Workers' Compensation Excess Insurance2007
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Workers' Compensation Excess Insurance
DATE: July 2, 2008
Personnel Manager Randy Peck recommends approval of the Safety National renewal
rate of 12¢ per $100 payroll for the workers' compensation excess insurance renewal.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
~~
Michael C. Van Milligen
MCVM/jh
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
Randy Peck, Personnel Manager
THE CITY OF Dubuque
D~( TR ~ AI-Am~lcacKy
V L
Masterpiece on the Mississippi
2007
TO: Michael C. Van Milligen, City Manager
FROM: Randy Peck, Personnel Manager
SUBJECT: Workers' Compensation Excess Insurance
DATE: June 25, 2008
Cottingham and Butler presented the workers' compensation excess insurance renewal options
for coverage effective July 1, 2008. I have attached the renewal proposal for your review.
Quotes were obtained from our current carrier, Safety National, and Midwest Employers
Casualty Company and Sentry Insurance. Safety National presented the most competitive
proposal for the existing coverages. Safety National proposed a rate of $.12 per $100 of payroll
effective July 1, 2008 through June 30, 2009. The current rate is $.125 per $100 of payroll. The
renewal proposal provides for an estimated annual premium of $25,083 for Fiscal Year 2009.
The current annual premium is $24,024. The increase is related to the increase in our payroll.
If we were to include sworn police officers and firefighters medical claims under the $450,000
retention, Safety National would charge an additional premium of $50,435. Finance Director
Ken TeKippe and I have discussed whether there would be any financial advantage to include
sworn police officers and firefighters medical claims under the $450,000 retention limit. Since
we would be liable for the first $450,000 of medical expenses, we recommend to continue
excluding sworn police officers and firefighters medical claims from the $450,000 retention limit.
Ken and I recommend that we continue with Safety National as our excess workers'
compensation carrier effective July 1, 2008 through June 30, 2009. Cottingham and Butler has
issued a binder to make sure that there would be no lapse in coverage on July 1, 2008.
The requested action is for the City Council to pass a motion approving the renewal rate of $.12
per $100 of payroll submitted by Safety National effective July 1, 2008 through June 30, 2009,
for the workers' compensation excess insurance.
If you have any questions, please feel free to call.
RP:tlb
cc: Ken TeKippe, Finance Director
Jenny Larson, Budget Director
Excess Workers' Compensation Insurance Proposal
for
CITY OF DUBUQUE
Presented by:
Eric Larsen,• Sales Executive
Policy Period:
2008-2009
This is a convenient coverage strmmary not ct legal contract This proposal is provided to facilitate your wnderstanditrg gf'your insurance progrcnn.
Please refer ro the actual policies for specifrc• teens c•wrditions limitations and exclusions that will govent in the event of a loss. Specimen copies of
~ all policies are nvcrilable for review prior to the binding of coverage.
Lr evaluntirrg your exposures to loss, we hove been dependent upon infbnncrtion provided by yoar. /f there are nny other areas that need to be
evaluated prior to binding gf'cnverage, please bring these areas to our attention. Should nny v f your exposures change after coverage is bound, .ruck
as your beginning new operations, hiring employees in new states, buying additional property, etc•., please let trs know so proper coverage can be
discussed.
Cottinghnm & Butler, /ne. i.r compensated through fees and/or commissions for services provided to clients related to managing, reducing, and
transferring risk. /n addition, Cottinghant & Brrtler, Lrc. may enter into agreements with same insurance carriers through which it is compensated
for services provided on behalf of the carriers. This compensation is based on several factors such as overall vohune, growth, acrd in same cases ii
profitability gf•the aggregate premium placed with such carriers. Cottinglutm & Butler subsidiaries mcry nlso receive compensation for services such
crs trtili;ntion review, case management and c•luims handling performed direc•tl for the carriers.
Cotti
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igham & Butler
C&B Insurance ~ SISCO ~ HealthCorp ~ Safety Management
Established 1887
CITY OF DUBUQUE
TABLE OF CONTENTS
Cottingham & Butler -Who We Are
Assurex Global
Service Team
Premium Summary and Payment Options
Excess Workers' Compensation
Appendix A - A.M. Best Rating & Analysis
Additional Coverages
Insurability of Punitive Damages
Please refer to the policy for specific terms, conditions, linzitadons, and exclusions. A specimen copy of tl:e policy is available for review.
