OVERVIEW

ACORD forms are primarily designed for use with standard insurance manuals, rules, rating plans, and policy forms, including the Liquor Liability Coverage Forms. Typically, ACORD forms are relatively generic. If a Liquor Liability Coverage Form is combined with a specific independent specialty or company program, company-specific forms might be required instead of, or in addition to, the usual ACORD forms.

RELEVANT ACORD FORMS

NOTE: This section lists only countrywide ACORD forms; state-specific forms are not included.

Form 45–Additional Interests
Form 125–Commercial Insurance Application
Form 803–Liquor Liability Section

SPECIFIC ACORD FORM CONSIDERATIONS

Form 45–Additional Interests

This form systematically lists, identifies, and describes additional interests related to property and liability. It pairs the interest’s name and mailing address with details about the specific type of interest, such as location, vehicle, or scheduled property item. Aside from its primary uses in underwriting, policy creation, and rating, it also serves as a risk management and additional interest inventory tool.

Form 125–Commercial Insurance Application

Every piece of information requested in this application is essential for risk assessment.

· All relevant boxes for the requested line of business must be checked. This will assist the insurance underwriter in understanding the lines of insurance under consideration.

· All named insureds must be listed, with the first named insured being the most important and bearing specific responsibilities.

· The applicant's details are crucial. Contact information for inspection, financial matters, and premium audit functions must be provided.

· The locations where coverage applies and the nature of operations at each site are crucial pieces of information for the insurance company underwriter.

· The application includes many questions of a general nature that help all parties understand the scope and importance of various issues that influence or involve most risks.

· Loss information for larger accounts should likely be provided through copies of the most recent loss runs covering the past five years, in addition to the loss runs for the current year to date.

· Accurate and up-to-date loss information for the most recent three full years is required for experience rating on larger accounts for certain lines of insurance.

Form 803–Liquor Liability Section

This section is specifically designed for liquor exposure. Instead of trying to fit liquor-related questions into the 126–Commercial General Liability Section, this section asks the important questions unique to liquor operations. It includes questions about bouncers, entertainment, weapons on premises, food sales, liquor sales, TIPS courses, and much more.

This is a highly detailed, location-specific application, so a separate form is required for each location.