Table of Contents

Task Description 2
Procedure 2
1. Update General Info Section 2
2. Update PROPERTY Coverage 2
3. Update GENERAL LIABILITY Coverage 2
4. Update VEHICLE LIABILITY Coverage 3
5. Update VEHICLE PHYSICAL DAMAGE Coverage 3
6. Update EXCESS LIABILITY Coverage 3
7. Update SPECIAL CONDITIONS / OTHER COVERAGES 3
8. Update NAME & ADDRESS Section 4
9. Update Additional Remarks Schedule 4
10. Print binder to PDF 4
 Task Description
This procedure walks you through the process of preparing Acord
binders using an Excel template.
Before processing this task, trainee needs to have a basic
understanding of the Package (PKG), Truck (TRK) and Umbrella
(UMB) quotes, as well as binders.
Procedure
Update General Info Section
• Save a copy of the Excel Acord binder template to your
desktop and open it up
• Update INSURED, COMPANY, EFFECTIVE DATE and
policy number on binder per PKG quote
Note: if there is no PKG quote, use TRK quote
• Open up PKG quote, find NAME AND
MAILING ADDRESS OF INSURED on the first page,
• Update cells B19 (name), B20 (street address)
and B21 (city, State and zip code) on binder
• Find INSURANCE COMPANY on quote and
add to cell F7 on binder
• Find effective date from QUOTE PERIOD on
quote and add to cell F9 on binder
• Find policy number right below quote period
(after QUOTATION) on quote, add to cell I12 on binder
• Update PROPERTY Coverage
Note:
• Skip this section if there is no Property coverage in the
PKG quote.
• If there are multiple locations under Property coverage,
only add the first one here, the rest of the locations will be added to
Additional Remarks Schedule tab
• Update binder with general info of BUILDING-1
• Locate BUILDING-1 in the middle of page
one of PKG quote
• Update cell D25 with PREM. NO. X BLDG.
NO. X
• Update cells D26, D27 and D28 with coverage
 for BUILDING-1 and update the corresponding cells
with deductible, coinsurance percentage and limit for
each coverage. See example below.
Note: Business Income (BI) coverage does not have a
deductible.
• Find valuation type on quote under
OPTIONAL COVERAGES, update cell A28 with
valuation type
Note: If there is more than one valuation type, add other
valuation types to cell A29
See example below.
• Update GENERAL LIABILITY Coverage
• Update General Liability coverage type
• Tick OCCURRENCE in cell B32
• Update General Liability coverage limits
• Find General Liability coverage on PKG quote
and locate LIMITS OF INSURANCE table
• Update cells L30 through L35 on binder against
the above LIMITS OF INSURANCE table
• Add General Liability deductible to binder
• Find ‘Amount and Basis of Deductible’ on
General Liability coverage
• Update cell A33 with amount of deductible, for
example, enter “$1,000 Ded”
• Add Employee Benefits Liability coverage to binder if
rated
• Scroll further down General Liability coverage
and look for ‘EMPLOYEE BENEFITS LIABLITY
COVERAGE’
• If found, update cell A34 with this wording
“EBL $1,000,000 / $1,000 Ded”
• Update VEHICLE LIABILITY Coverage
• Update Covered Auto Symbols
• Open up TRK quote, find LIABILITY
coverage symbol on page one in SCHEDULE OF
COVERAGES AND AUTOS
 • Update cells A37 through A41 on binder per
table below
Auto Liability Symbol on quote includes
Item to tick on binder
1
ANY AUTO (A37)
7
SCHEDULED AUTOS (A39)
8
HIRED AUTOS (A40)
9
NON-OWNED AUTOS (A41)
•
• Add Liability limit and deductible to binder
• Find LIABILITY coverage limit and deductible
in SCHEDULE OF COVERAGES AND AUTOS and
add to cells L36 and A42 respectively
• Update VEHICLE PHYSICAL DAMAGE Coverage
• Update type of insurance on binder
• In SCHEDULE OF COVERAGES AND
AUTOS on TRK quote, find (a) PHYSICAL DAMAGE:
COMPREHENSIVE COVERAGE and (b) PHYSICAL
DAMAGE: SPECIFIED CAUSES OF LOSS