Adequate lead time required to secure coverage. Adequate lead time will vary by line of coverage and company, but generally is a minimum of 48
hours. Adequate lead time for Assigned Risk policies will vary by state, but genera/ly is a nzinin:um of 5 business days.
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CITY OF DUBUQUE
COTTINGHAM & BUTLER -WHO WE ARE
OUR MISSION
To PARTNER with our clients to PROTECT their most valuable assets
and to BUILD an exceptional company of passionate insurance professionals.
Cottingham & Butler is a privately held firm headquartered in Dubuque, Iowa with an
expanding set of office locations. Our regional offices are located throughout the United
States to provide our clients with the best service possible. We provide the high-touch
service you would expect from a local insurance broker combined with the high-end
expertise you need in the increasingly complex world of employee benefits and risk
management. As an owner of Assurex Global, the world's largest association of privately
held insurance brokers, we can help you handle almost any insurance-related problem
you may have!
We offer a complete set of employee benefits and risk management services including:
• Brokerage Expertise and Accountability
• Safety & Loss Control Consulting Services
• Claims Management
• Captive & Program Management
• International & Specialty Risks
• Employee Benefits Brokerage & Consulting
• Medical Management Services
• Wellness & Disease Management Solutions
• Personal Insurance & Retirement Products
Our business model is built around three simple tenets:
1. Sit on the same side of the desk with your client.
2. Focus on the total cost of risk, not just insurance costs.
3. Deliver what we design.
This approach has served us well as evidenced by some highlights from our rich heritage:
• In business since 1887
• 54~' largest insurance broker in the United States
• Over 2,000 clients
• Business in over 40 states
• Over 13.5% average organic revenue growth per year over the last 20 years
• National Underwriter Commercial Insurance AGENCY OF THE YEAR 2007
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Our plan for the future is simple: we aim to continue providing the very best in insurance solutions and services
for our clients through our team of highly motivated and talented insurance professionals.
Please refer to the policy for specific terms, conditiora, limitations, and exclusions. A specimen copy of the policy is available for review.
Adequate lead time required to secure coverage. Adequate lead time will vary by line of coverage and cornpauy, but generally is a utinin:un: of 48
hours. Adequate lead time for Assigned Risk policies will vary by state, but generally is a n:inimmtt of 5 business days.
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CITY OF DUBUQUE
ASSUREX GLOBAL
Assurex Global is the world's largest privately held risk management and commercial insurance
brokerage group. Employing more than 20,000 insurance professionals on six continents, the 130-plus
independent insurance brokers who constitute Assurex Global generate annual premiums in excess of
$19 billion.
Founded in 1954, Columbus, Ohio-based Assurex Global is a unique international corporation that
marshals the experience, expertise, products and services of the world's most successful and respected
independent risk management, commercial insurance and employee benefits professionals.
Cottingham & Butler has been a member of Assurex Global since 1986.
PARTNLI2 ~GLIi('"I-ION
Only the best independent agency in each market area is invited to become an Assurex Global Partner.
Each is carefully selected on the basis of its premier market position, history of growth, quality,
breadth of services, integrity, and commitment to serve the clients of all Assurex Global Partners.
Assurex Global Partners meet rigorous financial and leadership standards to be admitted into the
organization. They are re-evaluated every 3 years.
PARTNER REVIEW:
Every Assurex Global Partner periodically undergoes an in-depth evaluation to ensure they continue to
meet stringent qualifications. Factors considered are growth, creativity and their ability to provide the
highest level of professional services.
A hallmark of Assurex Global is the fact that all Partners, regardless of city and country, are
corrunitted to providing an immediate and professional response to other Partners' requests for advice
on local insurance conditions, assistance with local coverage's, and other local services, including
claims and loss control.
Worldwide, the sun never sets on Assurex Global. With Assurex Global, you enjoy access to the most
experienced local brokers, delivering the best insurance products and services in every country of the
world.
Wherever clients have assets at risk, hands-on advice and services are available from local Assurex
Global brokers familiar with the regulatory environment and customs of each country.
Please refer to the policy for specific terms, co~adltions, lnnitations, and exclusions. A specimen copy of tl:e policy is available for review.
