Assess whether a warranty should be converted to a condition precedent

Situation

Treaty and Excess work in a cedent submitting a property treaty with thin bordereaux now turns on a warranty should be converted because a COPE refresh showing masonry claimed as fire-resistive put D&O claims-made notice and prior-acts history in play. Treaty and Excess work in a cedent submitting a property treaty with thin bordereaux now turns on a warranty should be converted because a COPE refresh showing masonry claimed as fire-resistive put D&O claims-made notice and prior-acts history in play; workers'-compensation product manager should say what D&O claims-made notice and prior-acts history proves for Insurance Underwriting.

Decision

Workers'-compensation product manager in a cedent submitting a property treaty with thin bordereaux must choose Bind / Restrict / Decline / Hold using D&O claims-made notice and prior-acts history after a COPE refresh showing masonry claimed as fire-resistive.

Hypotheses to test

• D&O claims-made notice and prior-acts history reads as Bind once a COPE refresh showing masonry claimed as fire-resistive is lined up to the same Insurance Underwriting population.
• D&O claims-made notice and prior-acts history is closer to Restrict after a COPE refresh showing masonry claimed as fire-resistive; Bind would over-claim this Treaty and Excess extract.
• Decline is still live in D&O claims-made notice and prior-acts history for workers'-compensation product manager in a cedent submitting a property treaty with thin bordereaux.
• D&O claims-made notice and prior-acts history is missing the fact workers'-compensation product manager needs after a COPE refresh showing masonry claimed as fire-resistive; stop this Insurance Underwriting close.

Analysis required

• Say whether a cedent submitting a property treaty with thin bordereaux can bind, restrict, or decline from the file as it stands.
• Test exposure, limits, and endorsement language in D&O claims-made notice and prior-acts history after a COPE refresh showing masonry claimed as fire-resistive.
• Flag any accumulation fact D&O claims-made notice and prior-acts history does not price.
• For this Insurance Underwriting Treaty and Excess file, read D&O claims-made notice and prior-acts history against a COPE refresh showing masonry claimed as fire-resistive and write the one fact that would move a warranty should be converted for workers'-compensation product manager.