Use this reference guide to expedite the submission process

Download Nationwide specialty insurance new program submission checklist

Claim data

Minimum requirements (two options)

1. Recently evaluated aggregate claims data (incurred loss and incurred ALAE) by accident year or policy year, CAT and ex CAT separately by line of business for preferably the last five complete years.
  • Need large loss history:
    • Detail on all losses above $100,000
    • Date of loss
    • Type of loss/description
    • Indication if this type of exposure is still active (or will be after book roll)
    • Amount paid/incurred (loss and ALAE) direct ground up data triangles (CAT and ex CAT separately, preferably by line of business) to enable actuarial to apply proper loss development.
  • Need large loss history:
    • State
    • Class
2. Recently evaluated detailed claims data in Excel for preferably the last five complete years including:
  • Claim number
  • Accident date
  • Policy number and effective date
  • Paid loss
  • Paid ALAE
  • Incurred (or outstanding) loss
  • Incurred (or outstanding) ALAE
  • Catastrophe indicator (if applicable)
  • Line of business
  • Deductible, and recoveries (if applicable)
  • Cause of loss (i.e., BI/PD or more subjective description of the claims)
  • State, class, or any other detail that gets to the appropriate level at which rate adequacy needs to be evaluated

Policy/premium information

Minimum requirements

  1. GWP/GEP by year, either calendar year or policy year; year of the premium should be aligned with loss and ALAE years for appropriate matching of premium and losses
  2. Mix of premium by state and class
  3. Exposure information by year
  4. Policy counts
  5. History of policy limits profile
  6. History of deductible/SIR limits on property
  7. List of covered perils

If catastrophe-prone, the location detail with insured values needs to be submitted to run through the catastrophe modeling system.

If premium is provided as opposed to exposures, the rate history by line of business is required.

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