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09/18/2013 6:50 PM
Questions about Schedule C -- Breakdown of Policies
11/21/2013 10:00 PM
On Schedule C, are the various categories intended to be a double (or multiple) counting of the same policies?
11/21/2013 10:03 PM
In Schedule C, we are asked to report "Direct Agency Losses Paid" and "Fraud Losses" (Non-CPL) Paid". These are to be broken out by type of policy. Many types of claims (for example, unpaid taxes) would be claims under both an owner's and a lender's policy. How should we allocate these expenses when multiple policies might have been affected?
11/21/2013 10:05 PM
In Schedule C, we are asked to report "Direct Agency Losses Paid" and "Fraud Losses (Non-CPL) Paid". Should this include payments made when our underwriter shifts a claim back to us based on a claim that the agency made an error? How about if it was covered by our E&O insurance?
11/21/2013 10:07 PM
When allocating Fraud Losses, it will not always be feasible to track an employee theft/defalcation to a specific file or policy. The money was stolen from the trust account, without a corresponding entry into a specific client ledger, or the original theft was from a file, but has been "moved" from one file to another in an effort to give the appearance that things are in balance. To which type of policy should those frauds be allocated on Schedule C?
11/21/2013 10:08 PM
Where do I show a policy that insures a third mortgage?
11/21/2013 10:10 PM
Line 104 entitled "Total Direct Premium and Rebate Amounts" is directly under the table for Simultaneous Issue Policies, which breaks things out by the amount of simultaneous premium paid. Is Line 104 intended to be a total of the simo rates, or of the Total Premium, number of transactions and rebate amount headers that apply everywhere else?
11/21/2013 10:12 PM
In Schedule C, we are asked to report "Direct Agency Losses Paid" and "Fraud Losses (Non-CPL) Paid". Are we to report these in the year received? Or to amend a prior year's filing to report them relative to the year the underlying policy was issued?
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