PLEASE REFER AB LOSSES
I just want to reach out to you with some facts. We have recently noticed that some of the businesses were put through without referring first to the UW and they have huge AB payouts.
It says on our UW guidelines that ANY AB LOSSES over $30,000 has to be referred to the inhouse UW (send email to lorraine.bruce@brokerunion.ca)
These policies are to be written only on the sole discretion of the Underwriter.
IF YOU SEE “OS 21/09” beside a claim it means the claim is probably OPEN, and we cannot write a policy with OPEN AB claims. If the client insist that the claim is closed, then we would require a letter of experience (LOE).
BROKERUNION will Rescind Binding Authority of the Broker and / or freeze commission if this continues to happen.
Please reach out to us if you have any concerns or questions.
Best Regards
Imroz Ahmad
Operations Manager