8481 Jefferson Highway | Minneapolis, MN 55369-4588 | T: (763) 488-3700 | E: service@Altair-USA.net

Pre-Binding


Altair conducts pre-binding underwriting audits of managing general agencies and third-party administrators prior to the granting of binding and claim handling authority by:

  • Assessment of staffing, structure, history, potential conflicts, procedures and existing company relationships
  • Examination of current lines of business, production sources, underwriting philosophy and quality of risk selection
  • Validation of claim processes, reserving philosophies, external vendor usage, expenses, authorities, diary and supervision
  • Verification of regulatory compliance monitoring, dedicated operational resources, accounting practices and banking
  • Review of system capabilities, reporting, processing, self-auditing, checks and balances
  • Evaluation of procedures in place for quotations, binders, cancellations, fees, commissions and other deductions
  • Investigation or completeness of contract and file documentation, correspondence, pricing and modeling