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We have made changes and clarifications to our current Homeowners and Dwelling Fire Underwriting Guidelines as a result of a thorough review of the MA Homeowners marketplace. The new guidelines are for New Business policies effective 07/01/2013 and later. Underwriting Guideline Manuals will be updated on Arbella Connect as of June 3.
For a quick overview of changes please see the highlights below. As several sections of the manuals have been clarified, please refer to the complete listing of sections revised in the "Program Summary" section of each manual. (Homeowners pages 7-8; Dwelling Fire page 2)
Homeowners New Business Underwriting Guideline Changes
- Elite Tier Minimum Coverage A limit changed to $650,000 from $400,000
- Maximum Coverage A limit for Elite, Preferred and Standard programs lowered to $1,500,000. Bridge tier maximum remains at $1,000,000
- Minimum All Peril Deductible for HO3 is $500 for 1-2 family and $1000 for 3-4 family (Excludes Elite Tier)
- Minimum All Peril Deductible in Elite tier is $1000
- Maximum Coverage A for Seasonal Properties is increased to $500,000. Binding authority remains unchanged at $250,000
- Updated Electrical exposures to include homes with Zinsco panels as unacceptable
- Risks with three or more of the same type of animal must be referred to underwriting prior to binding
Dwelling Fire New Business Underwriting Guideline Changes - Home and MA PPA with Arbella required for supporting lines
- Minimum All Peril Deductible for 1-2 families is $500 and $1000 for 3-4 family
- Dwellings with pool exposures will no longer be eligible.
- Smoke Detectors, Deadbolts and Fire Extinguishers are required
- Historic Homes are ineligible
- Updated Electrical exposures to include homes with Federal Pacific or Zinsco panels as unacceptable
- Risks with three or more of the same type of animal must be referred to underwriting prior to binding
K-9 Questionnaire Update We have revised our K-9 Questionnaire form to obtain information for all dogs owned, kept or cared for by the insured or a resident of the home. The revised form will be listed in the Forms Library section of Arbella Connect. Homeowners Renewal Report Enhancement In Arbella's continuing efforts to better serve you we are making an enhancement to the Homeowners Renewal Report. We will now be offering the Homeowners Renewal Report in excel format in addition to the original version on Arbella Connect. There will be no changes to the existing Homeowners Renewal Report and all coverage changes will still need to be submitted through the original format. In the new excel format your agency will be able to sort the Homeowners Renewal Report by producer code, policy type, insured name, etc; the sorting options are endless! We hope this enhancement will be a great addition to your work flow.  If you have questions, please contact your underwriter or territory manager. Thank you for your continued business and support. |
