When submitting a risk to an underwriter, which document must a broker ensure is included?

When submitting a risk to an underwriter, it is essential for a broker to include an accurate specification of cover. This document outlines the specific insurance coverage being requested, detailing the risks to be insured, the sums insured, any extensions, and exclusions. Ensuring this information is precise and comprehensive helps the underwriter assess the risk accurately and determine the appropriate premium and terms for the policy.

Having an accurate specification of cover enables effective communication between the broker and the underwriter, streamlining the underwriting process. It ensures that all parties have a mutual understanding of what is being insured, which reduces the chances of misunderstandings or discrepancies later on regarding the coverage provided.

While a summary of claims, market comparison report, and client feedback form may also be relevant in certain contexts, they do not serve the primary purpose of providing clear and specific coverage details that are critical for the underwriting decision. Therefore, the inclusion of an accurate specification of cover is crucial for the success of the risk submission process.