New Business & Underwriting

When a new application is received in the Underwriting Department, the Underwriter does an initial review of the application and other pertinent documents in the file.

 

The Underwriter reviews the following information:

● existing files,
● medical information bureau (MIB),
● the policy ownership,
● insured’s Canadian status,
● plan information,
● beneficiary details,
● financial details,
● personal history, and
● medical history

If additional information is outstanding, it is requested, and the file is put to a pending queue until the information is provided. Additional information can include:

● emails,
● supporting documentation,
● paramedical reports,
● lab reports,
● attending physician statements (APS),
● motor vehicle reports (MVR), and
● inspection reports (IR)

Once all information is received, the Underwriter will make a final assessment and, if necessary, may seek reinsurance support.