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Henry has been asked to provide a commercial quote to a prospect. During the information collection process, when asked about the company's operations, the prospect lets Henry know he is a regional mid-sized general contractor with 28 employees, one office building and revenues of $15 million a year. Based on the information provided, is Henry ready to submit an application to an insurer for a quote? No, there are many types of contractors and Henry needs this information for his own personal file to tailor meaningful client communication in the future. Yes, only the revenue amount matters as that is how the underwriters rate or price insurance policies. No, there are many types of general contractors and the underwriters want specific information to properly assess and price the risk. Yes, the client insists he is just a general contractor and experienced underwriters will understand that type of operation.. 12:01 PM

Henry has been asked to provide a commercial quote to a prospect. During the information collection process, when asked about the company's operations, the prospect lets Henry know he is a regional mid-sized general contractor with 28 employees, one office building and revenues of $15 million a year. Based on the information provided, is Henry ready to submit an application to an insurer for a quote? No, there are many types of contractors and Henry needs this information for his own personal file to tailor meaningful client communication in the future. Yes, only the revenue amount matters as that is how the underwriters rate or price insurance policies. No, there are many types of general contractors and the underwriters want specific information to properly assess and price the risk. Yes, the client insists he is just a general contractor and experienced underwriters will understand that type of operation.. 12:01 PM

Understanding Business
Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Henry has been asked to provide a commercial quote to a prospect. During the information collection process, when asked about the company's operations, the prospect lets Henry know he is a regional mid-sized general contractor with 28 employees, one office building and revenues of $15 million a year. Based on the information provided, is Henry ready to submit an application to an insurer for a quote? No, there are many types of contractors and Henry needs this information for his own personal file to tailor meaningful client communication in the future. Yes, only the revenue amount matters as that is how the underwriters rate or price insurance policies. No, there are many types of general contractors and the underwriters want specific information to properly assess and price the risk. Yes, the client insists he is just a general contractor and experienced underwriters will understand that type of operation.. 12:01 PM
Transcribed Image Text:Henry has been asked to provide a commercial quote to a prospect. During the information collection process, when asked about the company's operations, the prospect lets Henry know he is a regional mid-sized general contractor with 28 employees, one office building and revenues of $15 million a year. Based on the information provided, is Henry ready to submit an application to an insurer for a quote? No, there are many types of contractors and Henry needs this information for his own personal file to tailor meaningful client communication in the future. Yes, only the revenue amount matters as that is how the underwriters rate or price insurance policies. No, there are many types of general contractors and the underwriters want specific information to properly assess and price the risk. Yes, the client insists he is just a general contractor and experienced underwriters will understand that type of operation.. 12:01 PM
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