Rolling Book Over
- Thread starter iiinycboi
- Start date
Re: "rolling Book Over"
On a traditional book roll you are purchasing the Expiration Dates and the current insurance company agrees to Non-Renew the Client and you roll them into a current company you represent on the renewal date.
It is easier to transfer the book to your agency if you have a contract with the same company and can be done simply by contacting your company rep and giving them the purchase agreement from the prior agent releasing the book to you. If this is the case, be sure to get all wet signatures and files associated with the sale. Your E&O carrier may require this along with your own piece of mind.
On a traditional book roll you are purchasing the Expiration Dates and the current insurance company agrees to Non-Renew the Client and you roll them into a current company you represent on the renewal date.
It is easier to transfer the book to your agency if you have a contract with the same company and can be done simply by contacting your company rep and giving them the purchase agreement from the prior agent releasing the book to you. If this is the case, be sure to get all wet signatures and files associated with the sale. Your E&O carrier may require this along with your own piece of mind.
Re: "rolling Book Over"
Call the carrier and find out what they need. It usually isn't that complicated and shouldn't impact the clients.
If you want to move them to a new carrier, then that takes more work. Not sure if this is what you are after, but since you stated BOR, I assume you are leaving them alone and just changing the agent code on the policy.
Different carriers want slightly different things, though its usually not complicated. Just call whatever carrier(s) are involved and ask, hopefully before you purchase the book.
Dan
Call the carrier and find out what they need. It usually isn't that complicated and shouldn't impact the clients.
If you want to move them to a new carrier, then that takes more work. Not sure if this is what you are after, but since you stated BOR, I assume you are leaving them alone and just changing the agent code on the policy.
Different carriers want slightly different things, though its usually not complicated. Just call whatever carrier(s) are involved and ask, hopefully before you purchase the book.
Dan
- Thread starter
- #4
Re: "rolling Book Over"
yeah, i have the same carriers and the guy who wants to sell me his book.
I do not want to contact every client and ask them to sign a BOR change so i was wondering if there was a more direct approach with carrier to avoid calling the clients.
yeah, i have the same carriers and the guy who wants to sell me his book.
I do not want to contact every client and ask them to sign a BOR change so i was wondering if there was a more direct approach with carrier to avoid calling the clients.
- 11,997
Re: "rolling Book Over"
You shouldn't have to.
What products?
What carriers?
You shouldn't have to.
What products?
What carriers?
Re: "rolling Book Over"
Your carrier should be able to roll the book into your Agent ID if they recognize the sale. You need to contact your company REP.
Your carrier should be able to roll the book into your Agent ID if they recognize the sale. You need to contact your company REP.
- Thread starter
- #7
- 11,997
Re: "rolling Book Over"
Is he giving it to you or are you paying for it?
Is he giving it to you or are you paying for it?
- Thread starter
- #9
- 11,997
Re: "rolling Book Over"
I wouldn't pay him a nickel until it's done.
Is the agent signing off on it? I think it odd that a sub-agent would own his book, but it does happen.
I wouldn't pay him a nickel until it's done.
Is the agent signing off on it? I think it odd that a sub-agent would own his book, but it does happen.
