Left Captive with a Debit on Ledger

[Arid]

Hello,

I left a captive insurance carrier with a debit on my ledger. To summarize, it was a commission adjustment on a UL policy that was sold a year ago. When the debit hit I was already in the process of leaving. I got a letter stating that the info will be supplied on my U5 if applicable. I wanted to know if this would affect me contracting with carriers now that I am independent? Thanks.

 

[Norwayguy]

Hello,

I left a captive insurance carrier with a debit on my ledger. To summarize, it was a commission adjustment on a UL policy that was sold a year ago. When the debit hit I was already in the process of leaving. I got a letter stating that the info will be supplied on my U5 if applicable. I wanted to know if this would affect me contracting with carriers now that I am independent? Thanks.

Its a nonissue if you pay it off.

 

[djs]

Pay it off or make payment arrangements.
Don't let it get on your U-5.

Dan

 

[bangarang143]

They'll work with you even if you have payment arrangements set up