System for electronically managing and documenting the underwriting of an excess casualty insurance policy

Claim 1

A computer-implemented system for managing the quotation of an excess casualty insurance policy for an insured having a primary insurance policy with at least one primary insurance limit amount, comprising: (A) means for receiving and storing at least one standard industrial classification code ("SIC code") associated with said insured and a primary carrier name associated with said primary insurance policy; (B) database means for storing a plurality of SIC code records corresponding to a plurality of SIC codes, each of said SIC code records including a minimum premium field for storing minimum premium amount information and a hazard rating field for storing hazard rating information associated with one of said plurality of SIC codes; (C) said database means including means for storing a plurality of primary insurance carrier rating records corresponding to a plurality of primary insurance carriers, each of said primary insurance carrier rating records including a rating code field for storing a rating code representing a financial stability rating associated with one of said plurality of primary insurance carriers; (D) means for retrieving, from said database means, a primary insurance carrier rating record associated with said primary carrier name and for comparing said rating code stored in said primary insurance carrier rating record to a predetermined rating level; (E) means for declining said quotation if said rating code stored in said primary insurance carrier rating record is below said predetermined rating level; (F) means for retrieving, from said database means, an SIC code record corresponding to said SIC code associated with said insured and for displaying hazard rating information stored in said SIC code record; (G) means for receiving and storing one of a plurality of hazard codes selected in response to said displayed hazard rating information; (H) means for displaying a plurality of candidate risk modifiers associated with said quotation and means for receiving and storing a risk modifier code selected from said plurality of candidate risk modifiers; (I) means for selecting at least one insurance attachment point which is greater than said primary insurance limit amount and at least one insurance layer amount; and (I) means for generating said quotation from said minimum premium amount information stored in said SIC code record associated with said insured, said selected hazard code, said selected risk modifier code, said at least one insurance attachment point, and said at least one insurance layer amount.