Coalition’s approach to insurance is active -- proactively monitoring & alerting to keep your clients safe. This active approach also helps to streamline renewals. Our goal is to ensure your renewal experience is easy and straightforward.
Coalition’s renewal cycle starts 90 days prior to expiration, when we select one of three potential "Renewal Paths": Automatic Renewal, Standard Renewal, or Automatic Renewal Eligible.
Action Required: None.
Overview: The automatic renewal process is touchless. No work is required from you or your insured to renew.
How it works: 90 days prior to expiration, Coalition will provide you with a quote of insurance, updated Coalition Risk Assessment, and updated loss run. The policy will then renew three weeks prior to expiration at the terms provided. Please note that many automatic renewals renew at premiums higher than expiring.
Eligibility: Policyholders with the following traits quality for automatic renewal is:
Annual revenues less than or equal to the amount indicated in our email sent at the beginning of the renewal process.
Aggregate Policy limits up to $5M
No Coalition claims
The number of PII/PHI records AND the number of payment cards stored, processed, transmitted, or accessible is less than 500,000
Appropriate security and risk controls as assessed through Coalition's Active Insurance Scanning
Action Required: Provide a i) signed and ii) updated copy of the renewal application.
Overview: The Standard renewal process involves re-underwriting the policyholder based on updated information. We required an updated, signed renewal application to renew.
How it works: 90 days prior to expiration, Coalition will provide you with a pre-filled renewal application, ransomware supplemental form (if required), updated Coalition Risk Assessment, and updated loss run. Please return the updated application information as quickly as possible. At least 60 days prior to expiration, any conditional non-renewal or non-renewal decisions will be communicated formally. At least 30 days prior to renewal, an updated quote of insurance wil be issued. If updated application information is not provided, a preliminary quote of insurance will be issued based on expiring information 30 days prior to expiration. These terms are subject to change based on any updated information received. For questions, please contact the Coalition Renewals Team ([email protected]).
Eligibility: Policyholders ineligible for automatic renewal will go through the Standard renewal process.
For Standard renewals, this blank renewal application may be useful.
Automatic Renewal Eligible
Action Required: Select a renewal path – automatic or standard – by responding to the solicitation email or emailing the Coalition Renewals Team ([email protected]).
Overview: Occasionally, policyholders qualify for automatic renewal, but experience significant rate increases. In these cases, we offer two options: i) automatically renew based on the expiring underwriting information at the updated terms or ii) undergo a standard renewal with full underwriting based on updated application information.
How it works: 90 days prior to expiration, Coalition will provide you with a quote of insurance, updated Coalition Risk Assessment, and updated loss run. You then can either select to i) automatically renew at the terms provided or ii) provide updated application information and undergo a full standard renewal. To select, respond to the solicitation email or email the Coalition Renewals Team ([email protected]).
Eligibility: Policyholders meet all automatic renewal eligibility requirements, but are experiencing material rate increases.
Excess Renewals: The process for excess renewals is largely the same as standard renewals. One additional piece of information we will need before we can provide a quote are copies of all underlying renewal quotes and loss runs. After these are received, renewal excess terms can be processed.
Regulatory Requirements: For all non-admitted placements, any regulatory requirements associated with the policy remain the responsibility of the broker.