Associate Broker
Job Details
- Job ID
- 288
- Company Name
- Socius Insurance Services
- Job Title
- Associate Broker
- Application Deadline
- 04/13/2017
- Salary Range
- no minimum salary specified - no maximum salary specified
- Min. Years of Experience
- 5.0
- Job Location
- Los Angeles, CA
- Description
The Primary function of the Associate Broker is to provide support for producer marketing and negotiating new & renewal business. The ultimate responsibility of all account maintenance rests with the Associate Broker.
1. New Submissions:
- Review submission for completeness
- Complete submission checklist and give to administrative assistant to be entered into the EPIC system.
Marketing:
- Evaluate submission and select markets to approach. Consult with producer, if necessary.
- Create cover letter and send to market.
- Create activity to follow up for quotes. Quotes to be received within 5 business days or depending on the urgency of the new business.
- Negotiate pricing and coverage with carrier
- Review all quotes received & verify all subjectivities listed are appropriate. If not, negotiate removal with underwriter.
- Obtain approval on all quotes from producer prior to releasing to retail broker.
Proposal New Business:
- Forward Written Proposals to retail broker within 24 hours of receipt of indication from carrier using e-mail, fax or mail.
- Proposal should include any necessary applications, specimen policy forms,
Endorsements, articles, warranties and/or disclaimers
2. Renewal Business:
- Evaluate renewal information received within 24 hours of receipt.
- Send Renewal proposals to retail broker no later then 2 weeks prior to expiration.
Marketing:
- Review expiring program and select markets to approach. Consult with producer, if necessary.
- Create cover letter and send to market.
- Suspense follow-up activity not less than 2 weeks prior to expiration date.
- Negotiate pricing and coverage with carrier
- Review all quotes received & verify all subjectivities listed are appropriate. If not, negotiate removal with underwriter.
- Obtain approval on all quotes from producer prior to releasing to retail broker.
Proposal Renewals:
- Forward written proposals to retail broker within 24 hours of receipt of indication from carrier using e-mail, fax or mail.
- Proposal should include any necessary applications, specimen policy forms, endorsements, articles, warranties and/or disclaimers
3. Closing a Deal:
- Under the direction of the producer, review proposal and follow up with retail broker for order 30 days after release of terms or 5 days prior to expiration.
- Complete Binder Request Form & give to Production Assistant to process.
- If coverage is not bound, create follow up activity for either Admin Asst to send “Close Fax doc” or for PA to send “Off Risk letter” to retailer.
- Associate Brokers or Producers must request their own binders from the underwriter if the request is prior to the standard 24-hour turnaround.
4. File Maintenance:
- File documents in appropriate section. For New Submissions sort documents accordingly.
- Give file to the Admin Assist for labeling.
5. Policy Review:
- Carefully review policies using the “policy checklist” within 5 days of receipt. If a policy is not reviewed within the timeframe allotted and an extension is required, it is the Associate Broker’s responsibility to process a Socius extension binder.
- If a policy is released without all subjectivities being met, use the “Subjectivity Final Request Letter” in EPIC to inform the retail broker that although the policy has been released it risks being cancelled until all subjectivities have been satisfied.
Policy Corrections:
- Upon review of any policy, AB is responsible for requesting any changes or corrections.
- Send a request to the underwriter amending the policy at the time the policy is being reviewed.
- Follow-up with underwriter for corrections within 10 days. Once the endorsement is received and reviewed, give to the PA to process.
6. Claims Processing:
- Enter claim information in EPIC.
7. Broker Of Records:
- From retail broker: Advise the carrier in writing the same day received. Socius approved B o R letter MUST be used in all cases
- Follow-up for copy of current policy, application and any other pertinent information.
- From insurance company: Advise the retail broker that they have 5 days to provide a rescinding Broker of Record letter.
- If no response within 5 days, give to PA for processing “Off Risk Letter”.
8. Loss Runs:
- Follow up for outstanding loss runs 30 days prior to expiration.
- Advise producer if loss runs remain outstanding 2 weeks prior to expiration.
9. Communication:
- Keep producer informed of the workflow.
10. Assigned Duties:
- Any other related duties, which may be assigned.
- Website
- www.sociusinsurance.com
Contact Information
- Name
- Kershisnik, Kevin
- Phone Number
- 213-243-1221
- jobs@heffgroup.com
- Best Method of Contact
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