Cancelling contracting

[MrBob]

Hey,

Anyone know what the process would be if you've submitted contracting with a prospective IMO, and now that the makeup is off 1 or 2 weeks in doesn't seem like a good fit but a couple of the submitted contracts have not been approved yet, is there a way to revoke those before they are submitted other than through the prospective IMO?

Essentially if I contact the insurance company directly say, MOO, will they be willing to catch that paperwork and not approve it rather than letting it approve, saving me from being stuck trying to get a release from an IMO that may not want to give it....or is it going to be a situation where Ins Co will just approve it and here's hoping IMO feels the same way and we can part happily in the beginning?

 

[goillini52]

Hey,

Anyone know what the process would be if you've submitted contracting with a prospective IMO, and now that the makeup is off 1 or 2 weeks in doesn't seem like a good fit but a couple of the submitted contracts have not been approved yet, is there a way to revoke those before they are submitted other than through the prospective IMO?

Essentially if I contact the insurance company directly say, MOO, will they be willing to catch that paperwork and not approve it rather than letting it approve, saving me from being stuck trying to get a release from an IMO that may not want to give it....or is it going to be a situation where Ins Co will just approve it and here's hoping IMO feels the same way and we can part happily in the beginning?

Put it in writing to the Insurance company and the FMO.

 

[DonP]

I’m willing to bet 80% of imo’s won’t cancel it .I’m pretty sure and ins company won’t cancel it without the imos approval

 

[Real_AMG]

Generally, no. However, I’ve had carrier reps/relationship managers do this for agents of mine in the past. Try asking nicely and see what happens. You may get lucky.

 

[myinsurebiz]

Who is the IMO ?

 

[Newby]

Hey,

Anyone know what the process would be if you've submitted contracting with a prospective IMO, and now that the makeup is off 1 or 2 weeks in doesn't seem like a good fit but a couple of the submitted contracts have not been approved yet, is there a way to revoke those before they are submitted other than through the prospective IMO?

Essentially if I contact the insurance company directly say, MOO, will they be willing to catch that paperwork and not approve it rather than letting it approve, saving me from being stuck trying to get a release from an IMO that may not want to give it....or is it going to be a situation where Ins Co will just approve it and here's hoping IMO feels the same way and we can part happily in the beginning?

Yes if you are quick enough and you contact the carrier directly. Don’t ask the IMO to do it for you.
Figure out which IMO you want to go to and have them help you get out of the old one. That makes life much easier.