Simply-Easier-ACORD-Forms: December 2014

Sunday, December 7, 2014

Instructions ACORD 163 Commercial Auto Driver Information Schedule

The ACORD 163 Commercial Auto Driver Information Schedule is used to list additional drivers with the following other ACORD forms when these forms no longer have room for the list of insured drivers:

ACORD 127 Business Auto
ACORD 128 Garage and Dealers
ACORD 132 Truckers / Motor Carriers

BASIC INFORMATION

Instructions ACORD 163 Commercial Auto Driver Schedule

Instructions ACORD 163

AGENCY CUSTOMER ID

As with all ACORD forms with more than one page enter your agency customer ID so this page will be able to find the rest of this application if somewhere, somehow in that thing we call the business cycle they get separated from each other.

DATE

This is the date you are completing this application. Enter the date as Day Day / Month Month / Year Year Year. This means you would enter Jan 1st 2015 as 01/01/2015.

AGENCY

Enter your agency's name here.

CARRIER

The insurance company underwriting this policy. This is the company listed on the DEC page of the policy.

NAIC NUMBER

NAIC stands for the National Association of Insurance Commissioners.

Here is their website home page...

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

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

https://eapps.naic.org/cis/

POLICY NUMBER

Enter the policy number if one exists. If no policy number has been assigned yet enter TBD for to be determined. If you have a binder number enter that here.

EFFECTIVE DATE

This is the date this policy begins coverage.

NAMED INSURED

Enter the same as the Name on the preceding documents in this application. This is also the name which appears on the issued policy's declarations page.

DRIVER INFORMATION

Instructions ACORD 163 Driver Information

DRIVER# You should just list these in a 1,2,3 sequential order.

NAME CITY, STATE, and ZIP CODE The driver's name and address. This should be an exact match to the information on their driver's license.

SEX M for male, F for female.

MAR STAT Marital status is usually shown as M for married, S for single, D for divorced, W for widow or widower, etc. The note at the bottom of this section states "MARTIAL STATUS / CIVIL UNION (if applicable)". I do not know the indicator for civil union. I suggest a C.

DATE OF BIRTH It will be appreciated if you enter this in the DD/MM/YYYY format. Again, match the driver's license.

YRS EXP - Years of driving experience for this driver.

Here is a secret. You and I both know that if you subtract Year Licensed from this year, you will get the answer to Driver's YRS EXP. But sometimes we apparently have to help others with this type of math. Just do so in a kind way so you do not hurt your underwriter's feelings.

YR LIC - This is the year the license was issued.

DRIVERS LICENSE NUMBER/ SOCIAL SECURITY NUMBER Enter the complete driver's license number. If this is not available enter this person's social security number.

STATE LIC Enter the two character ID for the state which has issued this driver's license.

DATE HIRED This is the date this driver was originally hired by this business. It is fine to say month and year.

BROADENED NO FAULT This is a yes or no answer. Use Y or N.

DOC This stands for Driver Other Car coverage. This is a yes or no question, Use a Y or an N.

USE VEH # Enter the vehicle number from this application of the vehicle that this driver operates most often.

% USE Enter the percentage of the time this driver is the operator of the USE VEH you entered in the previous question. Example, if this driver uses vehicle 1 all the time enter 100%.

Repeat these entries for each additional driver. If you need more room use additional ACORD 163 forms until you have completed listing your drivers.

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Instructions ACORD 129 Vehicle Schedule Part 2

DESCRIPTION CONTINUED AND PHYSICAL DAMAGE COVERAGE

Instructions ACORD 129 Vehicle Schedule

USE

Select one and only one.

PLEASURE - Private passenger vehicles or pickups/vans not used for business purposes
FARM - Private passenger vehicles or pickups/vans principally garaged and used on a farm or ranch
DRIVE TO WORK / SCHOOL - check either the < 15 miles (less than) or 15 miles + box
COMM'L - transportation of property in vehicles other than those defined as retail or service
RETAIL - Pick up or delivery of property to individual households
SERVICE - Transportation of personnel, tools, equipment or supplies to or from a job site
FOR HIRE - taxi's, etc
OTHER - you describe

CHECK COVERAGES

Check all that apply. The checked boxes should match the coverage selected in the state specific ACORD 137 form attached to this application.

