Agency Efficiency5 min read
Commercial insurance renewal checklist
Renewals are where E&O claims happen. A client whose business has grown, changed locations, or added employees — but whose coverage hasn't kept up — is a liability for both the client and the agent. Use this checklist on every commercial renewal to make sure nothing gets missed.
Client information
- Confirm legal business name and entity type — has the business been restructured?
- Verify all business locations — any new offices, storage sites, or job sites?
- Confirm ownership and officer list — changes affect workers comp officer exclusions
- Update contact information — email, phone, and mailing address
- Verify FEIN is correct on all policies
Operations and revenue
- Has the scope of work or business operations changed?
- Update annual gross revenue — affects GL rating for many classes
- Has the business added new products, services, or customer segments?
- Any new subcontractors being used? Confirm they carry their own coverage
- Has the business expanded into new states?
Property
- Review building and contents values — inflation means last year's limits may be inadequate
- Any new equipment, machinery, or tenant improvements?
- Confirm construction type is still accurate if renovations occurred
- Review business income / extra expense limits — does coverage match actual revenue?
- Check for any new lease requirements from landlord
Workers compensation
- Update payroll figures by class code — year-end actuals, not estimates
- Confirm employee count and whether any new roles have been added
- Review officer inclusion / exclusion elections
- Pull current X-mod and confirm accuracy of the rating worksheet
- Any subcontractor costs that should be included in payroll?
Commercial auto
- Update vehicle schedule — any vehicles added, sold, or replaced?
- Confirm garaging locations for all vehicles
- Update driver list — any new employees driving company vehicles?
- Pull MVRs for new drivers before renewal
- Review hired and non-owned auto exposure if employees use personal vehicles
Coverage review
- Review general liability limits — do they meet current contract requirements?
- Check umbrella / excess limits against underlying policies
- Any new professional liability or E&O exposure?
- Cyber liability — has the client added new technology or data handling?
- Review deductibles — is the client absorbing more risk than they realize?
Claims and loss history
- Pull loss runs and review all claims since last renewal
- Identify any open claims and get current status from the adjuster
- Prepare an explanation for any large or unusual losses
- Has the client implemented any safety or risk management improvements?
- Any potential claims not yet reported to the carrier?
Market and pricing
- Is the current carrier still the best market for this risk?
- Shop the account if rates have increased more than 10%
- Check carrier appetite — has the carrier tightened underwriting on this class?
- Confirm renewal premium with client at least 30 days before expiration
- Get signed renewal application if carrier requires updated documentation
Tip: Start the renewal process 60–90 days before expiration. Waiting until 30 days out limits your ability to shop the market, correct errors, or handle complications with open claims.
Send clients a renewal intake — automatically
AgencyAssist sends your client a renewal questionnaire that covers everything on this checklist. They fill it out on their phone, you get updated ACORD forms — no phone tag required.
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