Adequate lead tiuae required to secure coverage. Adequate lead time will vary by line of coverage and compm:y, but generally is a n:ininunn of 48
hours. Adequate lead time for Assigned Risk policies will vary by state, but generally is a minin:unz of 5 business daps.
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CITY OF DUBUQUE
SERVICE TEAM
Sales Executive Eric Larsen
Account Administrator Erin Dillavou
Account Service Representative Emilee Clark
& Certificate Requests
Brokerage Claims Representative Sheri Risley
Phone: 563-587-5602
Cell: 563-580-1831
Eric.Larsen@ cb-sisco.com
Phone: 563-587-5544
Erin.Dillavou@ cb-sisco.com
Phone: 563-587-5318
Emilee. Clark @ cb-sisco.com
Phone: 563-587-5245
Sheri.Risley @ cb-sisco.com
After Hours Emergency Claim Reporting:
Direct to Insurance Companies:
Go to cb-sisco.com; click on report a claim; under #2 click on the link; if yes "click here" to see a list
of carrier telephone numbers
PO Box 28
Dubuque, IA 52004-0028
800 Main Street
Dubuque, IA 52001
(563)583-7344 • (800)793-5235
www.cb-sisco.com
Please refer to t/te policy for specific ternis, conditima, fi»titatio~a, ar:d exclusions. A specimen copy of the policy is available for review.
Adequate lead time required to secure coverage. Adequate lead time will vary by line of coverage and company, but generally is a rninin:wn of 48
hours. Adequate lead time for Assigned Risk policies will vary by state, but generally is a minimum of 5 business days.
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CITY OF DUBUQUE
PREMIUM SUMMARY
2007/2008 2008/2009
COVERAGES:
Excess Workers' Compensation $24,024 $25,083
TOTAL ESTIMATED ANNUAL PREMIUM $24,024 $25,083
PAYMENT TERMS:
Full Annual Premium Due. Agency Billed.
PREMIUM PAYMENT POLICY
AGENCI' BILLED POLICIES
During the policy period, if cancellation of a policy(s) results due to non-payment of premium, coverage
will be reinstated only twice. If a policy(s) is cancelled a third time, Cottingham & Butler, Inc. will not
reinstate coverage or present a renewal offer on any coverages.
FINANCED AND DIRECT BILLED POLICIES
If cancellation and reinstatement of a policy(s) takes place more than twice during the policy period,
Cottingham & Butler, Inc. will not present a renewal offer on any coverages.
Note: Higher limits may be available. Please let us know if you would like a quote for higher limits.
hi evaluating your exposures to loss, we have been dependent upon information provided by you. If tl2ere are any other
areas that need to be evaluated prior to binding of coverage, please bring these areas to our attention. Should any of
your exposures change after coverage is bound, such as your beginning new operations, hiring employees in new
states, buying additional property, etc., please let us know so proper coverage can be discussed.
Cottingham & Butler, Inc. is compensated through fees andlor commissions for services provided to clients related to
managitzg, reducing, and transferring risk. In addition, Cottingham & Butler, Inc. may enter into agreements with
some insurance carriers throttgl2 wl2ich it is compensated for services provided on behalf of the carriers. This
compensation is based on several factors such as overall volume, growth, and in some cases profitabilit)~ of the
aggregate premium placed with such carriers. Cottinghatn & Butler subsidiaries may also receive compensation for
services such as utilization review, case management and claims handling performed directly for the carriers.
Please refer to the policy for specifrc terms, conditions, limitations, and exclusions. A specimen copy of the policy is available for review.
Adequate lead time required to secure coverage. Adequate lead tune will vary by Zirte of coverage and con:pauy, but generally is a rninintum of 48
hours. Adequate lead time fm•Assigned Risk policies will vary by state, but generally is a minimum of 5 business days.
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CITY OF DUBUQUE
WORKERS' COMPENSATION COVERAGE SPECIFICATIONS
2007/2008 2008/2009
Company: Safety National Safety National
A.M. Best Rating: A, IX A, IX
Status: Admitted Admitted
Rating and Status as of.• 6/!9/2007 6/19/2007
Limits:
Workers' Compensation (each accident) Statutory Statutory
Employer's Liability (each accident) $1,000,000 $1,000,000
Self-Insured Retention (each accident) $450,000 $450,000
Aggregate Protection None None
Estimated Payroll $20,020,265 $20,902,496
Rate per $100 of Payroll .12 .12
Policy Term Year 1 of 2-Year Term Year 2 of 2-Year Term
Policy subject to Annual Audit: Yes Yes
TOTAL ESTIMATED ANNUAL PREMIUM $24,024/ YEAR $25,083
Minimum Premium
2-Year Term Minimum Premium
$24,024
$48,048
$25,083
Note: Higher limits may be available. Please let us know if yot~ would like a quote for higher limits.