COVERAGE, if there is symbol(s) assigned to either of
the two, check OTHER THAN COL in cell A46 on
binder
• In the same schedule on the TRK quote, find
PHYSICAL DAMAGE: COLLISION COVERAGE, if
there is coverage symbol(s) assigned to it, check
COLLISION in cell A45 on binder
Note: Go to page two of the TRK quote where the SCHEDULE
OF COVERAGES AND AUTOS continues to find this coverage
if it’s not found on page one
• Update VEHICLE PHYSICAL DAMAGE deductibles
• Enter $1,000 in the cell C45 if there is Collision
coverage on quote
 • Enter $1,000 in the cell C46 if there is Other
Than Collision coverage on quote
• Tick SCHEDULED VEHICLES in cell F44
• Tick ACTUAL CASH VALUE in cell H44
• Update EXCESS LIABILITY Coverage
Note: Skip this step if there is no UMB quote
• Tick UMBRELLA FORM in cell A52
• Update Umbrella limit and self-insured retention amount
• Open up UMB quote, go to LIMIT OF
INSURANCE
• Find Each Occurrence limit, add to cell L51 on
binder
• Find Aggregate Limits, add to cell L52
• Find Self Insured Retention, add to cell L53
• Update SPECIAL CONDITIONS / OTHER
COVERAGES
• Add Inland Marine to binder
• Open up PKG quote, go to Commercial
Inland Marine and find the following info
• MISC MOVING EQUIPMENT AND
FORKLIFTS limits and deductible under
‘SCHEDULED PROPERTY FLOATER’
• WAREHOUSE LEGAL limit and
deductible for all locations/buildings
• CARGO LEGAL limit and deductible
• Add info found above to cell B58, B59 & B60
on binder using this format –
B58 - Cargo: $100,000 per single conveyance, $200,000 per
occurrence, $1,000 deductible ($2,000 military deductible).
B59 - Warehouse Legal: Loc #1 $125,000, $1,000 deductible
($2,000 military deductible).
B60 - Misc Moving Equipment: $10,000, Forklifts Included,
$1,000 deductible.
• Update NAME & ADDRESS Section
• Add name and address of additional insured to binder if
insured is affiliated to any of the following three
Name
Address
Stars and Stripes Movers Association
18 Cherry Street, Los Angeles, CA 90001
Go Yankee
525 Pacific Street, Brooklyn, NY 11201
Dawson Van Lines
706 Titanic Avenue, New York, NY 10001
• Go to General Liability, find ADDITIONAL
INSURED(S) table
• If the name and address in the ADDITIONAL
INSURED(S) table matches any of the three above, add
it to cell A62 on binder, and check ADDITIONAL
INSURED in cell I62
Note: Use the Alt + Enter key combination to start new lines
within one cell
• Update Additional Remarks Schedule
• Add “Binder continued…” in cell A13 on the Additional
Remarks Schedule tab
• Add the following wording in cell A15 & A16 if there is
TRK quote
A15 - Truck coverage continued:
A16 - Hired Physical Damage $75,000, $100 Comp Ded, $1,000
Coll Ded; Trailer Interchange $45,000, $1,000 Ded.
• List additional locations with Property coverage
• If there are multiple locations for Property
coverage, add other locations here using format shown
down below
A18 - Property coverage continued:
A19 - PREM. NO. X, BLDG. NO. X
A20 - Building XXXX limit, XXXX deductible, XXXX
coinsurance
A21 - Business Personal Property XXXX limit, XXXX
deductible, XXXX coinsurance
A22 - Business Income XXXX limit, XXXX coinsurance
• List issuing companies of all lines
• See first page of all quotes for issuing
companies, list on binder using format shown down
 below.
Issuing Companies of All Lines:
PKG: XXXXXX
TRK: XXXXXX
UMB: XXXXXX
• List policy numbers for all lines
• See page one of each quote for policy number,
list on binder like below:
Policy Numbers:
PKG: XXXXXXXX
TRK: XXXXXXXX
UMB: XXXXXXXX
• Print binder to PDF
• Use the Ctrl + P combo to bring up the Print screen
• Select printer PDF-XChange 4.0
• Select Entire workbook for Print what
• Click Print to initiate the printing job and save the PDF
binder to the Desktop folder