Transfer of E&S business.
Posted: Tue Dec 18, 2007 12:20 pm
We're going to accept a book of surplus lines business from an area agency who recently lost their surplus lines broker unexpectedly (early retirement due to sudden illness).
Advice on how to make this transition as smooth as possible?
They have insureds in almost every state, thus 50 different sets of surplus lines rules. Thankfully we do, too so we've already got programming in place to handle the various tax rates, stamping fees and forms. Plus we use the same carrier, so our master policies are nearly identical.
Does anyone know if any of the states require forms regarding disclosure of the transfer of the book of business beforehand or will they settle with being notified as we report renewals, cancellations and endorsements?
Thanks,
-Fussy
Advice on how to make this transition as smooth as possible?
They have insureds in almost every state, thus 50 different sets of surplus lines rules. Thankfully we do, too so we've already got programming in place to handle the various tax rates, stamping fees and forms. Plus we use the same carrier, so our master policies are nearly identical.
Does anyone know if any of the states require forms regarding disclosure of the transfer of the book of business beforehand or will they settle with being notified as we report renewals, cancellations and endorsements?
Thanks,
-Fussy