Underwriting
What Underwriters Need Before Quoting a Risk
Every additional information (AI) request from an underwriter represents a delay — typically 3–7 business days per round trip. Most AI requests are for information the agent already has or could have collected during intake. Understanding exactly what underwriters need before they can quote is the fastest way to eliminate back-and-forth and get competitive quotes back quickly.
The universal requirements — every commercial submission
Completed ACORD 125
Legal business name matching the entity documents, correct FEIN, physical address for rating (not PO Box), entity type, years in business, prior insurance carrier and expiration date.
Accurate description of operations
The most common reason underwriters request additional information. "Retail store" is not a description of operations. Underwriters need: what the business does, who its customers are, what it sells or provides, any unusual or specialty activities, and revenue breakdown if operations are diverse.
5-year loss history (loss runs)
Prior losses from the prior carrier, certified by the prior carrier. New ventures without prior insurance need a statement of no prior coverage. Loss runs must be current — typically within 60–90 days.
Annual revenue, payroll, and subcontractor cost
Revenue is the primary GL rating basis for most commercial classes. Payroll drives WC premium. Subcontractor cost affects contractors GL. All three must be provided on an annual basis.
Prior policy declarations page
Underwriters want to see what coverage the insured currently has — limits, deductibles, endorsements. A prior dec page signals the quality of the account's prior coverage and highlights gaps.
What underwriters need by coverage line
General Liability
→Annual gross revenues or receipts
→Description of all operations including any subcontracted work
→Subcontractor cost as a percentage of total revenue
→Square footage of owned or leased premises
→Whether the business operates at customer locations
→Products sold or distributed (for product liability rating)
→Completed operations tail — for contractors, how long ago oldest completed work was performed
Workers Compensation
→Total annual payroll by WC class code
→Number of employees by job function
→States where employees work
→Experience modification rate (EMR)
→Ownership payroll — officer/owner inclusion or exclusion elections
→Any employee leasing or PEO arrangements
→Safety programs and OSHA compliance status for high-hazard classes
Commercial Property
→Building replacement cost value (not market value, not assessed value)
→Construction type: frame, joisted masonry, masonry, fire-resistive
→Year built and last roof replacement year
→Square footage
→Occupancy — what the building is used for
→Sprinkler system presence and type
→Business personal property value
→Business income — 12-month projected revenue
The information that triggers AI requests most often
✕Vague operations descriptions — underwriters cannot rate what they cannot understand
✕Missing loss runs — the #1 reason new submissions stall at the underwriting desk
✕No prior carrier information — raises questions about insurability history
✕Revenue that doesn't match the industry — either too high or too low relative to the class code raises flags
✕Payroll that's inconsistently estimated — round-number payrolls ($50,000 exactly) signal a guess, not a figure from actual records
Collect everything underwriters need — before you call the market
AgencyAssist intake captures every field underwriters need to quote, by coverage line and industry, in one client link.