OPTION:
To Add Medical Coverage Only* for Police Officers and Firefighers:
TOTAL ESTIMATED RATE/$100 TOTAL ANNUAL MINIMUM 2-YR CHANGE IN
ANNUAL PAYROLL PAYROLL PREMIUM TERM PREMIDM PREMIUM
$31,465,974 .24 $75,518 $100,000 $50,435
*Indemnity benefits for Police Officers and Firefighters are covered under the Pension program as set forth in Iowa
Code 410 & 411
Please refer to the policy for specific terrns, coudiNons, limitations, and exclusions. A specimen copy of the policy is available for review.
Adequate lead time required to secure coverage. Adequate !earl time will vary by line of coverage arzd company, but generally is a mininuun of 48
hours. Adequate lead time for Assigned Risk policies will vary by state, but generally is a minimum of 5 business days.
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CITY OF DUBUQUE
Rating Basis:
IA 0106 Tree Prunin $166,357
IA 3724 Millwri ht Work NOC & Drivers $101,989
IA 5192 Parkin Meters Install Service or Re air $90,820
IA 5506 Street or Road Construction Pavin /Re aving $864,119
IA 7382 Bus Co-All Other Em to ees & Drivers $874,917
IA 7423 Aircraft of Helico ter O s: Air Carrier-Scheduled or Su lemental $317,628
IA 7423 Aircraft of Helico ter O s: Sales or Service A enc All Other Em to ees Included Above
IA 7520 Waterworks O eration & SD $1,164,105
IA 7580 Sewa e Dis osal Plan O eration & Drivers 1,051,475
IA 8385 Business Co-Gara e Em loyees $72,966
IA 8392 Automobile Stora e Gara e or Parkin Station & Drivers 589,758
IA 8810 Clerical Office Em to ees $8,460,536
IA 8810 Public Library Museum Professional Em loyees Included Above
IA 8831 Hos ital Veterina & Drivers $59,087
IA 8835 Public Health Nursin Association-All Em to ees $105,460
IA 9015 Buildin NOC-O erated b Owner $666,425
IA 9015 Swimmin Pool Public O eration Included Above
IA 9016 Skatin Rink O s & Drivers $0
IA 9060 Club-Countr 244,841
IA 9101 All Other Em to ees $92,247
IA 9182 Park NOC-All Other Em to ees & Drivers 1,338,453
IA 9154 Theater NOC-All Other Em loyees $0
IA 9402 Street Cleanin & Drivers $426,971
IA 9410 Munici al, Townshi ,County or State Em to ees $2,579,428
IA 9419 Municipal, Township County or State Employees NOC Included Above
($105,944)
IA 9403 Garba e and Refuse Collectin in Containers & Dum in $1,528,970
Total Estimated Annual Pa roll $20,902,496
TO ADD POLICEMEN & FIItENI1;N:
IA 7720 Police O cers $5,582,404
IA 7710 Firefi hters $4,981,074
Total Estimated Annual Pa roll $31,465,974
Please refer to the policy for specific teens, conditiora, limitations, mtd exclusions. A specimen copy of the policy is available for review.
,Adequate lead time required to secure coverage. Adequate lead time will vary by line of coverage and company, but generally is a minimum of 48
hours. Adequate lead time for Assigned Risk policies will vary by state, but generally is a minimum of 5 business days.
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CITY OF DUBUQUE
WORKERS' COMPENSATION COVERAGE SPECIFICATIONS -CONTINUED
Exclusions include but are not limited to the following:
W Punitive Damages
~ Injury to employees knowingly illegally employed
~ Intentional Injury
W Serious and willful misconduct of the employer including intentional acts or omissions resulting in an injury
W Injuries outside of U.S., its territories and possessions, and Canada
~ Employment Related Practices
~ Crew Members of any vessel
~ Fines or Penalties
~ Damages to any employee under the USL&H Act, the Federal Employer's Liability Act, or Migrant and Seasonal
Agricultural Worker Protection Act.
