Corporation

Schedule Rating

MSO's simplified commercial programs offer a wealth of advantages for small to mid-size insurers. Developed on the premise that no two risks are exactly the same, the biggest advantage these programs offer is schedule rating. Our ability to provide specific rates on all buildings, regardless of size, helps MSO company subscribers underwrite risks more profitably.

Rates reflect the unique circumstances surrounding each risk. Our field staff conducts detailed property inspections and provides company subscribers with a personalized narrative field survey on every risk. The survey includes a replacement cost analysis that provides both estimated replacement cost value and depreciated value to help prevent underinsuring. The survey also provides basic liability information and other positive underwriting input to help write the account.

In addition to the field survey, companies and agents automatically receive copies of the schedule rating worksheet, which shows the existing rate for the property as well as a lower idealized rate. A list of easy-to-follow steps that outlines exactly what the policyholder can do in order to qualify for the idealized rate is also provided. All recommendations are based on nationally recognized standards, such as those established by the National Fire Protection Association as well as general building codes.

Together the inspections, field surveys and idealized rate recommendations benefit all parties. Not only do they help the company write business more profitably by providing rates that reflect individual circumstances, they also help the company improve its book of business by encouraging insureds to improve risks. Agents are able to take on the value-added role of risk manager with smaller commercial accounts. And policyholders are given guidance in improving workplace safety and saving money on their insurance.

Simplified Commercial Property Program

What separates the MSO commercial property program from others are our simplified forms and rating procedures. Just one main form and declarations pages are all that are needed to complete the basic policy. That means less paper work, less chance of error, faster processing and less required storage space for forms. Forms are easy to read and understand, while being fully compatible with ISO forms.

In addition to providing fire rates on individual commercial properties, we can help company subscribers write coverage on properties not yet rated by MSO. We devise tentative schedule rates, or transitional rates, to be used until an official schedule rate is published.

Commercial General Liability Program

Since most MSO subscribers write package policies, we designed our commercial general liability program to track with our simplified commercial property program. Many of the class codes are the same for both property and liability. This universal coding system greatly simplifies rating procedures.

As with the commercial property program, we've also developed a simplified set of liability forms. Multi-use endorsements are built into the main coverage form, thus reducing paperwork and facilitating faster processing. Coverages track with ISO, but are designed to give our company subscribers better control over what they write. For example, our program contains provisions to write basic premises-only liability coverage in one easy step. Achieving the same results through other programs requires multiple endorsements.

Businessowners Program

The MSO businessowners program is one of the easiest and most competitive on the market. It features broad coverage options and wide a range of eligibility classes. The eight page, pocket-size manual clearly outlines all rules and rating procedures.

Fast accurate quotes are generated by using a streamlined application and worksheet. As with all MSO programs, our businessowners program forms and endorsements are easy to use and understand. A declarations page, one main coverage form and a supplemental declarations page are all that are required.