Commercial Underwriting Checklist

Match SIC/NAICS code, hazard grade, and TIV against the current appetite guide. Out-of-appetite submissions should route to wholesale or be declined early — not sit in the queue burning cycle time.

Run clearance in PolicyCenter or Duck Creek to confirm no other producer has the account in process. Broker-of-record disputes are the most common reason a quote gets pulled mid-cycle.

Pull the NPN from NIPR and confirm the producer is licensed in the risk state, holds the right line authority, and is appointed with the carrier. An unappointed bind is an unauthorized transaction the carrier can rescind.

Verify the ACORD 125 (commercial app), 130 (WC), 140 (property), and any supplementals are dated, signed, and consistent. Watch for AMS auto-population that drifts from current operations across renewal cycles — payroll, sales, and class codes are the usual offenders.

Request currently-valued loss runs (within 90 days) from each prior carrier on the submission. For workers comp, also pull the e-mod worksheet from NCCI or the state bureau. Open claims need development factors applied before they go into the loss pick.

Order MVRs on all listed drivers, LexisNexis CLUE for property loss history, and a loss control inspection if TIV exceeds the carrier's threshold. Inspection lead times run 2–4 weeks; order early or the bind date slips.

Reconcile reported payroll, sales, and unit counts against tax filings or financial statements where available. Under-reported payroll on a WC application becomes an additional premium bill at audit — and a disputed audit at that.

Substandard risks need senior UW sign-off before quoting — schedule mod justification, loss-ratio commentary, and any binding-authority exceptions documented in the file.

Rate using filed rates, rules, and forms for the risk state. Confirm the state's filing posture (prior approval, file-and-use, use-and-file) — pushing an unfiled rate change live in a PA state creates an unauthorized rate exposure.

Document each schedule mod factor with a written justification tied to the file (loss control report, management experience, premises condition). "Competitive pressure" is not a filed reason and shows up as a market conduct finding.

For E&S placements, calculate state-specific premium tax and stamping office fees. Filing windows run 30–60 days post-bind in most states; missing them is a producer-level compliance issue even when a wholesaler does the placement.

Walk the subjectivity list one by one against the file. A bound policy with open subjectivities is a coverage dispute waiting to happen.

Cross-check the bind against the producer's authority document — line, hazard grade, limit, and per-risk premium ceiling. Bind authority breaches are common where an agency is appointed with multiple carriers with different authority terms.

Deliver the binder, dec page, and forms schedule to the producer. Confirm any state-required disclosures — NY Reg 187 producer compensation, FL hurricane mitigation, CA WC notices — are attached to the issued policy.

Archive per the carrier's retention schedule — typically 5–7 years for P&C, longer for WC given lifetime medical exposure. The file should stand on its own at a market conduct exam without the underwriter present to explain it.