Products - ILM Submission Requirements
The following are our submission requirements and guidelines. While
compliance with all or part of the requirements set forth in this document
does not guarantee insurance coverage, it will alleviate any potential
declination of the application or difficulty in processing.
Business Parameters
- Minimum premiums are $15,000 for multiple lines and $10,000 for Property only.
- Only woodworking operations/lumber manufacturing and retail/wholesale distribution
of building materials are eligible.
Application and Loss Information
- Complete ACORD applications for all appropriate coverages.
- Loss summary for the current year and the prior four (4) years.
General Information
- Current carrier, target premium and whether you currently control the account.
- Date on which quote is needed.
Loss Control Evaluation
- Many accounts submitted to ILM may need a physical loss control survey completed prior to
quoting insurance coverages; this will be completed by a representative of ILM.
Property
- Statement of values including breakdown of buildings, business personal
property, stock (including open yard storage) and inland marine equipment by
building and by location.
- Building information including occupancy, construction, protection and age.
- Certified appraisal (if available).
- Business Income worksheet needed for limits of $500,000 or more.
General Liability
- Identification of all additional named insureds.
- Description of the operation/responsibilities for each additional named insured.
- Description of all installation, repair, construction, contracting or equipment
rental operations.
Business Auto
- Complete vehicle information including the following:
- Full Vehicle Identification Number (VIN) for all vehicles.
- Vehicle description, business class and radius of travel.
- Drivers' list including all family members with access to business vehicles,
all drivers of company vehicles (including part-time drivers) and all employees
operating their personal vehicles at least eight (8) hours per week for business
use with the following information:
- Date of birth
- State issuing license
- License number
Umbrella
- Current Workers' Compensation carrier, policy number and policy period.
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