ACORD has maintained a complete library of industry-specific forms for almost 50 years. ACORD charges agents, brokers, and carriers an annual End User License (EUL) fee for the use of its forms, and licensing for them must be renewed annually.
However, thanks to a Big “I" benefit, members with annual property & casualty gross revenue of less than $50 million receive a complimentary license to use ACORD forms.
Crucially, any Big “I" members who utilize a complimentary license must still renew their license each year. Renew your ACORD forms license for 2024 now.
ACORD requires all users of ACORD forms—including agents, brokers, carriers and others—to obtain an ACORD forms EUL. Currently, most agents access these forms via their agency management systems or other ACORD-authorized third-party forms redistributors.
The Big “I" has negotiated an agreement with ACORD, wherein Big “I" will cover the cost of the EUL for eligible agencies accessing ACORD Forms via a management system or redistributor, or will provide an EUL discount when accessing directly through ACORD Advantage Plus Program.
The result of this agreement is that your agency will not have to pay an EUL fee, and agents will experience no disruption in your management system workflow or use of ACORD forms, with the exception of an annual validation to confirm Big "I" membership and eligibility. This will be executed via a clickthrough acceptance.
Because of this member benefit, the EUL cost savings could be between $20-$2,500. More background on ACORD forms is available on the ACORD website. For more help, call ACORD directly at (800) 444-3341 or email BIG "I" member services.