Rating and Quote Generation
Overview
Section titled “Overview”Once an application is entered and the underwriting information is complete, you can generate a premium quote. The system calculates the premium automatically based on the information you entered — you then select the coverage options and review the result before sending it to the producer.
Before Rating
Section titled “Before Rating”Run guidelines validation before generating the rate. If any critical guidelines fail, resolve them first so the quote reflects accurate and eligible coverage.
Generating the Rate
Section titled “Generating the Rate”Rate Generation button on the application toolbar, showing the application in Received status
- Open the application from Policy Search or your dashboard queue.
- Click Generate Rate (or Rate in the toolbar).
- The system calculates the premium based on the application data.
- The Quote Stepper opens automatically.
Quote Stepper — Step 1: Select Limit of Liability
Section titled “Quote Stepper — Step 1: Select Limit of Liability”Quote stepper step 1 showing limit of liability options as a dropdown or radio button list
Choose the per-claim and aggregate limit of liability from the options available for this product line and state. The available limits vary by line of business.
Quote Stepper — Step 2: Select Deductible
Section titled “Quote Stepper — Step 2: Select Deductible”Quote stepper step 2 showing deductible options with credit percentages next to each option
Select the deductible amount. Higher deductibles reduce the premium. The credit percentage for each deductible option is shown next to each choice.
Quote Stepper — Step 3: Add Optional Coverages
Section titled “Quote Stepper — Step 3: Add Optional Coverages”Quote stepper step 3 showing optional coverage checkboxes such as EPLI and cyber
Depending on the line of business, additional coverages may be available:
| Coverage | Available For |
|---|---|
| EPLI (Employment Practices Liability) | Accountants Standard |
| Embezzlement | Accountants Standard |
| Business Brokerage | Real Estate Standard |
| Mortgage Brokerage | Real Estate Standard |
| AMC Coverage | Appraisers Express |
| Trainee Coverage | Appraisers Express |
| Cyber Liability | Available as standalone or add-on |
Quote Stepper — Step 4: Review Premium
Section titled “Quote Stepper — Step 4: Review Premium”Premium review screen showing a breakdown of base premium, taxes, fees, and total due
The final screen shows a full breakdown of the premium:
| Line Item | Description |
|---|---|
| Base Premium | Core premium before taxes and fees |
| State Tax | Applicable surplus lines tax for the state |
| Stamping Fee | State stamping office fee (where applicable) |
| City Tax | Municipal tax (certain cities) |
| Guarantee Fund Surcharge | FL and NJ specific surcharge |
| Total Premium | Sum of all line items |
| Commission | Producer commission (retained from total) |
| Net Due to Carrier | Premium after commission |
Saving the Quote
Section titled “Saving the Quote”Click Save Quote to record the selected options. The application moves to Rated status.
You can generate multiple quotes for the same application (for example, to show different limit options) — only the most recent saved quote is used when moving to bind.
Re-Rating
Section titled “Re-Rating”If the application data changes after a quote is saved (for example, the producer reports a change in revenue), you can re-rate:
- Update the relevant fields in the application.
- Click Generate Rate again.
- Work through the Quote Stepper with the updated data.
- Save the new quote.
Product-Specific Notes
Section titled “Product-Specific Notes”Accountants Standard
Section titled “Accountants Standard”Uses a full algorithm with revenue-based tier placement, IRM credit/debit factors, AOP (area of practice) credits, and optional EPLI and embezzlement coverages.
Accountants Express
Section titled “Accountants Express”Simplified table-based rating using a quick premium lookup based on revenue and selected limit.
Real Estate Standard
Section titled “Real Estate Standard”Includes state-specific factors, business brokerage, and mortgage brokerage add-ons.
Appraisers Express
Section titled “Appraisers Express”Applies disciplinary action and claims history factors. New York uses a separate rating algorithm.
Cyber Liability
Section titled “Cyber Liability”Rated by limit selection. Not available in ND, KS, VT, AR, NY, CA, or MA.
Lawyers and Miscellaneous
Section titled “Lawyers and Miscellaneous”Carrier-based rating with a default commission of 25%.