RAILROAD PROTECTIVE LIABILITY COVERAGE FORM ACORD FORMS CONSIDERATIONS

(November 2022)

OVERVIEW

ACORD forms are designed primarily for use with standard insurance manuals, rules, rating plans, and policy forms. This includes the Railroad Protective Liability Coverage Form. For the most part, ACORD forms are relatively generic in nature. If the Railroad Protective Liability Coverage Form is written in combination with a specific independent specialty or company program, company specific forms may be needed for that account instead of, or in addition to, the normal ACORD forms that apply.

RELEVANT ACORD FORMS

Note: Only countrywide ACORD forms are listed in this section. State specific ACORD forms are not listed.

• Form 125–Commercial Insurance Application
• Form 126–Commercial General Liability Section
• Form 186–Contractors Supplement (optional)
• Form 801–Railroad Protective Liability Supplement

SPECIFIC ACORD FORM CONSIDERATIONS

Form 125–Commercial Insurance Application

All information requested in this form is relevant and important. Be sure to check the appropriate boxes so the insurance company underwriter understands the lines of insurance being submitted for consideration. All named insureds must be listed. The applicant information is important for coverage issues and to provide contact information for inspections, financial, and premium audit functions.

Loss information on larger accounts should probably be submitted in the form of copies of currently valued loss runs for the past five years, as well as for the current year to date. Accurate and currently valued loss information for the latest three full and complete years is required for experience rating on larger accounts.

Form 126–Commercial General Liability Section

This form is very comprehensive and designed to provide the insurance company with as much relevant information as possible with respect to the coverages selected, classifications, and rating. It includes detailed questions that make it very helpful as a risk management and underwriting tool. Most of the information requested will have a direct impact on the manual rating. Inaccurate or incomplete information can lead to an incorrectly rated and priced account.

Form 186–Contractors Supplement

This form describes the contractor designated on the declarations. This contractor also pays the premium. This form has many questions of both a general and specific contractor nature. Answers to these questions provide an idea of the scope of the contractor's operations.

Note: The actions of this contractor are the ones most likely to cause any losses.

Form 801–Railroad Protective Liability Supplement

The information requested in this form applies to the specific operations or work to be performed. All questions are relevant because they relate to the specific job location and project. This form is unique because it has a large remarks section to include information that is unique to the project that is not explained elsewhere.

UNDERWRITING NOTES

These forms are comprehensive and detailed with respect to the type and amount of information requested. However, no single application can respond to every question that may arise for every risk, especially those which are larger and more complex. It is always in the best interest of both the insured and the agent or broker to provide a cover letter that includes complete details of the operations and exposures involved. A cover letter is particularly appropriate if the risk has characteristics and features that can’t be brought to the insurance company’s attention in any other way.