Operations
Submission Pack
Definition
The working file for a facultative placement: slip or MRC, SOV, loss history, wording excerpts, source spans, and a chase list.
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Related Terms
Operations
Slip
The placing document that states insured, period, interest, limits, and other terms offered to the market. In London this may be an MRC.
Operations
SOV (Statement of Values)
A schedule of insured locations or items with values that should sum to TIV. Often conflicts with the slip and must be shown as a conflict, not averaged.