379.830. 1. The facility shall, within five business daysafter receipt of the inspection report and application, completean action report advising that:
(1) The risk is acceptable; or
(2) The risk is acceptable at a surcharged rate and theimprovements necessary before coverage will be provided at anunsurcharged premium rate; or
(3) The risk will be acceptable if the improvements noted inthe action report are made by the applicant and confirmed byreinspection; or
(4) The risk is not acceptable for the reasons stated in theaction report.
2. In the event a risk is declined because it fails to meetreasonable underwriting standards, the facility will so notifythe applicant.
(1) Reasonable underwriting standards shall include, but notbe limited to, the following:
(a) Physical condition of the property, such as itsconstruction, heating, wiring, evidence of previous fires orgeneral deterioration;
(b) Its present use or housekeeping, such as vacancy,overcrowding, storage of rubbish or flammable materials.
(2) Neighborhood or area location or any environmentalhazard beyond the control of the property owner shall not bedeemed to be acceptable criteria for declining a risk.
3. If the risk is acceptable to the facility, the facilityshall notify the applicant, and the licensed producer designatedby the applicant, of the acceptability of the risk and thepremium to be charged. The facility, upon receipt of thepremium, shall within three business days issue the policy to beeffective at 12:00 noon of the date of the receipt of thepremium, unless a later effective date is specified. The policyshall be forwarded to the applicant with a copy to the licensedproducer. The facility shall pay the commission to the licensedproducer designated by the applicant.
4. In the event the risk is conditionally declined becausethe property does not meet reasonable underwriting standards butcan be improved to meet such standards, the facility shallpromptly advise the applicant what improvements noted in theaction report should be made to the property. Upon completion ofthe improvements by the applicant or property owner, thefacility, when so notified, will have the property promptlyreinspected and thereupon shall process the application in themanner described in subsection 3 of this section.
5. If the inspection of the property reveals that there areone or more substandard conditions, surcharges may be imposed inconformity with the filings approved by the director.
6. If the facility declines the risk, or agrees to write thecoverage sought on condition that the property will be improved,it shall promptly send a copy of both the inspection and actionreports to the property owner and the director. At the time thefacility sends such reports to the property owner, it shall alsoexplain his right to appeal the decision of the facility to thedirector pursuant to section 379.850 of the program and shall inwriting set forth the procedures to be followed for such appeal.
379.830. 1. The facility shall, within five business daysafter receipt of the inspection report and application, completean action report advising that:
(1) The risk is acceptable; or
(2) The risk is acceptable at a surcharged rate and theimprovements necessary before coverage will be provided at anunsurcharged premium rate; or
(3) The risk will be acceptable if the improvements noted inthe action report are made by the applicant and confirmed byreinspection; or
(4) The risk is not acceptable for the reasons stated in theaction report.
2. In the event a risk is declined because it fails to meetreasonable underwriting standards, the facility will so notifythe applicant.
(1) Reasonable underwriting standards shall include, but notbe limited to, the following:
(a) Physical condition of the property, such as itsconstruction, heating, wiring, evidence of previous fires orgeneral deterioration;
(b) Its present use or housekeeping, such as vacancy,overcrowding, storage of rubbish or flammable materials.
(2) Neighborhood or area location or any environmentalhazard beyond the control of the property owner shall not bedeemed to be acceptable criteria for declining a risk.
3. If the risk is acceptable to the facility, the facilityshall notify the applicant, and the licensed producer designatedby the applicant, of the acceptability of the risk and thepremium to be charged. The facility, upon receipt of thepremium, shall within three business days issue the policy to beeffective at 12:00 noon of the date of the receipt of thepremium, unless a later effective date is specified. The policyshall be forwarded to the applicant with a copy to the licensedproducer. The facility shall pay the commission to the licensedproducer designated by the applicant.
4. In the event the risk is conditionally declined becausethe property does not meet reasonable underwriting standards butcan be improved to meet such standards, the facility shallpromptly advise the applicant what improvements noted in theaction report should be made to the property. Upon completion ofthe improvements by the applicant or property owner, thefacility, when so notified, will have the property promptlyreinspected and thereupon shall process the application in themanner described in subsection 3 of this section.
5. If the inspection of the property reveals that there areone or more substandard conditions, surcharges may be imposed inconformity with the filings approved by the director.
6. If the facility declines the risk, or agrees to write thecoverage sought on condition that the property will be improved,it shall promptly send a copy of both the inspection and actionreports to the property owner and the director. At the time thefacility sends such reports to the property owner, it shall alsoexplain his right to appeal the decision of the facility to thedirector pursuant to section 379.850 of the program and shall inwriting set forth the procedures to be followed for such appeal.
379.830. 1. The facility shall, within five business daysafter receipt of the inspection report and application, completean action report advising that:
(1) The risk is acceptable; or
(2) The risk is acceptable at a surcharged rate and theimprovements necessary before coverage will be provided at anunsurcharged premium rate; or
(3) The risk will be acceptable if the improvements noted inthe action report are made by the applicant and confirmed byreinspection; or
(4) The risk is not acceptable for the reasons stated in theaction report.
2. In the event a risk is declined because it fails to meetreasonable underwriting standards, the facility will so notifythe applicant.
(1) Reasonable underwriting standards shall include, but notbe limited to, the following:
(a) Physical condition of the property, such as itsconstruction, heating, wiring, evidence of previous fires orgeneral deterioration;
(b) Its present use or housekeeping, such as vacancy,overcrowding, storage of rubbish or flammable materials.
(2) Neighborhood or area location or any environmentalhazard beyond the control of the property owner shall not bedeemed to be acceptable criteria for declining a risk.
3. If the risk is acceptable to the facility, the facilityshall notify the applicant, and the licensed producer designatedby the applicant, of the acceptability of the risk and thepremium to be charged. The facility, upon receipt of thepremium, shall within three business days issue the policy to beeffective at 12:00 noon of the date of the receipt of thepremium, unless a later effective date is specified. The policyshall be forwarded to the applicant with a copy to the licensedproducer. The facility shall pay the commission to the licensedproducer designated by the applicant.
4. In the event the risk is conditionally declined becausethe property does not meet reasonable underwriting standards butcan be improved to meet such standards, the facility shallpromptly advise the applicant what improvements noted in theaction report should be made to the property. Upon completion ofthe improvements by the applicant or property owner, thefacility, when so notified, will have the property promptlyreinspected and thereupon shall process the application in themanner described in subsection 3 of this section.
5. If the inspection of the property reveals that there areone or more substandard conditions, surcharges may be imposed inconformity with the filings approved by the director.
6. If the facility declines the risk, or agrees to write thecoverage sought on condition that the property will be improved,it shall promptly send a copy of both the inspection and actionreports to the property owner and the director. At the time thefacility sends such reports to the property owner, it shall alsoexplain his right to appeal the decision of the facility to thedirector pursuant to section 379.850 of the program and shall inwriting set forth the procedures to be followed for such appeal.