LIAB - liability
NO-FAULT - liability no-fault
ADD'L NO-FAULT - additional liability no- fault
MED PAY - medical payments
UNINS MOTOR - uninsured motorists liability
UNDRINS MOTOR - under-insured motorists liability
TOWING & LABOR

SPEC C of L - Specified Cause of Loss - these are all physical damage coverages
F - Specified Cause of Loss by Fire
FT - Specified Causes of Loss by Fire and Theft
FTW - Specified Causes of Loss by Fire, Theft and Windstorm
LSP - Limited Specified Peril
COMP/OTC - Comprehensive / Other Than Collision physical damage coverages
COLL - Collision
RENT REIMB - rental reimbursement
FG - Full Glass Coverage
OTHER - you enter

DEDUCTIBLES

Check one in this first section you have...

ACV - actual cash value
AA - agreed amount
ST AMT - stated amount

These are types of physical damage valuation methods normally used on older vehicles.

If you check one of these, enter the dollar amount of the value on the line in the bottom of this box where you see the $ sign.

Check either Comp / OTC or SPEC C of L if either apply. You cannot have both, but you can have neither. If you have either, enter the dollar amount of the deductible on the next line after the $ sign.

If you have collision coverage enter the dollar amount of the deductible on the line to the left of COLL after the $ sign.

NET VEH DR/CR - This is the total of all the credits or debit factors to be applied in the rating of this vehicle. You will almost always leave this blank. This is for the raters to do.

TOTAL PREMIUM: $ - You will almost always leave this blank. This is a rating field.

I hope this has helped you learn how to complete the ACORD 127 vehicle description section.

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Instructions ACORD 129 Vehicle Schedule Part 1

Instructions ACORD 129 Vehicle Schedule

The ACORD 129 Vehicle Schedule is used to list additional vehicles with the following other ACORD forms when these forms no longer have room for the list of insured vehicles:

ACORD 127 Business Auto
ACORD 128 Garage and Dealers
ACORD 132 Truckers / Motor Carriers
ACORD 143 Transportation

BASIC INFORMATION

Instructions ACORD 129 Vehicle Schedule

VEH# - Vehicle number. Enter the numbers in sequence starting with 1.

YEAR - The model year of the vehicle. 2010, 2011, etc.

MAKE - The manufacturer's name. Chevrolet, Ford, etc.

MODEL - The model of the vehicle. F-3500 or Dodge Step Van are examples.

BODY TYPE - Examples - Dump truck, Van, Sedan

V.I.N. - Vehicle identification number. This is the serial number for the vehicle. It is on the registration card and on the vehicle dashboard in front of the steering wheel.

VEHICLE TYPE - Only one can apply. PP is private passenger. SPEC is Special - which I assume is anything not the other two options. COML is commercial.

SYM / AGE - Only private passenger vehicles have a symbol. If it is not a private passenger vehicle you will leave this blank and answer the "Cost New" question two line down.

Age is more than a little obvious and embarrassing. You have already told them the year built. But age is a cross reference point in some rating manuals. So to avoid mistakes have pity and enter the age. (This year minus the model year)

COMP / OTC SYM - Comprehensive / Other Than Collision Symbol. Only private passenger vehicles will have this.It can be an ISO symbol or some companies publish their own symbols. A symbol is a two digit numeric value used as a cross reference point in manual rating.

COLL SYM - Collision symbol. Only private passenger vehicles will have this.It can be an ISO symbol or some companies publish their own symbols. A symbol is a two digit numeric value used as a cross reference point in manual rating.

GARAGING ADDRESS

STREET (Required in KY) - the actual street address where this vehicle is normally kept overnight. In auto insurance terms "garaging" does not mean an actual building or physical garage. It only means where the car is normally kept when not in use.

CITY - The city of the garaging address.

COUNTY - The county of the garaging address.

STATE - The 2 character abbreviation for the state in which the vehicle is garaged.

ZIP - The 5 digit post office ZIP code for the where the vehicle is kept. Have I mentioned before that ZIP stands for Zone Improvement Plan? Now you can win another bar bet.

