In: Operations Management
Part 20. In a surplus lines insurance submission, the surplus lines insurer may agree to quote the customer’s submission without a new inspection if the customer submits which one of the following to the insurer?
Select one:
a. Annual report
b. Risk control report
c. Form 10-K
d. Financial statement
A risk control report is one, which contains the result of a physical inspection conducted previously by the individual’s risk control representative. As analysis of a risk control representative is already being submitted, then there is no need for a new inspection.
Answer: Option b