During 2016, the E&S Joint Working Group (E&S JWG) created the Policy Issuance Working Group, which was formed as a result of overall E&S industry interest expressed during the last AAMGA Automation Conference. The goal of the group has been to build on the existing ACORD P&C and Surplus lines XML data standards to support the issuance of a policy.
To maximize efficiency, the Working Group emphasized the need to leverage existing rating and form standards for E&S business in developing new standards for policy documents. The first line of business being worked on is General Liability for new and renewal business transactions.
The group is co-chaired by Harry Snyder (Myron Steves) and Judy Rounds (Nationwide E&S/Specialty). Numerous conference calls were held during the spring and summer with participants from NAPSLO and AAMGA member firms, including general agencies, carriers and solution providers. ACORD staff also participated. These detailed discussions have resulted in well-thought-out additions to existing policy issuance transaction standards. The proposed additions have been formally documented utilizing the ACORD maintenance request process, which included initial discussions within the ACORD review group. The Policy Issuance Working Group has completed its work and referred the proposed standards enhancements to ACORD.
Once approved, the Policy Issuance Working Group will schedule a webinar, hosted by NAPSLO, to explain the additions to the standard for NAPSLO and AAMGA member firms. To receive notice of the webinar, you may request to be added to the NAPSLO member Technology Contacts distribution list or go to the ACORD website and register for the E&S Joint Working Group community.
Following the completion of the General Liability work, the Policy Issuance Working Group will discuss and prioritize additional lines of business and transactions to address. If you would like to participate in these discussions, contact Harry Snyder ([email protected]) or Judy Rounds ([email protected]), or join the E&S JWG community via the ACORD website at acord.org.
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