Business workers compensation insurance "accord application"?

Question

Does anyone know what an "accord application" is for. We are renewing our workers compensation insurance with the same insurance company. For some reason our agent is having us fill out an "Accord Application". We have never had to do this before.

Answer 1

Accord application is just a standard application,it is a "general" form (all companies accept this forms).Usually  the agents fill out the accord forms, they are made for agents and have very specific questions.Specially if  you are renewing with same company- your agent is just lazy-

He did it the first time,he can do it again.He should fill out the forms with you ( at the office or by phone, if he needs to ask u any questions as ssn, number of employees,etc).

Some accord forms need your signature. My agents complete the form and send them to me by mail to review (with stickers "sign here") and send back.

Answer 2

For the sake of accuracy it is an ACORD application. ACORD is a nonprofit association whose mission is to facilitate the development and use of standards for the insurance, reinsurance and related financial services industries.

The idea is that all of the insurance companies should accept the same workers compensation application so you don't have to complete different applications for each company you are applying to for coverage.

Perhaps that is more information than you want but the point is it streamlines the process of getting quotes for your insurance.

Because your insurance agent is applying for a renewal to the same company there should be no reason that he/she can't update any information was missing or changed from the original application. A short phone call ought to do it.

Answer 3

Accord is a name brand.   It's a standard, and MOST insurance companies use that particular form.