On receipt of a request for a quotation from an approved Direct Insured (See Section 5.1), new business and renewals but not mid term changes, the Account Executive must send to the Direct Insured the appropriate TOBA and, where applicable, diary for it to be returned duly signed by the Insured.
PSC can only quote business to approved Producers (See Section 5.2). Only Account Executives are authorised to prepare Slips and quote (quotes prepared by Insurers must be checked by the Account Executive) with supporting documents unless specifically agreed by Very Senior Personnel.
Account Executives are responsible for all aspects of the Slip and the supporting documents and to check that all the requirements of the Insured have been taken into account and are accurately shown on the Slip. Account Executives must be certain that all material information is clearly shown on the Slip, or initialled by the Insurer, in a manner that can be established at a much later time. Abbreviations should be avoided unless they are well established and often used in the market.
All claims and circumstances shown in applications for renewals MUST be shown to PSC’s claims department to make certain such claims or circumstances have been notified to the appropriate markets.
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