ACORD 131 Uninsured Motorists Issues By State, Remarks, Signatures

ACORD 131 Umbrella / Excess Instructions for Page 4 and 5

REMARKS

Page 4-

ACORD 131 Remarks Instructions

Page 5

ACORD 131 Remarks Instructions

The remarks section anticipates your needing to add a good deal of clarification to Yes answers in this application. Do not be shy.

If you need additional room for even more remarks use the ACORD 101 Additional Remarks Section.

SIGNATURE - FRAUD WARNINGS

ACORD 131 Fraud Warnings

You really do need to just read this out loud with your customer. I know it is dull, but still...

Did you know in New York the penalties are "SUBSTANTIAL"?

In Florida it is a Third Degree Felony.

In Kansas it is "Fraudulent Insurance Act" - whatever that is. Actually the link below shows exactly what that is...

http://kansasstatutes.lesterama.org/Chapter_40/Article_2/40-2x118.html


The point is you are responsible for knowing this for your state and you should advise you customer on what she or he is signing.


UNINSURED and UNDERINSURED MOTORIST

ACORD 131 Underinsured and Uninsured Motorists

The first two fields in the Uninsured / Underinsured Motorists section are asking limits. These are the limits for the Umbrella or Excess Policies, not the limit on the primary policies.

Louisiana and New Hampshire require your customer to initial a box stating they have accepted or rejected coverage.

Vermont adds a statement  but does not require initials. For Vermont signing the application is enough.

Wisconsin requires customers with only Non-Owned Auto Liability coverage to have indicated whether or not Medical Payments coverage is available.


SIGNATURE

ACORD 131 Signature Instructions

PRODUCER'S SIGNATURE - the licensed agent should sign here.

PRODUCER's NAME (Please Print) - Print the name of the person who signed in the PRODUCER'S SIGNATURE box

STATE PRODUCER LICENSE NO (Required in Florida) - Enter your state license number

NATIONAL PRODUCER NUMBER - Enter your national producer number.

The National Insurance Producer Registry states "The National Producer Number is a unique NAIC identifier assigned through the licensing application process or the NAIC reporting systems to individuals and business entities (including, but not limited to producers, adjusters, and navigators) engaged in insurance related activities regulated by a state insurance department."

Here is a link to their web site...

http://www.nipr.com/


APPLICANT'S SIGNATURE - Have your customer sign here.



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