~ Monopolistic States are not covered: North Dakota, Ohio, Washington, West Virginia, and Wyoming
W Failure to comply with any health, safety, or notification law or regulation
~ Firefighter and Policy Officer Employees (see option for Medical Benefits Only)
~ Relating to any employer owned, leased, or regularly chartered aircraft
Other exclusions and coverage limitations apply.
Additional Options:
^ Voluntary Compensation
^ United States Longshore & Harborman's Act (USL&H)
^ Jones Act
^ Alternate Employer
^ Scheduled Waivers of Subrogation
^ Blanket Waiver of Subrogation
® Foreign Voluntary Compensation and Employer's Liability Coverage
^ Repatriation
^ Endemic Disease
^ Stop Gap (Coverage for Monopolistic States)
Please refer to the policy for specific terms, conditions, limitations, attd exclusions. A specimen copy of the policy is available for review.
Adequate lead time required to secure coverage. Adequate lead time will vary by line of coverage and company, but generally is a minitnunr of 48
hours. Adequate lead time for Assigned Risk policies will vary by state, but generally is a minimum of s business days.
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CITY OF DUBUQUE
A.M. BEST RATING & ANALYSIS
The objective of Best's rating system is to provide an opinion as to an insurer's financial strength and ability to meet
ongoing obligations to policyholders. A.M. Best's opinions are derived from an evaluation of a company's balance sheet
strength, operating performance and business profile as compared with Best's quantitative and qualitative standards.
Level Category Level Cate o Level Cate or
A++, A+ Su erior B, B- Fair D Poor
A, A- Excellent C++, C+ Marginal E Under Re ulato Su ervision
B++, B+ Very Good C, C- Weak F In Li uidatiotz
S Ratizzg Szzs ezzded
Financial Size Categories
(In $000 of Reported Policyholders' Surplus Plus Conditional Reserve Funds)
Assigned to all companies and reflects their size based on their capital, surplus and conditional reserve funds in millions of
US dollars, using the scale below.
To enhance the usefulness of our ratings, A.M. Best assigns each company a Financial Size Category (FSC). The FSC is
designed to provide the subscriber with a convenient indicator of the size of a company in terms of its statutory surplus and
related accounts. Many insurance buyers only want to consider buying insurance coverage from companies that they
believe have sufficient financial capacity to provide the necessary policy limits to insure their risks. Although companies
utilize reinsurance to reduce their net retention on the policy limits they underwrite, many buyers still feel more
comfortable buying from companies perceived to have greater financial capacity.
FSC I Up to 1,000 FSC IX 250,000 to 500,000
FSC II 1,000 to 2,000 FSC X 500,000 to 750,000
FSC III 2,000 to 5,000 FSC XI 750,000 to 1,000,000
FSC N 5,000 to 10,000 FSC XII 1,000,000 to 1,250,000
FSC V 10,000 to 25,000 FSC XIII 1,250,000 to 1,500,000
FSC VI 25,000 to 50,000 FSC XN 1,500,000 to 2,000,000
FSC VII 50,000 to 100,000 FSC XV 2,000,000 or more
FSC VIII 100,000 to 250,000
Best's Insurance Reports, published annually by A.M. Best Company, Inc., presents comprehensive reports on the financial
position, history, and transactions of insurance companies operating in the United States and Canada. Companies licensed
to do business in the United States are assigned a Best's Rating which attempts to measure the comparative position of the
company or association against industry averages.
Copies of the Best's Insurance Reports on the insurance companies are available upon your request.
Cottingham & Butler uses A.M. Best & Co.'s rating services to evaluate the financial condition of insurers whose policies
we propose to deliver. The rating of the carrier and the year of publication of that rating are indicated. Cottingham &
Butler makes no representations and warranties concerning the solvency of any carrier, nor does it make any representation
or warranty concerning the rating of the carrier which may change.
ADMITTED/NON-ADMITTED/GUARANTY FUND DATA
The term admitted or authorized carrier refers to an insurer, which has been approved (authorized) by a given state's
insurance department to write business within that state. An admitted or authorized carrier is protected by the State
Guaranty Fund should an insolvency (bankruptcy) of the insurer occur. Anon-admitted or unauthorized carrier in a given
state is not protected by the Guaranty Fund in that state should the carrier become insolvent.