LIC STATE - The two digit abbreviation of the state in which this vehicle is licensed. Not always the same as the garaging location.

TERR - The rating Territory. While most states use ZIP codes for private passenger rating, commercial rating still has maps with territories. You will need to reference the tables of cities and counties, or a map for this information. Your agency or carrier will have access to this.

GVW / GCW - This is the gross vehicle weight or the gross combined weight - also defined as the total weight of the vehicle itself and the load it is designed to carry. This will be listed on the vehicle registration. The second item - combined weight - is the total of the GVW for a tractor unit and the trailer to which it is attached.

Private passenger vehicles do not have a GVW.

CLASS - I quote exactly the ACORD FIG form here...This is the primary industry classification code found in rating manuals for commercial vehicles as determined by: *If this is a fleet or non-fleet policy *Commercial autos by size, business use, radius of operation and whether truck or trailer type *Public autos by type of vehicle, radius or seating capacity.

A private passenger vehicle insured on a business auto policy that is not a fleet - 5 or more vehicles are needed to be a fleet - normally uses the private passenger rates and classification code, not the business auto classification code.

SIC - The secondary special industry class. This will be available to you in manuals from your agency or carrier. Or in your commercial rating software.

Class and SIC are two of those things that make agents new to commercial lines uncomfortable. But here is the nice thing about them - you set them on a vehicle and they stay there. With personal lines these are often sorted and assigned to another vehicle based on driver and rating sorting. Commercial is much more straight forward.

FACTOR - This is a rating factor. You will normally leave this blank. The Class and SIC tables carry factors. This would be the sum of those factors.

SEAT CP - This only applies to Public or Livery vehicles - cabs and buses. It stands for seating capacity.

RADIUS - These do not apply to private passenger vehicles. Enter the code from the following list...

L - Local. Up to 50 miles. Not frequently operated beyond a 50-mile radius from the point of principal garaging.

I - Intermediate. Operation beyond 50 miles, but not regularly operated beyond a 200-mile radius from the point of principal garaging.

LH - Long Haul. Regularly and frequently operated beyond a radius of 200 miles.

FARTHEST TERMINAL - Long distance, or long haul vehicles are ZONE Rated. You can find these Zones in business auto manuals or in your rating software. For long haul vehicles enter the physical address for the garaging location farthest from the normal garaging location.

COST NEW $ - This is for vehicles which do not have a symbol. This is not what was paid for this vehicle used, but what would have been paid for it new.

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Wednesday, December 3, 2014

Required ACORD Forms for a Workers Compensation Application in California

We are often asked which forms are required for a specific coverage and state.

If you are using our Simply Easier ACORD Forms service we provide our Knowledge Base tools to answer these questions.

But in this post we will answer that question for an application for a new or renewal workers compensation policy in California.

Your specific carrier may have additional forms they require. We do not have a list of those requirements. For ACORD forms, however, this is the list.

Below each form is a link to a Table of Contents for all our tutorials on how to complete the form correctly.

Workers Compensation is one of the few commercial lines coverages which does not use the ACROD 125 Commercial Insurance Application.

You begin with the ACORD 130 Workers Compensation Application

http://simply-easier-acord-forms.blogspot.com/2014/05/acord-130-workers-compensation_14.html

ACORD 63 Fraud Statements

http://simply-easier-acord-forms.blogspot.com/2014/11/instructions-acord-63-fraud-statements.html

ACORD 64 US - Supplement for Terrorism Coverage

http://simply-easier-acord-forms.blogspot.com/2014/12/instructions-acord-64us-insurance.html

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Instructions ACORD 64US Insurance Supplement for Workers Compensation

The ACORD 64 US is the Workers Compensation supplement for the Federal Terrorism Risk Insurance Act. It should be used in all states with any workers compensation insurance application.

BASIC INFORMATION

Instructions ACORD 64 US Terrorism Coverage Supplement

AGENCY CUSTOMER ID

As with all ACORD forms with more than one page enter your agency customer ID so this page will be able to find the rest of this application if somewhere, somehow in that thing we call the business cycle they get separated from each other.

