4/1/2023 - 12/31/2024
Approved Broker
Work on the 2024 Renewal
Partner With Clients and Support System Throughout the Year
Support NOIT and Corp. as needed
Corp. Approval Process (Property/General Liability Only)
NOIT Meeting to approve changes for 2024 (September)
Broker Meetings at Corporate Headquarters (Late-October)
Corp. Provides New Broker and Insurer Agreements/Requirements (12/9)
Insurers Review Requirement changes to decide if they want to participate
Brokers Review Requirement changes Brokers Finalize Insurance Markets, Reprice, Renegotiate, etc.
Brokers Submit To Corp. Required Agreement Signers (12/21)
Corp. and/or NOIT Provide Brokers Others Requirements
Brokers adhere to new Agreements/Requirements if they want to be "Approved"
Brokers provide other required items to Corp. per 2024 Agree. (12/31 or prior)
Execute/signing of all Annual Agreements (within 30 days after receiving correct draft)
NOIT Meeting (End of December)
Email from NOIT sent to all US Owner/Operators (1/3)
Agreement Finalization with Insurance Markets
Brokers provided renewal terms by national providers Gallagher/McGowan/Aon (1/12)
Clients Updated On Renewal, Expectations, etc.
Broker Update Their Internal Systems with Changes in Agreements and in Emails
changes to data feeds required, new 2/6
RSUI EPLI option, RSUI EPLI O/O deductible exception/increase list, remove TLPG references, remove Lapointe references, new policy numbers, Umbrella paperwork, etc. Broker Final Negotiation of Terms, Options, Other Coverages, and Premiums Brokers receive pricing for Excess Catastrophe Property (1/19)
Brokers provided high-level email from NOIT (1/22) - "start your engines"
EPLI (optional), Cyber (optional), other Approved Rules, Approved Broker Listing, Excess Property details, Coverage Compare Template to return, etc.
NOIT Final Meeting in Hawaii (Late-January)
Brokers Send Insurance Proposals to Owner/Operators (2/5)
Bind Coverages / Send Confirmations of Coverage to Owner/Operators
3/1 - Brokers Bind Coverages with their direct insurance companies/markets
3/1 - Package Policy Effective Start Date
3/1 - Brokers support NOIT in reconciling their bind data: Umbrella, Quake, EPLI, Cyber, etc.
3/2 - Brokers support NOIT in reconciling their bind data: Umbrella, Quake, EPLI, Cyber, etc.
3/3 - Brokers support NOIT in reconciling their bind data: Umbrella, Quake, EPLI, Cyber, etc.
3/4 - Brokers support NOIT in reconciling their bind data: Umbrella, Quake, EPLI, Cyber, etc.
3/5 - Brokers support NOIT in reconciling their bind data: Umbrella, Quake, EPLI, Cyber, etc.
3/6 - Brokers support NOIT in reconciling their bind data: Umbrella, Quake, EPLI, Cyber, etc.
3/6 - Owner/Operators deposit invoice(s) to be paid to Broker
3/7 - Brokers support NOIT in reconciling their bind data: Umbrella, Quake, EPLI, Cyber, etc.
3/8 - Brokers receive policies from their direct insurance companies/markets
3/8 - NOIT Binds Coverage for Umbrella cc's broker
3/8 - NOIT Binds Coverage for CA Earthquake and cc's broker
3/8 - NOIT Binds Coverage for Excess Property cc's broker
3/11 - Brokers continue to support NOIT in reconciling their bind data: EPLI/D&O and Cyber
3/12 - NOIT Binds Coverage for EPLI/D&O cc's broker
3/12 - NOIT Binds Coverage for Cyber cc's broker
3/15 - Aon sends Broker Invoice for CA Earthquake
3/15 - Aon sends Broker Invoice for Excess Property charges
4/1 - All Insurers required and provide 2 specimen/sample policies to Corp.
4/1 - All Brokers required and provide AM Best Ratings and Carrier/Market Listing
4/1 - NOIT Invoice sent to Brokers for ORMA Fees
4/1 - NOIT Invoice sent to Brokers for TLPG Fees
4/23 - Aon provides final broker agreement to Brokers
4/23 - Aon/Brokers execute Excess Property agreement
5/15 - Brokers receive NOIT Cyber policies
6/15 - Brokers receive NOIT EPLI/D&O policies
6/15 - Brokers receive NOIT Umbrella policies
Never Received - Brokers receive NOIT Excess Property and NOIT CA Earthquake policies
Owner/Operator
Loss Prevention
Review Claims/Losses (at least monthly)
Plan/Budget for 2024
Submits Insurance Application
Receive Insurance Proposal(s)Review Proposal With your Agent
Renew with your Broker and Send Payment timely
4/1/2022 - 12/31/2023
Approved Broker
Begin Working on the 2023 Renewal
Partner With Clients Throughout the Year
Corp. Approval Process (Property/General Liability Only)
- solutions must meet or exceed draft insurer agreement requirement
- national programs (Umbrella, EPLI/D&O, Cyber) rates up 58% per restaurant
Umbrella, D&O, EPLI, Cyber, and Earthquake
Email Sent to all US Owner/Operators by NOIT - 1/5
Final Negotiation of Terms, Options, Other Coverages, and Premiums
Clients Updated On Renewal, Expectations, etc.
Update Internal Broker Systems
Send Insurance Proposals
Bind Coverages / Send Confirmations of Coverage to Owner/Operators
3/1 Package Policy Effective Start Date
Collect Deposits/Premiums and Remaining Paperwork
Reconcile/Pay Premiums/Fees to Companies, Markets, McDonald's Corp., ORMA/NOIT, etc.
Brokers Receive The Policies They Control
Brokers Review The Policies They Control
Brokers Sends The Policies They Control to Owner/Operators
Brokers Receive National Program Policies <- 5/25
Brokers Review National Program Policies
Brokers Send National Program Policies to Owner/Operators
Owner/Operator
Loss Prevention Review
Review Claims/Losses (at least monthly)
Plan/Budget for 2024
Submit Insurance Application
Receives Insurance Proposal(s)
Reviews Proposal With Agent
Renews with Approved Broker
4/1/2021 - 12/31/2022
Approved Broker
Begin Working on the 2022 Renewal
Partner With Clients Throughout the Year
Corp. Approval Process (Property/General Liability Only)
- solutions must meet or exceed draft insurer agreement requirement
- national programs (Umbrella, EPLI/D&O, Cyber)
Umbrella, D&O, EPLI, Cyber, and Earthquake
Email Sent to all US Owner/Operators by NOIT - Early Jan.
Final Negotiation of Terms, Options, Other Coverages, and Premiums
Clients Updated On Renewal, Expectations, etc.
Update Internal Broker Systems
Send Insurance Proposals
Bind Coverages / Send Confirmations of Coverage to Owner/Operators
3/1 Package Policy Effective Start Date
Collect Deposits/Premiums and Remaining Paperwork
Reconcile/Pay Premiums/Fees to Companies, Markets, McDonald's Corp., ORMA/NOIT, etc.
Brokers Receive The Policies They Control
Brokers Review The Policies They Control
Brokers Sends The Policies They Control to Owner/Operators
Brokers Receive National Program Policies <- Late May
Brokers Review National Program Policies
Brokers Send National Program Policies to Owner/Operators
Owner/Operator
Loss Prevention Review
Review Claims/Losses (at least monthly)
Plan/Budget for 2023
Submit Insurance Application
Receives Insurance Proposal(s)
Reviews Proposal With Agent
Renews with Approved Broker
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