Upon renewing an insurance policy, damage insurance agents and brokers must comply with certain obligations. Under these obligations, a representative must ascertain that the coverage provided for meets the client’s needs. Over the course of one year, these needs may change. Representatives should therefore:
- Consider renewals with the same diligence as they do for new policies. This includes:
- Reviewing the needs of the insured and re-examining them;
- Validating the actual coverage and advising the client;
- Reviewing the renewal issued and the payment method
- Refer to the Procedure made available by the Chambre de l’assurance de dommages (ChAD) to make sure that nothing is being overlooked.
- Contact the insured verbally or in writing. When communicating in writing, we encourage representatives to use one of the ChAD’s Check-Lists for the Insureds.
It is designed to help representatives comply with their obligations upon insurance policy renewals
- You will find among others:
- Information on reviewing and examining the needs of the insured
- What a renewal notice should include
- The obligations in relation to validating actual coverage
- Specifications concerning business insurance renewal
- Steps to take in order to review a renewal issued and payment methods
Tools and resources to help you
These check-lists are intended to be sent to the insured along with the renewal notice. They served to remind the insured to contact his or her damage insurance representative to share any change that may call for modifications to the insurance policy. Download the printable versions below.