AGENCY

Enter your agency's name here.

APPLICANT / NAMED INSURED

Enter the same as the Name on the preceding documents in this application.

POLICY NUMBER

Enter the policy number if one exists. If no policy number has been assigned yet enter TBD for to be determined. If you have a binder number enter that here.

CARRIER

The insurance company underwriting this policy. This is the company listed on the DEC page of the policy.

NAIC NUMBER

NAIC stands for the National Association of Insurance Commissioners.

Here is their website home page...

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

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

https://eapps.naic.org/cis/

POLICY HOLDER DISCLOSURE - NOTICE OF TERRORISM INSURANCE COVERAGE

Policy Holder Disclosure Terrorism Insurance Coverage

This section contains the actual coverage details. It references the Terrorism Risk Insurance ACT.

Here is a selection of very good, informative links about this act...

http://www.naic.org/cipr_topics/topic_tria.htm

http://www.treasury.gov/resource-center/fin-mkts/Pages/program.aspx

http://en.wikipedia.org/wiki/Terrorism_Risk_Insurance_Act

https://www.ncci.com/nccimain/industryinformation/terrorismwc/pages/tria-faq.aspx

PREMIUM

Enter the portion of this policy premium which is attributable to this coverage. If you do not know ask you underwriter.

ACKNOWLEDGEMENT and SIGNATURES

Instructions ACORD 64 US

Policyholder/Applicant's Signature - have the authorized representative or representatives sign.

Print Name - have the person who signed print their name.

Date - enter the date the person signed. It is best to have the signee enter the date.

Effective Date - enter the effective date of this coverage - it will normally be the same as the policy effective date.

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ACORD Forms Required for a California Business Auto Application

You almost always need more than one ACORD form to complete an application for new or renewal business.

Supplemental forms commonly required have to do with Terrorism coverage, Fraud Statements, etc.

These forms typically require the insured's signature and become a part of the legal documentation you need to protect your insured, your carrier, your agency and yourself in the event of certain losses.

This post list all the required ACORD forms for a Business Auto Policy application in the state of California.

This list would differ in other states, but this is a good idea of forms in every state. A specific carrier may have some forms of their own which they require. We do not have a list of non ACORD forms required by specific carriers.

As with all commercial lines except workers comp you start with the ACORD 125 Commercial Insurance Application.

http://simply-easier-acord-forms.blogspot.com/2014/06/table-of-contents-overview-how-to.html

Next is the ACORD 127 Business Auto Section

http://simply-easier-acord-forms.blogspot.com/2014/08/table-of-contents-for-acord-127.html

The the state specific ACORD 137CA California Commercial Auto form. Each state has their own 137 form.

http://simply-easier-acord-forms.blogspot.com/2014/12/instructions-acord-137-ca-overview-and.html

The ACORD 60 US Terrorism Insurance Coverage

http://simply-easier-acord-forms.blogspot.com/2014/11/instructions-acord-60us-terrorism.html

The ACORD 61 CA California Auto Supplement. This is the mandatory offer of uninsured motorist coverage. Most states have their own version of this form.

http://simply-easier-acord-forms.blogspot.com/2014/12/instructions-acord-61-ca-overview-and.html

Finally the ACORD 63 US Fraud Statement form.

http://simply-easier-acord-forms.blogspot.com/2014/11/instructions-acord-63-fraud-statements.html

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Instructions ACORD 61 CA Overview and Table of Contents

This post is a table of Contents for the post on instructions for the ACORD CA 61 Uninsured Motorists form.

ACORD 61 CA California Auto Supplement Mandatory Offer of Uninsured Motorist Bodily Injury Coverage

http://simply-easier-acord-forms.blogspot.com/2014/11/instructions-acord-61ca-california-auto.html

ACORD 61 CA California Auto Supplement Mandatory Offer of Uninsured Motorist Property Damage Coverage

http://simply-easier-acord-forms.blogspot.com/2014/11/instructions-acord-61-ca-uninsured.html

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Instructions ACORD 137 CA Overview and Table of Contents

EMAIL TUTORIALS - HOW TO COMPLETE ACORD FORMS

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