Contract Certainty
Contract Certainty - What It Means To You
The Contract Certainty Industry Code of Good Practice requires:
- that there is complete and final agreement of terms between the insured and the insurers before inception;
- the full policy and endorsement wordings must be agreed before the insurer formally commits to the contract; and
- an appropriate evidence of cover is to be issued within:
1) 7 working days of inception/renewal for retail customers.
2) 30 days of inception/renewal for commercial customers.
Where business is being conducted via Full Cycle EDI you will already be in possession of all documents necessary to allow contract certainty to be achieved. However, for business written outside of this environment we provide on-line access to our generic policy and endorsement wordings for all product lines (non standard endorsement wordings will be provided with quotation).
These are available for download under the "documentation" tab. The procedure to enable you to copy the relevant endorsement into Word is as follows:
- Press the 'Select Text Button' and highlight the endorsement wording required.
- Right click and copy.
- Then open Word and paste.
Please contact the relevant underwriting division or our Agency Department should you require further information.
