Underwriting Guidelines

• In order to receive coverage with the KRF-SIF, the employer company must be a member in good standing of the Kentucky Retail Federation. Quotes may be provided prior to the employer’s joining the Federation. However, in order for the Fund to write coverage, the company must join the Federation.
• Operations must engage in retail trade or related business. Excluded operations include, but are not limited to: Agricultural, Blasting, Heavy Construction, Drilling, Hazardous Waste Operations, Restaurant Delivery, Roofing and Trucking.
• The prior three year’s average loss ratio should be 64% or less.
• Mod must be under 1.3.
• Must have been in operation for at least 3 years.
• Applications not meeting the underwriting criteria may be approved by the KRF-SIF and the excess carrier.

Underwriting Specifications

• Completed ACORD Application
• Copies of the last 4 years’ annual payroll audits or UI-3 form or 941s for the last 4 years if no NCCI Experience Mod Worksheet is available.
• A copy of the current NCCI Experience Mod Worksheet or the equivalent.
• Latest 5 year loss runs valued within 6 months of proposed effective date.
• Employee Concentration Supplemental Application. Provide number of employees by location, if more than 200 employees at one location.
• Company narrative or brochure
• A current certification or financial statement must be provided prior to a quotation being released.
• Quotations will be released within 3 working days of receipt of a complete submission.