Procedures for Using Wholesalers

  • Agency determines that coverage may be placed through a wholesaler.
  • Prepare Surplus Lines Checklist if coverage is to be placed with a non-admitted company.
  • Notify insured of placement through wholesaler and request acknowledgment using appropriate form.
  • Forward application and request for coverage to the wholesaler. Suspense for 10 days for receipt of binder, cover note, or other confirmation that coverage has been effected.
  • When policy is received from the wholesaler, REFER TO NEW BUSINESS OR RENEWAL PROCEDURES.
  • (If your agency has a surplus lines license and the wholesaler does not): File appropriate documents with the surplus lines stamping office.
  • Suspense for receipt of acknowledgment of filing from stamping office.
  • When acknowledgment is received, document file.
  • Clear suspense.