Broker of Record Procedures

New Business

  • If a duplicate account is discovered during the account clearance process the agent that clears the first complete submission will be considered the controlling agent. A complete submission is one that includes all the information needed to underwrite the account.
  •  If, after the first complete submission is cleared, another agent submits a submission for the same risk it must be complete and be accompanied by an agent of record letter. The original submitting agent will be notified of the second submission and will have five business days to obtain a rescinding letter. We reserve the right to waive the five day requirement. If the controlling agent obtains a rescinding letter of record, they will retain control of the account.
  • New business quotes will be provided to only one agent.

Renewal Business

  • Agent of Record change requests will only be honored at time of renewal and not midterm.
  • We must receive the letter in sufficient time to notify the current agent. We will advise the incumbent agent and allow them five business days to obtain a rescinding letter of record. We reserve the right to waive the five day requirement. If the incumbent agent obtains a rescinding letter of record, they will retain control of the account.

Agent of Record Letter Requirement

  • Agent of Record change requests will only be honored at time of renewal and not midterm.
  • Must be prepared on the customer's stationery. If an ACORD Agent/Broker of Record Change Form is utilized the customer cannot waive the waiting period or dictate upfront that there will be no rescission letter.