 125 in case the documents become separated.

AGENCY CUSTOMER ID: This is the ID number your agency management system may have assigned. Many older systems still use this technology instead of names.

DATE (MM/DD/YYYY): Enter the date you are completing this form.

AGENCY: Your agency name. If your name is also used by other agencies with whom your underwriter may also work, it is a good idea to at least also add your city and state.

CARRIER: The name of the insurance carrier to whom you are sending this application.

NAIC CODE: NAIC stands for the National Association of Insurance Commissioners.

They assign each insurance company a five digit code. You can search for any insurance company by name on their website at this page...

http://www.naic.org/index.htm

POLICY NUMBER: If this is a new application, there will most likely be no policy number assigned yet. So leave this space blank. If this is a renewal, enter the existing policy number.

EFFECTIVE DATE: The date you want the coverage to begin.

APPLICANT / FIRST NAMED INSURED: Enter your customer's legal name in the format they would need it to appear for a certificate of insurance.


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