2. SAFM 550 #3 Insurance Personnel

3. SAFM 550 Personnel Roles l Agent l Underwriter l Loss Control Representative l Claims Adjuster l Premium Auditor

4. SAFM 550 The Agent “Middle Man” between policy holder & carrier “Middle Man” between policy holder & carrier Licensed by the state Licensed by the state Appointed by the insurance company Appointed by the insurance company Trained Counselor Trained Counselor

5. SAFM 550 The Agent Both sells insurance & provides services Both sells insurance & provides services Independent – represents two or more companies Independent – represents two or more companies Exclusive or Direct – Represents one company Exclusive or Direct – Represents one company

6. SAFM 550 The Underwriter Insurance Company employee Insurance Company employee Accepts or rejects insurance application Accepts or rejects insurance application Sets limits of insurance Sets limits of insurance

7. SAFM 550 The Underwriter Determines any exclusions Determines any exclusions Decides on amount of deductible Decides on amount of deductible Establishes the premium and terms Establishes the premium and terms

8. What Can Influence An Underwriter’s Decision? Type of business Type of business Scope of operations Scope of operations Premium size Premium size Growth potential Growth potential Financial status Financial status Unusual exposures Unusual exposures Loss History/Potential Loss History/Potential Ability to make money Ability to make money

9. SAFM 550 The Loss Control Representative RISK EVALUATION Completes survey report for underwriter Completes survey report for underwriter Discusses nature & scope of operations Discusses nature & scope of operations Evaluates the losses and loss potential Evaluates the losses and loss potential

10. SAFM 550 The Loss Control Representative RISK EVALUATION Makes recommendations and provides service plan and service cost estimate to reduce loss Makes recommendations and provides service plan and service cost estimate to reduce loss Can use specialists Can use specialists

11. SAFM 550 The Loss Control Representative RISK IMPROVEMENT SERVICES Loss oriented service plan Service starts with a detailed loss analysis Involves accident investigation, job safety analyses etc.

12. SAFM 550 The Loss Control Representative Specialized technical studies Training support Information and research Measure success

13. SAFM 550 The Claims Adjuster Investigates & documents the loss Investigates & documents the loss Determines if loss covered under the policy Determines if loss covered under the policy Determines the value of the claim accordingly Determines the value of the claim accordingly

14. SAFM 550 Premium Auditor Verifies classification Verifies payroll by class Verifies sales Verifies vehicle use and location Verifies Certificates of Insurance