From many who write such, a BOP is figuratively the closest thing to personal auto insurance; underwritten by checklist. The concept may be necessary. In any underwriting endeavor however, having to rely solely on checklists will cause unrealized lethargy of sorts and as risk evolves, or human nature finds a way around the system, the list will be slow to catch up. The lag time will be costly to insurers.
From many who write such, a BOP is figuratively the closest thing to personal auto insurance; underwritten by checklist. The concept may be necessary. In any underwriting endeavor however, having to rely solely on checklists will cause unrealized lethargy of sorts and as risk evolves, or human nature finds a way around the system, the list will be slow to catch up. The lag time will be costly to insurers.
Hi Richard – By “checklist”, are you referring to the innumerable coverage parts or options in the program?