https://completemarkets.com/Article/article-post/328/Certificates-Of-Insurance-Binders-And-Evidences-Of-Insurance-What%E2%80%99s-The-Difference/
...binding authority with excess and surplus (E&S) markets. Thus, when an E&a...omply with all applicable laws, rules, and regulations.
https://completemarkets.com/Article/article-post/2365/Getting-A-Company-Appointment-Part-2/
...
The National Association of Surplus Lines Offices (NAPSLO) can also help by pro...be good for the customer, the company, and your agency.
https://completemarkets.com/company/CompleteMarkets/Articles/content-package/IMMS-Library/TabCategory/article-post/328/Certificates-Of-Insurance-Binders-And-Evidences-Of-Insurance-What%E2%80%99s-The-Difference/
... once an agency has stated that coverage is bound. Just because a carrier states it will write a risk does not automatically mean the company is binding the risk. Writing and binding are not necessarily the same thing. An agency never has binding authority with excess and surplus (E &S ) markets. Thus, when an E&S broker states that it will bind a risk, the agency should never tell the client that the agency is binding the risk because it is not – the broker is binding the ... If staff and producers have authority from agency management to write binders, and assuming management wants the job done correctly, they must know the agency's binding authority! (" Guidelines" is a misnomer, because it's really a list of the agency's contractual binding authority by line.) . Some agency managers don't want staff to write binders, but fail to communicate this. At the same time, so few staff really understand binders that half the time they're binding risks and don't even know that they're doing so. None of these ... it will write a risk does not automatically mean the company is binding the risk. Writing and binding are not necessarily the same thing. An agency never has binding authority with excess and surplus (E &S ) markets. Thus, when an E&S broker states that it will bind a risk, the agency should never tell the client that the agency is binding the risk because it is not – the broker is binding the risk. The semantics are important. Furthermore, an agency should not tell the ...
https://completemarkets.com/Article/article-post/2460/What-You-Can-Do-About-Insurer-Insolvency/
...ibit 1)
Assets, Liabilities, Surplus & Other Funds (Exhibit 2)
I...uating a carrier’s financial stability and minimizing the risk of an E&O c...
https://completemarkets.com/Article/article-post/212/How-To-Deal-With-A-Wholesaler/
...important allies is an Excess and Surplus (E&S) lines broker you can depen...in the long run for you, your clients, and your agency.
https://completemarkets.com/Article/article-post/1533/LEGAL-OUTLINE-FOR-CALIFORNIA-AGENCIES-CHAPTER-4/
...rage can be placed only through a surplus lines broker or special lines surplus line broker licensed in California, ... are enforceable under both California and U.S. law, unless they can be attack...
https://completemarkets.com/company/CompleteMarkets/Articles/content-package/IMMS-Library/TabCategory/article-post/1684/AGENCY-BROKER-PROFILING/
... . Item No. 18: Do you consider the agency to be particularly competent in a special field? This question is designed to highlight special experience, talent, and competence, to elicit special agency expertise. Some types of risks may be high-liability exposures and thus surplus lines risks. The property may be a very low exposure and thus very desirable to a preferred-risk company. With sufficient volume in a specialty, there may be a volume of other desirable business that can be accessed. Item No. 19: Does the agency ... positions, duties, and experience of each staff member. 3. Production information, outlining the mix of business, written premium, commission income, number and size of accounts, and number of policies. 4. Carrier information: written premium, loss information, lines of business, and carrier positions held. (It is important for your carriers to feel that you understand their situations.) 5. Automation capability. 6. Perpetuation arrangements. Carriers want to know that the potential for a long-term arrangement is possible-that, if ... thousands of articles, checklists, tip sheets, sales letters, and more! Communications Marketing Customer Service Planning Finance/Accounting Risk Management Human Resources Selling Legal and E&O Technology Life/Financial Services Glossaries Management Resources & Links Categories Popular Recent All Back Agency/Broker Profiling 4/30/2013 10:40:51 PM by CompleteMarkets Editor This content has not been rated yet. &# 160 AGENCY/BROKER PROFILING The agency profile tells the agency's story and presents the agency's expertise to prospects, clients, and companies ...