Q: Am I allowed to send AgentSecure
a net check?
A: No. Most policies are direct billed to the insured. All checks should be sent to the carrier. AgentSecure will pay your agency after the carrier makes it payment to AgentSecure.
Q: When will I receive my commissions
on sold policies?
A: AgentSecure is typically paid 30-45 days after the effective date of the policy. This is true in most instances regardless of when or how your customer made their premium payment to the carrier. AgentSecure cuts checks on a weekly basis and your agency will be paid once each month if your agency is due commissions from AgentSecure. We apply cash from most carriers via an electronic commission statement download the same day that the statement is received. AgentSecure normally makes payments to its producers about two weeks after it receives payment from the carriers and has applied the cash.
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Q: Can I use my current premium
finance company?
A: No, outside premium financing is prohibited. Most of our policies are “direct bill” but if premium financing is needed, AgentSecure will provide the contract to your office. Why not allow other Premium Finance Companies into the mix? We have found over the past few years that when a policy is financed there are always billing problems.
Q: Does AgentSecure charge brokerage
fees or do you allow my agency to charge fee?
A: AgentSecure has never charged brokerage fees on the policies it sells. Certain states allow agencies to charge a brokerage fee. The AgentSecure Producer Agreement states that if your agency decides to independently charge a brokerage fee, your agency will abide by all state insurance laws and will provide the required disclosure and will obtain the needed customer authorization, signatures and acknowledgement regarding fees charged.
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