Acord 152 is a specialized inland marine form used to capture key details about movable property, equipment, and related exposures within a commercial insurance submission.
It provides a structured way to document who is seeking coverage, what types of property are involved, and how those assets are stored, transported, and valued so that risk can be evaluated consistently across stakeholders.
Organizations working in insurance, lending, and equipment finance rely on Acord 152 to align complex asset information in a familiar format that supports underwriting discipline, operational efficiency, and reliable recordkeeping.
What Is Acord 152?
Acord 152 is a standardized form used to capture detailed information about commercial insurance exposures, most commonly in contexts such as business, financial institution, or specialty program underwriting.
It typically appears during the submission and renewal process, giving carriers, brokers, lenders, and equipment finance providers a consistent snapshot of a client's operations, risk characteristics, and requested coverages.
Underwriters, risk managers, producers, and financial services professionals rely on Acord 152 as a shared reference document that aligns data across applications, internal systems, and supporting schedules.
Its standardized structure makes sure that key information is organized in a familiar layout, which helps reduce discrepancies when multiple parties (e.g., insurers, lenders, and advisers) review the same account.
Because it is widely recognized across commercial insurance and related fields such as lending, equipment finance, claims, and professional services, Acord 152 functions as a core building block in many operational workflows and recordkeeping practices.
When Is the Acord 152 Used? (Common Use Cases)
Acord 152 is typically used when a financial institution, premium finance company, or lender needs to document the financing arrangements associated with an insurance policy.
It commonly appears in workflows involving new premium finance agreements, revisions to existing finance terms, cancellations for nonpayment, or reviews of a client's credit standing tied to financed premiums.
Underwriters, brokers, and credit teams rely on this form to align policy details with finance terms, document the parties' obligations, and record key data that supports credit review and collections.
In broader operational workflows, Acord 152 supports underwriting by linking coverage and limits to financed amounts, helps claims and accounting validate the status of financed premiums, and assists compliance teams in maintaining clear records for audits and regulatory checks.
By creating a uniform structure for capturing finance-related information, the form helps organizations make sure submissions are complete, consistent, and easy to process across intake, servicing, and review stages.
What Is Included in Acord 152?
Acord 152 is organized around general inland marine information that frames the entire submission, beginning with identification-style fields that capture who is seeking coverage and how the account should be referenced.
This high level section typically includes basic policy context and effective period details so carriers can tie inland marine exposures to a specific underwriting period.
A core part of the form is devoted to equipment and property schedules, where users list items subject to inland marine coverage in a structured, line-by-line format.
These schedule fields usually prompt for descriptions, locations, and values so each movable asset can be individually evaluated.
Storage and transit exposures appear in their own structured area, asking for information about where property is kept and how often it moves.
Here the form uses descriptive fields to capture storage conditions and transit patterns, supporting analysis of how frequently property is on the road versus at a fixed site.
Coinsurance and valuation basis are captured in another segment, using check-style selections and short descriptions to clarify how losses will be measured.
Underwriting questions then guide the user through targeted disclosures tied to risk characteristics or operational practices.
Finally, remarks and supplemental schedules create space for narrative explanations and additional itemized lists, so unusual situations or large schedules are documented in an organized, consistent way.
Why Is Acord 152 Important?
Acord 152 is important because it organizes complex commercial lines information into a single, standardized format that different organizations can interpret consistently.
By capturing key data points in a structured way, it supports accuracy in submissions, reduces the risk of missing or conflicting details, and cuts down follow-up questions that slow down underwriting and review.
Its uniform layout helps carriers, lenders, underwriters, and professional services teams compare accounts more efficiently, apply internal guidelines more reliably, and document decisions in a way that supports audits and regulatory expectations.
Because the information is presented in a predictable framework, teams can rely on Acord 152 to make sure that critical fields are completed, timelines are shortened, and decisions can be made with greater confidence and fewer operational disruptions.
How Can Heron Help With Acord 152?
Handling Acord 152 forms often pulls underwriting and operations teams into repetitive, low-value tasks that slow decisions and introduce errors.
Heron transforms this workflow by starting at the point of intake, automatically capturing Acord 152 submissions from email inboxes, secure portals, and shared folders without human intervention.
The platform instantly recognizes that a document is an Acord 152, differentiating it from other placement, submission, or renewal forms so it can be routed correctly.
Heron then applies AI-powered extraction to pull out all relevant fields, including account information, coverage details, limits, premiums, and schedule data, in a consistent structured format.
As the data is captured, Heron runs validation checks to make sure the form is complete and internally consistent, flagging missing values, conflicting entries, or format issues before they reach downstream teams.
Heron can also compare key fields against internal rules or reference data so underwriters and operations staff do not need to re-key and manually verify every section of the form.
Once validated, the structured Acord 152 data syncs directly into policy admin platforms, underwriting workstations, CRMs, and other core systems used across financial and professional services.
This removes manual data entry, shortens intake cycles, and reduces operational friction that typically arises when teams juggle email attachments and spreadsheets.
Underwriters, brokers, and operations teams receive clean, well-organized data as soon as the form arrives, supporting faster risk evaluation and more reliable downstream reporting.
FAQs About Acord 152
What is the primary purpose of the Acord 152 form in commercial insurance workflows?
The Acord 152 form is used to document loss runs, providing a standardized record of an insured's historical claims activity over a defined period. It gives carriers, brokers, lenders, and finance companies a consistent way to review paid losses, reserves, claim counts, and policy terms tied to specific lines of coverage.
By using Acord 152, organizations can compare accounts across markets without reformatting carrier-specific loss reports.
Who typically completes the Acord 152 form and what data do they rely on?
The Acord 152 is usually completed by the insurance carrier or third-party administrator, often at the request of a broker, risk manager, lender, or equipment finance provider. These teams pull data from policy administration and claims systems, including policy numbers, effective dates, loss dates, claim status, and financial amounts for each loss.
Internal operations or underwriting support staff often prepare and validate the form so that the information aligns with system-of-record values before it is released externally.
Why is Acord 152 often required in lending, equipment finance, and large account underwriting?
Lenders and equipment finance companies request Acord 152 to evaluate an applicant's loss history as part of credit and risk assessment. The form helps them understand the frequency and severity of claims that could impact collateral, cash flow, or covenant compliance.
Commercial underwriters rely on the same data to price coverage, set deductibles, and recommend risk control strategies based on documented loss patterns.
How do organizations request, submit, and process Acord 152 forms in day-to-day operations?
Organizations typically request Acord 152 loss runs through the broker or directly from the carrier, often via email, portal requests, or integrated agency management systems. Once completed, the form is transmitted as a PDF, spreadsheet export, or structured data feed, then stored in the account file or risk management system for ongoing reference.
Underwriting, credit, and portfolio teams then review the Acord 152 side by side with applications, financial statements, and exposure schedules to make sure the loss profile aligns with the proposed terms and overall risk appetite.