It is important to keep in mind that an admitted or non-admitted status as well as the resulting applicability of any state's
guaranty fund are issues only if/when a carrier is declared insolvent.
Please refer to the policy for specr; fic teens, conditions, limitations, and exclusions. A specimen copy of tlee policy is available for review.
Adequate lead time required to secure coverage. Adequate lead time will vary 6y line of coverage and company, bet generally is a minin:unr of 48
hours. Adequate lead time for Assigned Risk policies will vary by state, but generally is a n:ir:imun: of 5 business days.
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CITY OF DUBUQUE
ADDITIONAL COVERAGES
Additional coverages that may be available but not limited to the following:
Auto Liability
Auto Physical Damage
Uninsured/Underinsured Motorist Coverage
General Liability
Employee Benefits Liability
Garage Liability
Garagekeepers
Property
Equipment Breakdown
Flood
Earthquake
Directors & Officers Liability
Crime/Employee Dishonesty
Fiduciary Liability - (The responsibility on trustees, employers, fiduciaries, professional administrators, and the
plan itself with respect to errors and omissions in the administration of employee benefit programs as
imposed by the Employee Retirement Income Security Act of 1974)
Kidnap & Ransom
Higher Liability Limits
Higher Umbrella Limits
Deductible Options
Pollution
Employment Practices Liability - (Wrongful termination, sexual harassment, sexual discrimination, etc.)
Business Income
Extra Expense
Professional Errors and Omissions
Internet Liability
Product Recall
Foreign/International Coverages
If you are interested in pricing for any of the above coverages or any other coverages, please contact our office.
In evaluating your exposures to loss, we have been dependent upon information provided by you. If there are any other
areas that need to be evaluated prior to binding of coverage, please bring these areas to our attention. Should any of
your exposures change after coverage is bound, such as your beginning new operations, hiring employees in new
States, buying additional property, etc., please let acs know so proper coverage can be discussed.
Please refer to the policy for specific terms, conditions, limitations, and exclusions. A specimen copy of the policy is available for review.
Adequate lead time required to secure corerage. Adequate lead time will vary by line of coverage mid company, but generally is a n:irlinaum of 48
hours. Adequate lead time for Assigned Risk policies will vary by state, but generally is a minimum of 5 business daps.
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COMPANY NAME
INSURABILITY OF PUNITIVE DAMAGES PER STATEI
Punitive Damages are Insurable:
Alabama Alaska Arizona Delaware Georgia Hawaii Idaho
Iowa Louisiana Michigan Mississippi Montana New Hampshire New Mexico
Puerto Rico South Carolina Vermont Virgin Islands Washington Wisconsin Wyoming
Punitive Damages are NOT Insurable if directly assessed for an intentional wrong:
Arkansas Dist. Columbia Nevada North Carolina North Dakota Oregon Tennessee
Texas West Virginia
Punitive Damages are NOT Insurable unless awarded out-of-state or vicariously assessed:
California
Punitive Damages are NOT Insurable if directly assessed and not statutorily imposed:
Connecticut
Punitive Damages are NOT Insurable if directly assessed:
Florida Illinois Indiana Kansas Missouri Ohio Pennsylvania
Rhode Island South Dakota
Punitive Damages are NOT Insurable if assessed for an intentional wrong:
Kentucky
Punitive Damages are NOT Insurable unless awarded out-of-state:
New York
Punitive Damages are NOT Insurable unless vicariously assessed for negligence:
Oklahoma
Punitive Damages are NOT Insurable unless assessed for Bodily Iniury caused by unintentional conduct:
Virginia
Punitive Damages are NOT Insurable:
Colorado Maine Massachusetts Minnesota Nebraska New Jersey Utah
~ Information obtained from International Risk Management Institute, Inc. (IRMI), as of November 2006
Please refer to the policy for specific teens, conditions, limitations, a~td exclusions. A specirae~: copy of the policy is available for review.
Adequate lead time required to secure coverage. Adequate lead time will vary by line of coverage and company, but generally is a minimum of 48 hours. Adequate lead
time for Assigned Risk policies will vary by state, but geaerally is a neininuun of 5 business days.
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