Direct Bill Premiums – The carrier will invoice all premiums directly to your client. In some circumstances you will be required to send in the down payment prior to binding and the carrier will invoice all installments. Our underwriter will specify the proper procedure when providing your agency with a quote.
Agency Bill Premiums – Some of our carriers allow agency bill policies. Upon binding you should specify if you would like Caitlin Morgan to invoice your agency or the insured. Per the terms of our brokerage agreement your agency is responsible for any uncollected earned premium, excluding audits. We will abide by state required cancellation provisions for past due accounts.
Commission Payment Procedures – Your agency’s commission amounts vary from carrier to carrier. Your Underwriter will specify the commission % for any given account upon providing you with a quote. We will make commission payments to your agency in the month following receipt from the carrier. Sometimes this can take up to 90 days, however we strive to get commission payments out as quick as possible.
If, at any time, you have questions regarding the status of a commission payment you can contact Chris Murray at firstname.lastname@example.org or call 317-575-4440, ext. 233.
We invite you to learn more about us and how we can help you expand your business.
Contact the experts at Caitlin-Morgan today and experience the benefits of working with a new kind of MGU and wholesale brokerage. For more information, call 317-575-4440 or complete the contact form on this page.